Australia's Aurelia Metals falls on accelerating closure of NSW mine

Aurelia Metals

19/12/2022 01:55

** Shares of Aurelia Metals Ltd  AMI.AX  drop up to 13% to
A$0.118 - set for worst day since Oct. 11, if losses hold
    ** Mineral explorer says it expects its Hera underground
mine in New South Wales to permanently cease commercial
production towards the end of March 2023
    ** Says cessation of mining will be earlier than previously
planned to return the mine to a forecast cashflow positive
position for the remainder of its life
    ** AMI lowers fiscal 2023 output guidance for copper, gold,
zinc and lead due to mine closure
    ** Stock at its lowest since Nov. 23
    ** Stock has fallen ~67% this year, as of last close
 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com))