Australia's Renascor Resources falls on discounted placement

Renascor Resources

08/12/2022 24:22

** Shares of mineral explorer Renascor Resources  RNU.AX 
fall as much as 7.8% to A$0.295, their lowest since Nov 29
    ** Co raises A$70 mln ($47.04 mln) via placement to
accelerate development of its Siviour Battery Anode Material
Project
    ** Issue price of A$0.275 per shares represents a 14.1%
discounts to stock's last closing price
    ** Stock falls for a fifth consecutive session
    ** As of last close, stock had more than doubled in value
this year
($1 = 1.4881 Australian dollars)
 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))