London-listed Ferro-Alloy Resources tanks on supply snags

Strickland Metals

21/08/2023 08:51

** Shares of Guernsey-based Ferro-Alloy Resources  FARF.L 
down as much as 18% at 8.5p; top pct loser across London bourse
    ** The vanadium producer says further unexpected supplier
and transport delays impacted its output in Q3, and will
materially affect Q3 financial results
    ** Co adds possibility of some more limited shortfalls
affecting production in Q4
    ** However, sees both FY23 production and results to be
significantly better than FY22
    ** Shares hit lowest level since Nov 2020
    ** Shares trading with a volume of 353,825
    ** Liberum cuts target price to 38p from 39p
    ** Ferro-Alloy shares down ~7% YTD

 

 (Reporting by Anchal Rana in Bengaluru)
 ((Anchal.Rana@thomsonreuters.com; +91 9915609050;))