Australia's Belararox falls on discounted placement

Vantage Metals

08/03/2024 02:16

** Shares of Belararox Ltd  BRX.AX  fall as much as 13.4% to
A$0.290, on track for their worst day since Jan 30, if trend
holds
    ** The mineral explorer receives commitments to raise A$4
mln ($2.65 mln) at an issue price of A$0.28 per share
    ** Co says issue price is at 17.6% discount to stock's last
closing price
    ** Stock hits its worst level since Feb 22
    ** About 1.1 million shares change hands, compared with the
30-day average volume of 199,223
    ** Stock on track for its worst week since Feb. 2 - if
trends hold
    ** Stock up over 8% this year, as of last close

   ($1 = 1.5110 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))