Australia's Terracom hits over 1-year low on coal sales forecast cut

Terracom

13/06/2023 04:07

** Shares of Terracom Ltd  TER.AX  fall as much as 8% to
A$0.433, hitting their lowest level since April 1, 2022
    ** Co sees FY23 coal sales of about 1.8 metric tonnes (Mt)
to 1.9 Mt for the Blair Athol Coal Mine in Queensland 
    ** In April, the coal miner had said it expected FY23 coal
sales of 2.1 Mt 
    ** Says co faces delays due to continued pressures with the
logistics network in Queensland
    ** TER stock down 49.5% YTD, as of last close 
    
($1 = 1.4828 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))