Australia's BMG Resources slumps on discounted placement

WA Gold

26/04/2023 03:00

** Shares of BMG Resources Ltd  BMG.AX  fall as much as
12.5% to A$0.014, their lowest since April 17
    ** Gold miner to raise up to A$2.75 mln ($1.82 mln) via
placement and entitlement offers
    ** Issue price of A$0.0125 represents a 21.9% discount to
BMG's last close prior to the placement offer (April 20) of
A$0.016 
    ** Stock posts its biggest intraday pct fall since April 18
    ** Stock down 5.9% this year, as of last close

($1 = 1.5097 Australian dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))