Australia's Ora Banda Mining falls on discounted placement

Ora Banda Mining

01/03/2024 01:15

** Shares of Ora Banda Mining  OBM.AX  fall as much as 7.8%
to A$0.235, set for their worst day since Jan 29, if trend holds
    ** The gold explorer receives firm commitments to raise A$30
mln ($19.49 mln) at an issue price of A$0.22 per share
    ** Adds that issue price is at a 15.4% discount to stock's
last closing price 
    ** Stock hits its worst level since Feb 22
    ** About 2.4 million shares change hands, compared with the
30-day average volume of 992,370
    ** Stock on track for its worst week since Feb 2, if current
trend holds
    ** Stock up 6.3% this year, as of last close

    ($1 = 1.5389 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))