Australia's Sierra Rutile falls on production worries

Sierra Rutile Holdings

14/06/2023 03:45

** Shares of Sierra Rutile Holdings  SRX.AX  drop as much as
13% to A$0.20 - on track for worst session since May 4, if
current losses hold
    ** Co says June operations are being hampered by power
disruptions caused by mechanical failures at its power station
    ** Flags adverse impact on rutile production, says no longer
expects to exceed 2022 production of 136kt (kiloton) of rutile
    ** Co anticipates returning to full capacity early in Q3
    ** Stock hits lowest level since June 1
    ** More than 3 mln shares change hands, compared with the
30-day average of about 1.7 mln shares 
    ** Stock up ~2.2% this year, as of last close

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))