Australia's Yandal Resources slips to 2-week low on share placement

Yandal Resources

10/11/2023 01:13

** Shares of Yandal Resources  YRL.AX  fall as much as 5.2%
to A$0.055, their lowest since Oct 27    
    ** The mineral explorer says it has received firm
commitments to raise A$4 mln ($2.54 mln) via share placement
    ** Issue price is at A$0.76 per share
    ** Funds raised will be primarily focused on drilling at the
Ironstone Well-Barwidgee, Mt McClure and Gordons projects
    ** Funds will also enable early-stage assessment for lithium
across the Yandal Belt 
    ** About 174,499 shares change hands, compared with the
30-day average volume of 137,664
    ** Yandal stock down 40.8% this year, as of last close

    ($1 = 1.5743 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))