Australia's Noble Helium hits record low on discounted placement

Noble Helium

12/12/2023 24:27

** Shares of Noble Helium  NHE.AX  fall as much as 23.5% to
a record low of A$0.130
    ** The helium explorer says it has received firm commitments
to raise gross proceeds of A$14 mln ($9.19 mln)
    ** Issue price of A$0.13 per share is at a 23.5% discount to
stock's last close on Dec 7 
    ** Co says funds raised will be primarily used for Mbelele
programme, including appraisal and testing at its North Rukwa
Helium Project in Tanzania in Q3
    ** Shares post their biggest intraday pct loss since Nov 2
    ** NHE stock down 9.7% YTD, as of last close 

($1 = 1.5232 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))