Australia's Riversgold falls to 2-wk low on discounted placement

Riversgold

14/11/2022 04:54

** Shares of Riversgold Ltd  RGL.AX  fall as much as 9.1% to
A$0.04, their lowest since Nov. 1
    ** Mining co says firm commitments received to raise about
A$6.09 mln ($4.07 mln)
    ** Placement at issue price of A$0.036 per share, which is
at a discount of 18.2% to stock's last close 
    ** Says funds to be used for lithium exploration programmes
in co's projects 
    ** Co sees biggest intraday fall since Nov. 3
    ** More than 11.16 mln shares trade hand compared to 30-day
average trading volume of 9.56 mln shares
    ** Shares of co are up 185.7% YTD as of last close 
($1 = 1.4977 Australian dollars)
 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))