Australia's Gascoyne Resources falls on Sept-quarter production challenges

Spartan Resources

21/10/2022 03:05

** Shares of Australia's Gascoyne Resources  GCY.AX  fall as
much as 6.67% to A$0.21, their lowest since July 12
    ** The gold miner announces its Sept quarter activities
report 
    ** Says production for the Sept quarter from co's mine in
Dalgaranga in Western Australia was heavily impacted by
abnormally high rainfall and labour shortages
    ** Says Sept quarter production from Dalgaranga stood at
13,905 oz
    ** Co in August had updated saying that gold production for
the Sept quarter was expected to be 1000-2000 oz less than
16,298 oz in June quarter  urn:newsml:reuters.com:*:nASX9sx9qj
    ** Co gives H1 FY2023 production guidance of 25,000-30,000
oz from Dalgaranga operations
    ** Says September quarter has been challenging from an
operating perspective
    ** About 1.2 mln shares change hands, compared with the
30-day average volume of 698,470 shares
    ** Stock has fallen 21.1% this year, as of last close
 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))