Kalamazoo Resources rises 17.9% on premium placement

Kalamazoo Resources Ltd shares gained as much as 17.9% to A$0.165, their biggest intraday percentage gain since June 15, hitting their highest level since September 9. The gold and base metals exploration company announced a A$10 million placement at A$0.18 per share, a 28.6% premium to its last close on October 5. Proceeds will be used for ongoing resource-growth drilling.