Australia Rox Resources skids on discounted capital raise

Rox Resources

09/11/2022 24:04

** Shares of Rox Resources  RXL.AX  skid as much as 10.5% to
A$0.170, hitting their lowest levels since Oct 28 
    ** The diversified miner says it has received binding
commitments to raise A$4 mln ($2.60 mln) via a share placement,
and A$1 mln via a share purchase plan  urn:newsml:reuters.com:*:nL8N3249KP
    ** Co says funds raised will be used progress exploration
and feasibility studies at the Younami Gold Project in Western
Australia  
    ** Issue price of A$0.165 per share is at a 13.2% discount
to the last closing price on Nov 4 
    ** Stock down ~48% this year, as of last close
($1 = 1.5370 Australian dollars)
 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))