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TDUX
May 08 - 02:55 AM

Gold - Australia's Tanami Gold Loses Most In 11 Years On Discounted Share Offer

By Aamir Sheik Khalid  —  May 08 - 01:13 AM

• Shares of Australia's Tanami Gold fall as much as 17.4% to A$0.076, biggest intraday pct drop since April 27, 2015

• Stock touches lowest point since December 23, 2025

• Gold explorer says it will raise up to A$70.5 million ($50.90 million) through entitlement offer

• Offer price of A$0.06/share marks a 34.8% discount to firm's last close on 27 April, before it went on a trading halt for the announcement

• Says funds raised to be used to meet project obligations, among others

• Stock down 16.1% so far this week, set for its worst week since mid-March

• Stock down 4.9%, YTD

($1 = $1.0000)

($1 = 1.3850 Australian dollars)

(Reporting by Aamir Sheik Khalid in Bengaluru)

Source:
London Stock Exchange Group | Thomson Reuters

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