Australia's Ora Banda Mining falls most in 2 months on discounted capital raise

Ora Banda Mining

27/03/2023 01:39

** Shares of Ora Banda Mining  OBM.AX  fall as much as 11.5%
to A$0.115, posting their biggest intraday pct loss since Jan 24
    ** Gold miner says it has received binding commitments for
A$30 mln ($19.96 mln) capital raising 
    ** Issue price of 11.25 AU cents per share is at a 13.5%
discount to last close on March 22
    ** Co says proceeds will be used to fund estimated capital
cost of Riverina underground mine, among others
    ** Shares hit their lowest level since March 10
    ** Stock had risen 54.8% YTD, as of last close 

($1 = 1.5031 Australian dollars)

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