Australia's Tombola Gold drops to 3-wk low on capital raise

Tombola Gold

04/11/2022 02:28

** Shares of Tombola Gold  TBA.AX  slip as much as 13.3% to
A$0.026, their lowest since Oct. 12
    ** The gold miner says it had conducted private placement
closing with about A$3.45 mln ($2.17 mln) and will also propose
a share purchase plan worth A$1 mln
    ** Issue price of A$0.026 per share is at a ~13.3% discount
to the last closing price on Nov 1
    ** Co says funds for recommissioning of Lorena gold
processing facility in Queensland, among others uses
    ** Stock has stayed flat this year, as of last close
($1 = 1.5863 Australian dollars)
 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))