Australia's mineral sands miner Base Resources drops on weak FY23 production guidance
21/07/2022 05:34
** Shares of mineral sands miner Base Resources Ltd BSE.AX
drop as much as 3.6% to A$0.270 in their biggest intraday pct
loss since July 14
** BSE expects FY23 rutile production between 62,000 and
73,000 tonnes, compared with an output of 74,349 tonnes in FY22
urn:newsml:reuters.com:*:nASX8fgTR1
** Also expects ilmenite production between 260,000 and
310,000 tonnes in FY23, compared with 325,148 tonnes in FY22
** BSE, however, posts Jun-qtr sales revenue of $691 mln,
compared with $497 mln a year ago
** Stock down 16.4% this year, as of last close
(Reporting by Harish Sridharan in Bengaluru)
((harish.sridharan@thomsonreuters.com))