Australia's Raiden Resources falls on discounted placement
14/10/2024 01:50
** Shares of Raiden Resources RDN.AX fall as much as 10.3%
to A$0.035, marking their biggest intraday pct loss since Aug.
23
** Stock hits lowest level since Sept. 19
** Gold explorer says it has received firm commitments from
institutional investors to raise A$10 mln ($6.74 mln) via share
placement at 3.2 Australian cents per share
** Offer price at a nearly 18% discount to stock's last
close
** Co says proceeds will be used to accelerate and expand
drilling at the Andover Lithium projects
** About 24.7 mln shares change hands, compared with the
30-day average volume of 14.2 mln shares
($1 = 1.4837 Australian dollars)
(Reporting by Sneha Kumar in Bengaluru)
((Sneha.Kumar@thomsonreuters.com;))