Australia's Rox Resources hits 2-week low on discounted placement

Rox Resources

23/08/2023 03:57

** Shares of Rox Resources Ltd  RXL.AX  fall as much as 4.4%
to A$0.215, their lowest level since Aug 10 
    ** Gold explorer raises A$7.0 mln ($4.51 mln) through a
share placement 
    ** Issue price of A$0.20 per share represents an 11.1%
discount to stock's last close 
    ** Co says proceeds from placement will be used to progress
exploration at co's Youanmi gold project in Western Australia 
    ** Shares up 28.6% YTD, as of last close 
   
($1 = 1.5509 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))