Australia's Rumble Resources hits near 7-year low on discounted capital raising

Rumble Resources

10/05/2024 02:16

** Shares of Australia's Rumble Resources  RTR.AX  fall as
much as 14.9% to A$0.04, lowest level since August 2017
    ** Stock posts its biggest intraday pct fall August 2023
    ** RTR on track for a third straight weekly loss
    ** Australian base and precious metals explorer announces
A$1.1 mln ($727,320.00) placement and A$2.9 mln entitlement
offer
    ** Adds placement, entitlement offer at an issue price of
A$0.04, representing a discount of 14.9% to stock's last closing
    ** Capital raising to advance Earaheedy rare earths project,
Western Queen's gold project and Wardawarra lithium project
    ** About 1.7 mln shares change hands by 0106 GMT, vs 30-day
average volume of 682,261 shares
    ** Stock down around 44.1 YTD, as of last close


($1 = 1.5124 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))