Nexus Minerals falls 5.2% on discounted A$5.4 mln placement
Shares of Australian gold explorer Nexus Minerals fell as much as 5.2% to A$0.055, their lowest since September 8, after the company announced it had secured firm commitments to raise A$5.4 million ($3.85 million) via a placement at A$0.053 per share. This issue price represents a discount of 8.6% to the stock's last close. The funds are earmarked for drilling at its Wallbrook gold project and other exploration activities.
055, their lowest level since September 8, and were on track for their weakest session since September 4. 6% discount to the stock's last close. The company said the funds will be used for drilling at the Wallbrook gold project and other purposes, it added. 4% year-to-date.