New World Resources hits over 2-week low on discounted placement

New World Resources

12/12/2022 24:26

** Shares of New World Resources  NWC.AX  fall as much as
5.9% to A$0.032, hitting their lowest since Nov. 23
    ** Copper explorer says it got firm commitments to raise A$8
million ($5.42 million) through a placement of 250 mln new
shares  urn:newsml:reuters.com:*:nFWN32Z1R2
    ** The issue price of A$0.032 represents a discount of 5.9%
from its Wednesday's close after which shares halted trading
    ** Funds raised will be used advance development of Antler
Copper Project in Arizona, U.S.
    ** Stock has fallen 52.4% so far this year, as of last close
($1 = 1.4771 Australian dollars)
 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))