Australia's Godolphin Resources falls on discounted placement

Orbit Resources

28/07/2022 02:11

** Shares of mineral explorer Godolphin Resources  GRL.AX 
fall as much as 20% to A$0.088, hit lowest level since July 20 
    ** Co says received commitments to raise A$1.6 mln ($1.12
mln) to fund drill programs at Narraburra Rare Earth Project,
NSW  urn:newsml:reuters.com:*:nASX6WzR6H
    ** Issue price of A$0.085/share represents a discount of
26.1% to last close on July 25 before it went on a trading halt
    ** Stock marks worst session since March 2020  
    ** More than 211,000 shares change hands, compared with the
30-day average volume of about 82,000 shares
    ** Stock has fallen 23.3% this year, as of last close
 


($1 = 1.4316 Australian dollars)

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))