Sierra Rutile hits record low; suspends operations at Sierra Leone project

Sierra Rutile Holdings

29/01/2024 02:14

** Shares of Australia's Sierra Rutile Holdings  SRX.AX 
fall as much as 56.9% to A$0.056, their lowest level ever 
    ** Stock posts its biggest-ever intraday fall
    ** The natural rutile producer says Area 1 operations in
Sierra Leone to be suspended
    ** Suspension following Sierra Leone govt's decision 
    ** Says on Jan. 22, got correspondence for co to revert to
fiscal regime, as at Nov. 2001, between co and govt. of Sierra
Leone
    ** 8.5 mln shares change hands as of 0210 GMT, vs 30-day
average volume of 962,426 shares
    ** Stock fell 57.3% in 2023

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))