0123 GMT - 29Metals's delay in accessing its Xantho Extended orebody puts the miner's balance sheet at risk again, says Canaccord Genuity. 29Metals expects to complete remediation works in the December quarter, compared with its initial expectation of April. Analyst Timothy Hoff thinks 29Metals will end the year with net debt of A$138 million. He sees stress emerging in 2028, with debt payments due. "If the operation is able to generate cash in 2027, we see a good chance of refinancing," Canaccord says. "If not, we see the balance sheet again at risk." If 29Metals is only able to meet the low end of 2026 production guidance then it will need additional cash before the year-end, Canaccord suggests. It retains a sell call on 29Metals. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

April 19, 2026 21:23 ET (01:23 GMT)

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