BUZZ-Australia's Black Cat Syndicate falls on lower funding for WA gold operation

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** Shares of Black Cat Syndicate BC8.AX fall as much as 10.6% to A$0.210, on track for their worst day since Feb 12, if losses hold ** The gold miner replaces A$60 mln ($39.41 mln) funding package to restart co's Paulsens gold operation in Western Australia ** Co receives new funding package of A$45 mln from China-based investment firm Sundy ** Black Cat terminates A$36 mln equity placement with Fuyang Mingjin New Energy Development and Southeast Mingqing Supply Chain (Fuyang) ** Also terminates A$15 mln debt facility provided by Mingjin ** Stock hits lowest level since March 4 ** About 1.2 mln shares change hands, compared with 30-day average trading volume of 465,076 shares ** Black Cat stock down 6% YTD, as of last close ($1 = 1.5225 Australian dollars) (Reporting by John Biju in Bengaluru) (([email protected];))
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Published Date
15 Mar 2024 at 10:41 AM
Publisher
Refinitiv
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