Australia's Hexagon Energy falls to 2-year low on discounted placement

NH3 Clean Energy

27/04/2022 04:01

** Shares of gold and graphite explorer Hexagon Energy 
 HXG.AX  drop as much as 20.5% to A$0.035, on track for their
worst day since Oct 2020, if losses hold
    ** Hexagon announces A$1.911 mln ($1.37 mln) capital raise
to fund its drilling programmes at projects in Western Australia
 urn:newsml:reuters.com:*:nGLFb5Xrrp 
    ** Issue price of A$0.028 per share represents a discount of
36.4% to stock's last close on April 21, after which it went on
a trading halt 
    ** Stock hits lowest level since April 2020
    ** More than 3.6 mln shares change hands, compared with the
30-day average volume of about 898,000 shares
    ** Stock down 41.3% this year, as of last close
 

     ($1 = 1.3982 Australian dollars)

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))