Australia's Allegiance Coal hits 7-yr low on weak production from U.S. project

Allegiance Coal

19/12/2022 01:16

** Shares of Allegiance Coal Ltd  AHQ.AX  fall as much as 5%
to A$0.038, their lowest level since Dec 3, 2015
    ** Coal miner says production from co's New Elk project in
Colorado U.S. has been "disappointing" in November
    ** Says ongoing equipment reliability and staffing
recruitment and availability are continuing to be the main
issues affecting production at the project 
    ** Says equipment failure as well other related issues were 
 causing production delays at project  
    ** Shares of co are down 89% YTD as of last close 
 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))