Huge fair-value swings for penny stock trio

Singapore

DRASTIC changes in the fair values of financial assets belonging to the troubled penny stock trio - Asiasons Capital, Blumont Group and LionGold Corp - led to huge swings in their latest quarterly results released this week.

Yesterday, LionGold also unveiled plans to raise net proceeds of $17.1 million for its gold-mining operations and for working capital, a month after it had aborted a private placement of shares and warrants to raise $202 million, citing volatility in its share price.