Australia's Kalamazoo Resources falls on discounted equity raise

Kalamazoo Resources

04/09/2024 02:01

** Shares of Kalamazoo Resources  KZR.AX  fall as much as
18.8% to A$0.078, their lowest levels since Aug 21
    ** The gold and lithium explorer plans to raise up to
A$1.275 mln ($854,250.00) via share purchase plant and placement
    ** Issue price of A$0.08 per share represents a 16.7%
discount to co's last close
    ** Co says funds will be used in our upcoming RC drill
programme at Mallina West Gold Project, and others
    ** About 578,800 shares change hands, 2.1 times the 30-day
average volume of shares
    ** Stock has fallen 20% this year, as of last close

    ($1 = 1.4925 Australian dollars) 

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