Australia's Kalamazoo Resources hits record high on premium share placement

Novo Resources

15/01/2020 01:09

** Shares of Kalamazoo Resources Ltd  KZR.AX  soar as much
as 44.9% to a record high of A$0.500
    ** The gold and copper explorer receives commitments to
raise A$8.0 mln ($5.52 mln) via a placement of 10 mln ordinary
fully paid shares each to Novo Resources Corp  NVO.V  and Eric
Sprott  urn:newsml:reuters.com:*:nASX618n1B
    ** Issue price of A$0.40 per share represents a 14.3%
premium to stock's Jan. 13 close; stock was on trading halt on
Jan. 14
    ** Stock posts its biggest intraday pct gain since Nov. 17,
2017 with more than 1.8 mln shares changing hands, compared with
the 30-day average volume of 266,000 
    ** KZR shares up 25.4% this year, as of last close

($1 = 1.4503 Australian dollars)

 (Reporting by A K Pranav)
 ((Pranav.AK@thomsonreuters.com;))