Australia's Thomson Resources falls most in nearly 3 years on discounted entitlement offer

Silver Metal

15/02/2023 03:35

** Shares of Thomson Resources  TMZ.AX  slump as much as
37.5% to A$0.010, posting their biggest intraday pct fall since
March 19, 2020
    ** Diversified miner says it is undertaking a
non-renounceable entitlement offer to raise up to A$1.74
mln($1.21 mln)
    ** Issue price of A$0.002 per share is at 87.5% discount to
last close on Feb 10
    ** Says funds raised to be used to review value-accretive
projects, among others
    ** Shares touch their lowest level since March 26, 2020
    ** Stock on track for second straight session of losses
    ** Volumes are 12.4x 30-day average of about 2 mln shares 
    ** Stock has fallen 15.8% this year, as of last close 
($1 = 1.4403 Australian dollars)
 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))