Australia's Metro Mining eyes worst day in 3 weeks on subdued outlook

Metro Mining

31/08/2022 02:45

** Shares of exploration and mining co Metro Mining  MMI.AX 
retreat as much as 4.8% to A$0.020, on track for their sharpest
single-day pct decline since Aug. 11 
    ** Co says additional shipping delays have reduced the
likelihood of achieving upper end of its previous production
guidance for fiscal 2022  urn:newsml:reuters.com:*:nASM000P5I
    ** Says 2022 production guidance has been revised to 3.6 to
3.8 million metric tonnes (WMT), reduced from prior forecast of
3.6 to 4.0 WMT
    ** Stock hits its lowest levels since Aug. 12 
    ** More than 11.4 mln shares change hands as compared with
the 30-day average volume of ~8.2 mln shares  
    ** MMI loses over 9% in value so far this month  
    ** Stock down 10.5% this year, as of last close, vs a 6%
decrease in the benchmark S&P/ASX 200 index  .AXJO  

 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))