Australia's Sunshine Gold hits two-week low on discounted placement

Sunshine Metals

15/08/2022 05:23

** Shares of mineral explorer Sunshine Gold Ltd  SHN.AX 
fall as much as 11.8% to A$0.030, their lowest since Aug. 2
    ** Co receives commitments for a placement of A$3.5 mln
($2.48 mln) before costs  urn:newsml:reuters.com:*:nASX5krcP5
    ** Co to issue new shares at A$0.025 per share, a 26.5%
discount to stock's last close on Aug. 9
    ** Says capital raised will be used to fund co's projects in
Queensland
    ** More than 1.5 mln shares change hands, 4 times the 30-day
average of 384,000 shares
    ** Stock had fallen 12.8% this year, as of last close    


($1 = 1.4094 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))