Australia's Suvo Strategic Minerals falls on full-year forecast cut

Green360 Technologies

13/06/2024 04:46

** Shares of Suvo Strategic Minerals  SUV.AX  fall as much
as 10.5% to A$0.051, posting their biggest intraday percentage
decline since Nov. 7, 2023
    ** Stock hits its lowest level in a week
    ** Hydrous kaolin producer sees full-year EBITDA loss of
A$1.5 mln ($997,950.00) from its Pittong operation in Victoria,
compared with EBITDA of A$4.8 mln forecast earlier
    ** Cuts FY24 revenue forecast for Pittong to A$12.2 mln from
A$22 mln and kaolin production guidance to 20,600 tonnes from
35,000 tonnes
    ** About 2.5 mln shares change hands, compared with the
30-day average volume of around 1.5 mln
    ** Stock up 103.6% YTD, based on last close


($1 = 1.5031 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))