Australia's Tesoro Gold plummets to 25-month low on discounted placement
14/06/2022 03:48
** Shares of Tesoro Gold TSO.AX decline as much as 27.7%
to A$0.047, their lowest since May 15, 2020
** Gold miner says it has received firm commitments to raise
approximately A$5.4 mln ($3.74 mln) in a placement urn:newsml:reuters.com:*:nFWN2Y00GE
** Co says funds raised will be used towards exploration and
expansion of gold resources and development of the El Zorro Gold
Project in Chile
** Issue price of A$0.06 per share represents a 7.7%
discount to stock's last closing price on June 8
** Nearly 4.8 mln shares change hands, 5.3 times the 30-day
average volume of 906,794 shares
** Shares to mark worst session since July 28, 2021 if
losses hold
** Stock had fallen 14.5% this year, as of last close
($1 = 1.4420 Australian dollars)
(Reporting by Archishma Iyer)
((Archishma.Iyer@thomsonreuters.com;))