BUZZ-Australia's Rox Resources slips on discounted placement
Reuters
Nov 14
BUZZ-Australia's Rox Resources slips on discounted placement
** Rox Resources RXL.AX slips as much as 17.6% to A$0.375; marks biggest intraday pct loss since May 5
** Stock hits lowest since September 1
** Gold explorer receives firm commitments to raise A$200 million (~$130 million) at A$0.35/share
** Issue price represents 23.1% discount to last close
** Co will raise A$10 million via share purchase plan at same issue price as placement
** Funds will be used to develop, construct Youanmi Gold Project in Western Australia, others
** About 6.9 mln shares traded, 2.9x the 30-day average
** YTD, RXL soars 92.5%
($1 = A$1.5389)
(Reporting by Ananya Verma in Bengaluru)
((ananya.verma@thomsonreuters.com;))
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