Sierra Nevada Gold's Australia-listed shares tumble on discounted placement

Sierra Nevada Gold

30/05/2024 02:24

** ASX-listed shares of Sierra Nevada Gold  SNX.AX  fall as
much as 37.5% to A$0.075, their record intraday percentage
decline
    ** The U.S.-based gold miner says it will raise A$2.8 mln 
($1.85 mln) via placement at A$0.056 per share
    ** Placement price represents a 53.3% discount on co's last
close on Monday 
    ** Shares were on trading halt on Tuesday and Wednesday
    ** Sierra Nevada stock up 33.3% YTD, based on last close

   ($1 = 1.5119 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))