Business
Why the Chalice Gold Mines (ASX:CHN) share price is down 5% today
The Chalice Gold Mines Limited (ASX: CHN) share price has returned from its trading halt and is dropping lower.
In afternoon trade the mineral exploration company’s shares are down 5% to $3.86.
Why was the Chalice Gold Mines share price in a trading halt?
Chalice Gold Mines requested a trading halt on Monday whilst it launched an institutional placement.
This morning the company revealed that it has received firm commitments to raise $100 million through a placement at $3.75 per share. This represents a discount of 7.6% to its last close price.
Management advised that the placement was strongly supported by a range of domestic and international institutions.
It will now push ahead with a share purchase plan (SPP) which aims to…
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