Australia's Turaco Gold falls on discounted placement

Turaco Gold

18/10/2024 04:09

** Turaco Gold  TCG.AX  falls as much as 6.9% to A$0.335 in
its worst trading session since Oct. 7
    ** Gold explorer gets firm commitments to raise A$35 mln
($23.4 mln) via a placement
    ** Issue price of A$0.31 is ~14% discount to last close
    ** Co says funds will be used to accelerate resource growth
and drilling new discoveries in Cote d'Ivoire
    ** About 2.3 mln shares change hands, 1.5x the 30-day avg
    ** TCG up 157.4% YTD

($1 = A$1.4916)

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))