Australia's Siren Gold hits 3-month low on discounted placement

Siren Gold

03/02/2023 01:02

** Shares of Siren Gold Ltd  SNG.AX  drop as much as 8.6% to
A$0.160, their lowest since Nov 2, 2022
    ** Gold explorer says received firm commitments to raise
A$2.6 mln ($1.84 mln) via placement
    ** Issue price of A$0.15 per share is at a 14.3% discount to
stock's last close on Jan 30
    ** Co says funds will be used to continue exploration at
high-grade Reefton and Sam's Creek Goldfields
    ** Stock posts biggest intraday pct loss since Jan 13
    ** Volumes 4.3x the 30-day average of 85,701 shares
    ** Stock fell ~36% in 2022
($1 = 1.4146 Australian dollars)
 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))