Australia's North Stawell Minerals falls on discounted placement

North Stawell Minerals

01/12/2023 04:40

** Shares of North Stawell Minerals  NSM.AX  fall as much as
2.7% to A$0.071, their lowest since Nov. 7
    ** Gold explorer says it will raise about A$2 mln ($1.32
mln) via entitlement offer at A$0.05 per share 
    ** Says issue price is at a discount of 31.5%, as of last
close
    ** Adds proceeds will be used for exploration drilling
programmes, among others 
    ** Stock down 13.4% for the week so far, set for biggest
weekly loss since Sept. 15
    ** Stock has fallen 52.9% this year, as of last close


($1 = 1.5142 Australian dollars)

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))