** Shares of Elixir Energy EXR.AX fall 4.6% to A$0.042
** Stock fell as much as 18.2% earlier in the day, touching its lowest level since July 6, 2020
** The gas explorer says it will undertake a placement to raise A$7 million ($4.38 million) to fund farm-in work at Taroom Trough in Queensland
** Placement at 3.5 Australian cents per share, a 20.5% discount to the stock's last close
** Stock down 6.8% YTD
($1 = 1.5964 Australian dollars)
(Reporting by Adwitiya Srivastava in Bengaluru)
((Adwitiya.Srivastava@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.