Australia's Westar Resources hits record low on discounted capital raise

Westar Resources

27/03/2023 02:05

** Shares of Westar Resources Ltd  WSR.AX  fall as much as
8.6% to a record low of A$0.032
    ** The miner says it is undertaking a capital raising of up
to A$2.7 mln ($1.79 mln) before costs 
    ** Issue price of A$0.03 per share is at a 14.3% discount to
last close on March 22
    ** Says proceeds to be used to fund exploration, among
others
    ** Shares post their biggest intraday pct loss since March 9
    ** Shares down for a fourth consecutive session
    ** Stock had fallen 30% YTD, as of last close

($1 = 1.5049 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))