Australia's Terracom slumps on dismal production results from flagship mine

Terracom

30/04/2024 02:40

** Shares of coal miner Terracom  TER.AX  slide as much as
11.1% to A$0.240, on track for biggest intraday pct fall since
late-Feb
    ** Co says run-of-mine coal production from its flagship
Blair Athol mine was 476 kilo tonnes (Kt) in March qtr, compared
to 539 Kt last yr
    ** Sales from the mine was 315 Kt vs 380 Kt last yr
    ** Co reports total group sales of 1.7 mln tonnes (Mt) for
the quarter
    ** More than 3.4 mln shares change hands, twice the 30-day
average volume
    ** Stock drops 35.7% this year, as of last close

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))