Australia's 29Metals hits two-month low on weak September-quarter output

29Metals

Wed 05:25

** Shares of Australia's 29Metals 29M.AX fall as much as 12.9% to A$0.27, their biggest intraday percentage drop since April 16 
** Stock hits its lowest level since August 5
** The copper miner reports September-quarter copper production from the Golden Grove mine in Western Australia of 4.2 kt, down from 4.8 kt in June quarter
** Zinc production from the site falls to 2.0 kt from 3.1 kt in prior quarter
** Quarterly gross revenue falls to A$94.1 million ($66.01 million) from A$164.4 million in June quarter, reflecting lower sales volumes following a planned maintenance shutdown
** About 8.24 million shares change hands, 2.5 times the 30-day average volume
** Stock down 44.5% YTD, including moves in current session

   ($1 = 1.4255 Australian dollars)

 (Reporting by Swetha Lakshmi in Bengaluru)
 ((Swetha.Lakshmi@thomsonreuters.com;))