Australia's Turaco Gold slips on discounted placement

Turaco Gold

18/06/2025 04:37

** Shares of Turaco Gold TCG.AX fall 1% to A$0.48

** Stock fell as much as 6.2% to A$0.455 in early trade, their largest intraday pct loss since mid May

** Gold explorer receives firm commitments to raise A$60 million ($38.93 million) via a placement

** Placement issue price at A$0.44 per share, a 9.3% discount to stock's last close

** Says funds will be used to advance growth and development of co's Afema project in Cote d' Ivoire

** More than 3.7 million shares change hands, 2.2 times the 30-day average

** Stock down 92.2% YTD, including the day's moves

($1 = 1.5411 Australian dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))