Australia's 29Metals falls on lower quarterly production

29Metals

17/07/2025 05:10

** Shares of 29Metals 29M.AX down as much as 14.5% to A$0.295, their biggest intraday pct fall since April 30

** Stock hits lowest since June 9

** Copper-focused miner reports quarterly copper production of 5.6 kilo tons (kt) vs 6.4 kt last year from its Golden Grove project in Western Australia

** Co posted zinc production from the same mine of 12.3 kt vs 15.3 kt pcp

** Revises Golden Grove 2025 growth capital forecast down to A$61 mln ($39.55 mln) – A$82 mln, reflecting capital deferrals from 2025 to 2026 for Gossan Valley

** Shares last down 8.7%, vs YTD gains of 28.6%

($1 = 1.5423 Australian dollars)

 (Reporting by Ananya Verma in Bengaluru)

 ((Ananya.Verma@thomsonreuters.com;))