Australia's Pantoro slides on discounted placement

Pantoro Gold

14/05/2024 01:58

** Shares of Pantoro  PNR.AX  fall as much as 9.3% to
A$0.078, set for their worst day since Jan 8, if losses hold 
    ** Stock hits lowest level since April 17 
    ** The gold producer says it received firm commitments to
raise A$100 mln ($66.04 mln) at A$0.08 per share
    ** Says placement at a discount of 7% to stock's last
closing price
    ** Adds proceeds to close out the $29.6 million term loan
facility with Nebari Partners LLC, among others 
    ** Pantoro stock has risen 50.9% this year, as of last close


    ($1 = 1.5142 Australian dollars)

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))