Australia's Pacific Nickel Mines extend losses on Solomon Islands unrest

Pacific Nickel Mines

29/11/2021 04:00

** Shares of Australia-based Pacific Nickel Mines Ltd
 PNM.AX  sink as much as 13.3% to A$0.078, their lowest since
Oct. 13 
    ** The nickel explorer, which has assets in the Solomon
Islands, is set to record its third consecutive session of
losses and has lost 35% of its value in November, so far
    ** Witnesses on Friday said that Australian police began
taking control of hotspots in Solomon Islands' capital city of
Honiara following three days of violent protests  urn:newsml:reuters.com:*:nL1N2SH043
    ** PNM said that it's projects have not been affected by the
incidents in Honiara  urn:newsml:reuters.com:*:nASX5Fkp0S
    ** Stock has however, fallen 24% since Nov. 25, as of 0335
GMT on Monday
    ** PNM's projects in the South-Pacific island nation include
the Jejevo and Kolosori Nickel Projects located on Isabel Island
    ** Stock posts its biggest intraday pct fall since Oct. 6
    ** PNM stock up 87.5% this year, as of last close
    
  

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))