Australia's Sierra Rutile set for worst day since 3 weeks on weak production

Sierra Rutile Holdings

17/10/2022 01:39

** Shares of Sierra Rutile Holdings  SRX.AX  slip as much as
13.7% to A$0.220, on track for their worst session since Sept
26, if losses hold
    ** Co posts Sept-quarter rutile production of 28kt
(kiloton), down 22% 
    ** Says operations during the quarter were hampered by heavy
rainfall in August and September, which resulted in reduced
mining and production
    ** Sierra expects production to return to normal levels in
the remaining months of the year
    ** Stock hits lowest level since Oct 4
    ** Sierra stock down 40.7% since its IPO in late-July
 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))