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The latest announcement is out from 29metals Ltd. ( (AU:29M) ).
29Metals Limited has reported a seismic event at its Golden Grove mine’s Xantho Extended orebody, which has led to the withdrawal of its zinc production guidance for the year. While no injuries occurred, the company is assessing the time needed to reinstate ground support to access high-grade zinc ore. In the interim, lower-grade zinc ore will be mined, although production guidance for copper, gold, and silver remains unchanged. An update on the situation is expected in the upcoming September quarterly report.
The most recent analyst rating on (AU:29M) stock is a Hold with a A$0.30 price target. To see the full list of analyst forecasts on 29metals Ltd. stock, see the AU:29M Stock Forecast page.
More about 29metals Ltd.
29Metals Limited is a mining company based in Melbourne, Australia, focusing on the extraction and production of metals such as zinc, copper, gold, and silver. The company operates the Golden Grove mine in Western Australia, which is a significant site for its zinc production.
Average Trading Volume: 3,893,599
Technical Sentiment Signal: Buy
Current Market Cap: A$713.1M
For detailed information about 29M stock, go to TipRanks’ Stock Analysis page.