Australia's BMG Resources marks worst session in 2 months on discounted placement
09/06/2022 03:49
** Shares of BMG Resources BMG.AX drop as much as 11.1% to
A$0.04, their biggest intraday loss since April 6
** Gold explorer says it got firm commitments of A$2.5
million through a placement of 66 mln shares urn:newsml:reuters.com:*:nFWN2XV0XS
** The issue price of A$0.038 represents a discount of 15.5%
to June 6 close, when the stock last traded
** Explorer says funds will be used for drilling and
exploration campaigns for its gold projects in Western Australia
** As of last close, stock is down 23.7% this year
(Reporting by Navya Mittal in Bengaluru)
((navya.mittal@thomsonreuters.com))