Australia's Techgen Metals falls most in 6-1/2 months on discounted placement

Techgen Metals

09/06/2023 03:04

** Shares of Techgen Metals  TG1.AX  dip as much as 13.6% to
A$0.07, posting their biggest intraday pct fall since Nov 21,
2022
    ** The gold-copper miner says it has accepted bidding
commitments for a A$0.9 mln ($603,900) placement
    ** Issue price of A$0.07 per share is at a 13.6% discount to
last close on June 5
    ** Says funds raised will be used to advance ongoing
exploration activities at John Bull gold project in New South
Wales, among others 
    ** Shares hit their lowest level since May 26
    ** TG1 stock down 1.2% YTD, as of last close 
    
($1 = 1.4903 Australian dollars)

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