Australian gold explorer Woomera Mining drops on discounted share placement

Orbminco

05/10/2021 05:20

** Shares of Woomera Mining  WML.AX  fall as much as 4.8% to
A$0.02, their lowest since Sept. 29 
    ** Gold explorer says it has received binding commitments to
raise A$1.3 mln ($944,000) via share placement to fund
exploration drilling programmes at several projects  urn:newsml:reuters.com:*:nASX1xZzRX
    ** WML says capital raising at offer price of A$0.019 per
share, a discount of 9.5% to stock's closing price on Sept. 30,
when it last traded
    ** Co will raise additional A$1.9 mln via a 1:5 rights offer
to eligible shareholders
    ** About 5.6 mln shares change hands, vs the 30-day average
volume of 3.1 mln shares
    ** WML stock down 19.2% this year, as of last close
    
($1 = 1.3765 Australian dollars)

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))