Shares of Codrus Minerals (ASX:CDR) fell sharply as much as 14.1% to A$0.079, dipping to its lowest level since September 18.

If these losses hold, it could be Codrus’s worst trading day since August 28.

The company, a gold miner, announced it has received commitments to raise A$0.92 million through an equity placement.

Codrus said the placement was issued at 8 Australian cents per share, which is a 13% discount to its latest closing price.

The stock has seen a decline of 29.2% this year, up until its most recent closing.

Codrus Minerals (ASX:CDR) is a gold mining enterprise.