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…
-
Noosa News22 hours agoFamilies of house fire victims speak out, ‘overwhelmed with grief’
-
Noosa News22 hours agoSuspected human remains uncovered near highway town
-
General15 hours agoCarney cautious after reports of Canada-US trade deal
-
Noosa News24 hours agoQueensland police called in to investigate after five people hospitalised from rat poison