Australia's Chrysos set for worst day in nearly 5 months on bleak FY24 outlook

Chrysos

24/01/2024 24:05

** Shares of Chrysos Corp  C79.AX  fall as much as ~7% to
A$7.100, on track for their worst day since Aug 28, if losses
hold 
    ** Stock hits lowest level since Nov 13, 2023 
    ** The mining technology provider sees FY24 revenue at
lower-end of its forecast range of A$48 mln ($31.58 mln) to A$58
mln 
    ** Co experiences delays at number of installations of co's
technology offerings due to customer site readiness and
contractor availability challenges
    ** Says goal of deploying at least 18 PhotonAssay units,
co's flagship product, during FY24 may not be achieved 
    ** Co posts total revenue growth of 13% from last quarter
    ** Chrysos stock down 5.8% this year, as of last close 
   
   ($1 = 1.5198 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))