BUZZ-Australia's Ardea Resources hits over 1-month low on discounted placement
Reuters
9 hours ago
BUZZ-Australia's Ardea Resources hits over 1-month low on discounted placement
** Shares of Ardea Resources ARL.AX fall as much as 8.8% to A$0.62, their lowest level since January 12
** Marks steepest intraday fall since February 13
** The nickel-cobalt developer receives commitments for placement to raise A$5 million ($3.55 million)
** Issue price of A$0.60 represents a discount of 11.8% to the stock's last close
** Funds will be applied to working capital as it finalises the fully-funded Kalgoorlie Nickel Project, Goongarrie Hub Definitive Feasibility Study, others
** Stock is up 5% YTD
($1 = 1.4075 Australian dollars)
(Reporting by Anjali Singh in Bengaluru)
((anjali.singh2@thomsonreuters.com; ))
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