Australia's Pantoro set for worst day in 6 months on discounted capital raise

Pantoro Gold

09/08/2023 01:45

** Shares of Pantoro Ltd  PNR.AX  slump as much as 21.4% to
A$0.056, set for their worst day since Feb 15, if losses hold 
    ** The gold miner says it has received firm commitments to
raise A$30 mln ($19.60 mln) via a share placement   urn:newsml:reuters.com:*:nFWN39P1AR
    ** Says funding will be applied to support working capital
requirements for the Norseman project in Western Australia
    ** Issue price of A$0.06 per share is at a 14.3% discount to
the last closing price on Aug 4 
    ** Shares hit lowest since April 4 
    ** Stock down ~27.1% this year, as of last close

     ($1 = 1.5305 Australian dollars)
    

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))