Australia's Argonaut Resources hits all-time low on discounted offer

Orpheus Uranium

25/09/2023 06:21

** Shares of Argonaut Resources Nl  ARE.AX  fall as much as
34% to a record low of A$0.066
    ** The exploration co to raise A$3.66 mln ($2.35 mln)
through a fully underwritten non-renounceable pro-rata
entitlement offer
    ** Offer price of A$0.05 per new share is a 50% discount to
stock's last close 
    ** Co sees biggest intraday fall since Sept 15
    ** Argonaut stock down 50% YTD, as of last close 
   
    ($1 = 1.5562 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))