Australia's Element 25 falls on manganese plant outage

Element 25

22/11/2021 02:13

** Shares of Element 25 Ltd  E25.AX  fall as much as 10.6%
to A$1.05, post their steepest intraday pct drop since Nov. 10
    ** Mineral explorer says processing plant at its Butcherbird
Manganese Project in Western Australia experienced a logwasher
shaft failure on Nov. 18  urn:newsml:reuters.com:*:nASX2vM2FN
    ** Says it has temporarily shut the plant to solve the
problem 
    ** Adds total production volumes will reduce to about 43,000
tonnes from expected 47,000 tonnes due to the outage
    ** Says there were no injuries or damage to other plant
components, and estimates full plant restart by mid-December
    ** Shares hit their lowest since Nov. 11
    ** As of last close, stock down 22.2% this year

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))