Australia's Pantoro slumps most in over three years on discounted placement

Pantoro Gold

21/10/2022 03:17

** Shares of Pantoro  PNR.AX  skid as much as 23.5% to
A$0.130, their biggest intraday pct loss in more than three
years 
    ** The gold producer says it has received firm commitments
for an institutional placement to raise A$28.5 mln ($17.86 mln)
 urn:newsml:reuters.com:*:nFWN31L4DL
    ** Co says proceeds will be applied to support the Norseman
Project in Western Australia as it ramps up to full production,
among others 
    ** Issue price of A$0.145 per share is at 14.7% discount to
the stock's last closing price on Oct 19 
    ** Shares hit lowest since May 13, 2020 
    ** Pantaro stock down ~49.3% this year, as of last close
    ($1 = 1.5962 Australian dollars)
 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))