Australia's Ora Gold faces worst day in three months on discounted capital raise

New Murchison Gold

13/02/2023 01:22

** Shares of Ora Gold  OAU.AX  slump as much as 25% to
A$0.006 - set for their worst day since Nov 17, if losses hold 
    ** Gold miner says it is undertaking fully underwritten
renounceable rights issue to raise approximately A$8.85 mln 
($6.11 mln) 
    ** Co says funds raised will be used for further drilling at
its Crown Prince gold prospect in Western Australia, among
others  
    ** Issue price of A$0.003 per share is at a discount of
62.5% to stock's last close on Feb 7 
    ** Stock had fallen 11.1% this year, as of last close
($1 = 1.4474 Australian dollars)
 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))