Australia's 29Metals falls on weather interruptions to Queensland mine

29Metals

15/03/2023 24:31

** Shares of 29Metals Ltd  29M.AX  fall as much as 12.2% to
A$1.22, their lowest since July 18, 2022
    ** The miner provides an update on impact of extreme weather
events at co's Capricorn Copper mine in Queensland 
    ** Says due to impact of weather events, interruption to
operations at the mine is now expected to be more significant
than co's preliminary assessment on March 09
    ** Co expects the interruption to operations at the mine to
be for a period of three to four months 
    ** Co withdraws 2023 outlook for Capricorn copper mine 
    ** 29Metals shares set for worst day since Feb 27, if losses
hold 
    ** Co set to record a second session of losses 
    ** Shares down 27.2% YTD, as of last close 
   

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))