Australia's S2 Resources faces worst day in 3 years on discounted placement

S2 Resources

12/12/2023 24:54

** Shares of S2 Resources Ltd  S2R.AX  fall as much as 17.1%
to A$0.17, set for worst day since Dec. 14, 2020 if losses hold 
    ** Stock hits its lowest level since Dec 1 
    ** Mineral explorer says it has raised A$7 mln ($4.60 mln)
in a placement to boost gold and base metal exploration at its
projects in Australia
    ** Adds placement at A$0.17 per new share, a ~17.1% discount
to stock's last closing price of A$0.2050 
    ** About 1.5 mln shares change hands, 2.6 times the 30-day
average volume of 558,643
    ** Stock had risen 24.2% this year, as of last close on Dec.
7
  
($1 = 1.5232 Australian dollars)

 (Reporting by Neha Soni in Bengaluru)
 ((Neha.Soni@thomsonreuters.com))