Australia's Noble Helium nosedives on discounted placement

Noble Helium

18/08/2023 02:08

** Shares of Noble Helium  NHE.AX  fall as much as 19.6% to
A$0.205, seeing their worst day since June 5 - if losses hold 
    ** Helium explorer says received firm commitments to raise
A$12.0 mln ($7.70 mln) via share placement
    ** Issue price of A$0.20 per share represents 21.6% discount
to Aug. 16 closing price 
    ** Funds raised will be used to drill co's second
exploration and appraisal well at North Rukwa Helium Project in
Tanzania in Q3, 2023    
    ** Shares hit lowest levels since July 6 
    ** Stock up ~64.5% this year, as of last close

($1 = 1.5579 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))