Shares of Pantoro (ASX:PNR) plunges by 21.4% to A$0.056.

This dip in share price could potentially mark the company’s worst performance since February 15th, if the losses sustain.

The gold mining firm recently announced that it has secured firm commitments to raise A$30 million through a share placement.

They plan to utilize this funding to support the working capital requirements necessitated by the Norseman project located in Western Australia.

Pantoro’s shares were offered at a price of A$0.06 each, which marks a 14.3% discount from the closing price on August 4th.

This has resulted in the shares hitting their lowest point since April 4th.

As of the last close, the company’s stock has fallen approximately 27.1% this year.

Pantoro is a gold mining firm with strategic operations in Western Australia.