Australia's New Murchison Gold drops to two-week low on discounted placement

New Murchison Gold

20/03/2025 04:02

** Shares of New Murchison Gold NMG.AX fall 5.9% to A$0.016

** Stock set for its weakest session since March 5, if current losses hold

** The mineral explorer receives commitments to raise A$16.5 million ($10.47 million) by issuing 1.3 million shares at A$0.013 per new share

** Placement price represents a 23.5% discount to stock's last close

** About 72.1 mln shares change hands, 3.6x the 30-day average of 20 mln

** NMG stock up 77.8% YTD, including current session's moves

($1 = 1.5763 Australian dollars)

 (Reporting by Manasi Dasa in Bengaluru)

 ((Manasi.DasaSundeep@thomsonreuters.com;))