Australia's Renegade Resources tumbles on discounted placement

Renegade Exploration

24/04/2024 04:58

** Shares of Renegade Exploration  RNX.AX  fall as much as
20% to A$0.012, posting their biggest intraday percentage
decline since Feb. 23
    ** Copper and gold explorer says it will raise A$2.3 mln 
($1.50 mln) at an issue price of A$0.01 per share
    ** Issue price represents a 33.3% discount on co's last
close on Friday
    ** Shares were on a trading halt on Monday and Tuesday
    ** About 4.8 mln shares change hands, compared with the
30-day average volume of around 1.3 mln
    ** Stock up 114.3% YTD, as of last close

($1 = 1.5347 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))