Australia's Rox Resources slides on discounted capital raise

Rox Resources

26/04/2024 02:04

** Shares of Rox Resources  RXL.AX  drop as much as 20% to
A$0.180, set to fall most since July 6, 2023, if trend holds
    ** The gold explorer announces entitlement offer to raise up
to A$7.62 mln ($4.97 mln) to advance Youanmi Gold Project,
Western Australia
    ** Offer price of A$0.165 per share at a 26.7% discount to
stock's last close
    ** Stock at lowest level since April 3    
    ** About 445,327 shares change hands, compared with the
30-day average volume of 385,876
    ** Stock set for worst week since Jan 19, if losses sustain
    ** RXL stock up 21.6% YTD, as of last close

    ($1 = 1.5330 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))