Business
Why the Regis Resources (ASX:RRL) share price is crashing 17% lower
The Regis Resources Limited (ASX: RRL) share price has returned from its trading halt and is crashing notably lower.
In early trade, the gold miner’s shares are down 17% to a 52-week low of $2.61.
Why was the Regis share price in a trading halt?
The Regis Resources share price was placed in a trading halt this week while it launched an equity raising.
The company launched the equity raising after signing a conditional binding agreement with IGO Ltd (ASX: IGO) to acquire its 30% interest in the Tropicana Gold Project for A$903 million.
This morning Regis Resources announced the successful completion of its institutional placement and the institutional component of its fully underwritten entitlement offer.
According to the…
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