2350 GMT - Another seismic event at 29Metals's Golden Grove base-metals mine raises questions about its long-term operation, Canaccord Genuity says. Operations have been impacted three times during 2025 and at various points historically. This week, 29Metals said seismic activity had restricted access to high-grade zinc deposits at the Xantho Extended area. For Canaccord, this highlights risks as mining fronts move progressively deeper. "This forces 29Metals into lower grade remnant stopes, delivers higher costs due to increased ground support regimes and slower mining (as stresses from mining are redirected)," analyst Timothy Hoff says. Another deposit, Gossan Valley, may underpin volumes at Golden Grove in future. "But without consistent high-grade ore sources we see little opportunity to produce sustainable cash flows at the operation," Canaccord says. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

October 15, 2025 19:50 ET (23:50 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.