Australia's Belararox slips on discounted share placement
27/09/2022 02:00
** Shares of Belararox Ltd BRX.AX fall as much as 10.2% to
A$0.575, their lowest since Sept 12
** Stock marks biggest intraday pct loss since Aug 31
** The mineral explorer announces share placement to raise
A$3.85 mln ($2.49 mln) at an issue price of A$0.55 per share
urn:newsml:reuters.com:*:nASX67xQyR
** Issue price represents a 14.1% discount to the last
closing price on Sept 21
** Co says new equity will help fund phase-2 drill programme
at its Belara project in New South Wales, among others
** BRX stock has more than tripled in value, as of last
close, since its ASX debut on Jan 28
($1 = 1.5434 Australian dollars)
(Reporting by Nausheen Thusoo)
((Nausheen.Thusoo@thomsonreuters.com;))