Australia's Rox Resources tumbles on discounted placement

Rox Resources

13/11/2024 24:38

** Rox Resources  RXL.AX  falls 11.8% to A$0.15; set for
worst trading session since late April
    ** Diversified miner gets firm commitments to raise A$27 mln
($17.6 mln) via placement of new shares
    ** Issue price of A$0.14 a 17.6% discount to stock's last
close
    ** Co says funds will be used to advance studies at its
Youanmi gold project in Western Australia
    ** Stock hits lowest since Oct. 18
    ** RXL down 18.4% YTD

($1 = A$1.5335)

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))