Australia's Hartshead Resources falls on potential UK taxation tightening

Hartshead Resources NL

08/03/2024 03:24

** Shares of Hartshead Resources NL  HHR.AX  fall as much as
30% to A$0.007, their biggest intraday loss since Jan. 20, 2020
    ** Shares hit lowest level since May 26, 2020
    ** Oil and gas explorer says UK Labour Party has outlined a
potential increase in taxation and reduction of tax relief for
UK gas developments if elected 
    ** Adds co presently assessing project economics associated
with proposed Labour party tax changes
    ** Co says project timeline currently remains uncertain
following possible delay to award of contracts for capital items
    ** HHR on track to post fourth consecutive weekly loss,
falling 31.8% 
    ** Stock down ~58% YTD

 (Reporting by Neha Soni in Bengaluru)
 ((Neha.Soni@thomsonreuters.com))