BUZZ-Australia's Reach Resources hits nearly 3-month low on discounted placement

Reuters03-26 07:41

** Reach Resources RR1.AX slips as much as 13% to A$0.010, lowest since January 2

** Gold explorer raises A$3.15 mln ($2.2 mln) via placement

** Offer price of A$0.009/share represents 18.2% discount to last close

** Co says funds from placement to be used for exploration, development of co's Murchison South Gold Project in Australia

** YTD, RR1 up 22.2% YTD

($1 = A$1.4407)

(Reporting by Aamir Sheik Khalid in Bengaluru)

((Aamir.SheikKhalid@thomsonreuters.com))

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