Australia's Hawthorn Resources sees worst day in more than 5-1/2 years

Hawthorn Resources

08/09/2021 04:03

** Miner's shares  HAW.AX  fall as much as 26.67% to A$0.04;
stock posts biggest intraday pct fall since Jan. 25, 2016
    ** The Anglo-Saxon gold project, which belongs to Hawthorn's
70%-owned JV, was found to be not profitable for mining at
current gold prices, company says  urn:newsml:reuters.com:*:nASX75Zmfx
    ** The project will be placed on care and maintenance
temporarily
    ** About 2.3 mln shares change hands vs 30-day avg of about
174,000 shares
    ** Stock hits lowest since Aug. 26
    ** Company's shares down 55.56% so far this year, as of
Tuesday's close

 (Reporting by Harshita Swaminathan in Bengaluru)
 ((Harshita.Swaminathan@thomsonreuters.com))