BUZZ-Australia's MinRes tumbles as costs rise, revenue falls short

Reuters
01-30
BUZZ-Australia's MinRes tumbles as costs rise, revenue falls short

** Shares of Mineral Resources MIN.AX down 5.7% to A$34.19

** Stock falls as much as 6.4% earlier in the day, marking its biggest intraday drop since Nov. 13 and hitting its lowest since Jan. 7

** Lithium miner logs lower-than-expected first-half cash and revenue of A$700 mln ($436.38 mln) and A$5.1 bln, respectively

** MIN says costs are running above expectations, but maintains 2025 guidance for continuing operations

** Stock third-biggest percentage loser in the benchmark S&P/ASX 200 index .AXJO

** "In short term, share price may continue to be volatile, and investors may want to keep a close eye on progress in addressing cost issues and meeting guidance" - Citi

** Stock up 5.8% this year, as of last close

($1 = 1.6041 Australian dollars)

(Reporting by Roushni Nair in Bengaluru)

((Roushni.nair@thomsonreuters.com;))

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