Australia's Hazer Group falls on reactor fabrication delay for project

Hazer

10/12/2021 24:04

** Shares of graphite and hydrogen producer Hazer Group
 HZR.AX  fall as much as 11.8% to A$1.080, set for their biggest
intraday percentage loss since Sept 13 
    ** Says there has been a delay to the completion of the
fabrication of the reactor for the Hazer Commercial
Demonstration Project near Perth  urn:newsml:reuters.com:*:nASX9Xmyds
    **  Says expected to delay the planned commissioning of the
Hazer CDP, which is now expected to occur after 1Q 2022.
    ** Co says it has been advised that a manufacturing flaw has
been identified in the Hazer reactor vessel currently waiting
for heat treatment in China
    ** Says it anticipates at least an 8 to 12 week delay which
could impact the project schedule significantly 
    ** Stock hits lowest since Dec 6 and is on track to extend
losses to a second straight session 
    ** Stock up ~52.2% this year as of last close 

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))