Australia's Koonenberry Gold falls on discounted placement

Riedel Resources

21/07/2026 03:59

** Shares of Australia's Koonenberry Gold KNB.AX drop as much as 4.8% to A$0.02, their lowest in nearly a week
** Mineral exploration co receives firm commitments to raise A$4 million ($2.80 million) via share placement
** Issue price of A$0.02 per share represents a 4.8% discount to co's last close
** Adds, funds will be used to accelerate drilling across its Enmore and Lachlan projects in New South Wales
** Stock down 50% YTD, including session's moves

($1 = 1.4269 Australian dollars)

 (Reporting by Shravya Marakini in Bengaluru)
 ((Shravya.Marakini@thomsonreuters.com;))