Australia's Belararox slips on discounted placement
23/10/2024 02:11
** Shares of Belararox BRX.AX fall as much as 12.3% to
A$0.250, their biggest intraday pct fall since Aug. 5
** Stock hits its lowest since Oct. 4
** Mineral explorer gets firm commitments to raise about A$8
mln ($5.3 mln) via placement of 32 mln new shares
** Issue price of A$0.25 is a 12.3% discount to last close
on Oct. 18, before it halted trading pending capital raising
announcement
** Co says funds will be used for exploration activities at
its TMT Project in Argentina
** About 492,670 shares traded vs the 30-day avg of 209,509
** BRX down 16.1% YTD
($1 = A$1.4975)
(Reporting by Echha Jain in Bengaluru)
((Echha.jain@thomsonreuters.com))