0104 GMT - Jefferies continues to worry about 29Metals's balance sheet following its 2Q update. 29Metals's output missed the bank's expectations by some 16%, although this was partly offset by stronger revenue from its Golden Grove operation. 29Metals's share price is down 8.7% at A$0.315 because of the miss. "Operational earnings volatility continues to accentuate balance sheet uncertainty," analyst Daniel Roden says. Jefferies thinks positive pathways for improving operations are emerging. Still, the bank says "ongoing uncertainty on the timing and quantum of Capricorn Copper suspension and restart costs, debt servicing, and Gossan Hill capex obfuscates medium-term funding requirements." Jefferies retains a hold call on 29Metals. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
July 16, 2025 21:04 ET (01:04 GMT)
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