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'Potential corporate fundraising' behind share price jump: BlackGold
CATALIST-LISTED coal-mining firm BlackGold Natural Resources on Tuesday said its "unusual price and volume movements" might have been due to the fact that the company is actively exploring potential corporate fundraising exercises to improve its operations capability.
It had disclosed this before in response to queries from the Singapore Exchange last October, and in its financial statements for the third quarter ended Sept 30, 2019 released last November.
BlackGold shares rose 0.3 Singapore cent or 25 per cent to finish at S$0.015, on a volume of 63 million shares that changed hands on Tuesday.
"The discussions are preliminary in nature and no definitive agreements have been entered into to date. Accordingly, there is no certainty that the fundraising will materialise," the company said, adding that it will provide updates on any material developments.