Australia's Rex Minerals falls on discounted capital raise

Rex Minerals

03/08/2023 02:26

** Shares of Rex Minerals  RXM.AX  fall as much as 19% to
A$0.203, their lowest since Dec 16
    ** The mineral explorer receives commitments to raise A$8
mln ($5.23 mln) via a placement at A$0.20 per share
    ** Issue price represents a 20% discount to stock's last
closing price on July 31
    ** More than 4.1 mln shares change hands, 10.7 times the
30-day average of 387,032 shares 
    ** As of last close, stock up 8.7% this year

    ($1 = 1.5302 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))