Australia's Rimfire Pacific tumbles on discounted placement

Rimfire Pacific Mining

14/12/2023 02:44

** Shares of Rimfire Pacific Mining  RIM.AX  fall as much as
15.4% to A$0.011, posting their biggest intraday percentage loss
since Oct 18
    ** Stock hits its lowest level since Dec 6
    ** The gold and copper explorer says it will raise A$1.2 mln
($805,680.00) via share placement at an issue price of A$0.01
per share
    ** Issue price represents a 23.1% discount on stock's last
close on Friday
    ** Shares had been on a trading halt since Monday
    ** About 13.1 mln shares change hands, compared with the
30-day average volume of 2.2 mln
    ** Stock up 62.5% YTD, based on last close

   ($1 = 1.4894 Australian dollars)

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