Australia's 29Metals rises on new production forecast for copper mine

29Metals

23/05/2023 01:52

** Shares of 29Metals Ltd  29M.AX  rise as much as 5.7% to
A$1.115, their biggest intraday percentage gain since May 8
    ** The miner provides 2023 production outlook for its
Capricorn copper mine for ore mined in the range of 514 kilo
tonnes to 584 kilo tonnes
    ** Stock hits highest since May 15
    ** Co had previously withdrawn its 2023 forecast for its
Capricorn mine, following an extreme weather event and ending of
ops & pending completion of its recovery planning
    ** Stock down 44.8% YTD, as of last close 
    


 (Reporting by Riya Sharma in Bengaluru)
 ((Riya.Sharma@thomsonreuters.com;))