Australia's 29Metals tumbles on withdrawing annual zinc guidance

29Metals

30/09/2025 04:50

** Shares of 29Metals Ltd 29M.AX fall as much as 27.5% to A$0.395, hitting their lowest in a year

** Stock logs largest intraday pct drop since late March 2024, making it the top loser on the ASX All Ordinaries index .AORD

** Diversified metals explorer withdraws full year guidance for zinc production

** Attributes action to a minor volcanic activity within the Xantho Extended orebody at its Golden Grove mine in Western Australia, says no injuries reported

** Says production guidance for all other metals is maintained

** Around 13.8 million shares change hands, 3.3 times the 30-day average

** 29Metals set to log a 24.3% rise in September, extending gains for second month

** Stock up 71.4% YTD, including current session moves

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))