Australia's St Barbara slumps after discounted capital raise

St Barbara

04/11/2024 23:32

** Shares of St Barbara  SBM.AX  plunge as much as 20.1% to
A$0.368 per share, set for their worst day since late May - if
current trend holds 
    ** Shares hit lowest since mid-October as at 2320 GMT 
    ** The gold miner announces A$100 million ($65.87 million)
two-tranche placement
    ** Issue price of A$0.38 per share represents a 17.4%
discount to the closing price on Oct. 31
    ** Funds raised will accelerate the development schedule for
the Simberi Sulphide Expansion Project in Papua New Guinea
    ** Including session's moves, stock has risen 76.2% this
year

($1 = 1.5181 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))