Australia's Prodigy Gold hits more than 2-month low on discounted capital raise

Prodigy Gold NL

07/09/2022 02:34

** Shares of Prodigy Gold  PRX.AX  fall as much as 14.3% to
A$0.012, their lowest since June 30
    ** Gold explorer announces an underwritten rights issue to
raise up to A$11.65 mln ($7.82 mln)  urn:newsml:reuters.com:*:nFWN30D1AV
    ** Issue price of A$0.01 per share is at about 30% discount
to last closing price on Sept. 6 
    ** Co says funds will be used to complete exploration work
at projects, among others    
    ** Almost 3 mln shares change hands, 7.5 times the 30-day
average of about 399,400 shares
    ** Stock to mark worst day since July 19 if losses hold 
    ** Shares had fallen 61.1% this year, as of last close

($1 = 1.4903 Australian dollars)

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