ReutersReuters

Australia's Capricorn Metals falls on FY24 gold production forecast downgrade

** Shares of gold producer Capricorn Metals CMM fall as much as 7.5% to A$5.080, set for their worst day since Dec 5, 2023, if losses hold

** Co says gold production for June 2024 quarter expected to be 26,000 ounces – 29,000 ounces, resulting in FY24 annual production of 112,000 ounces – 115,000 ounces

** Co earlier gave a FY24 outlook of 115,000 – 125,000 ounces

** Stock hits lowest level since March 27

** About 1.7 mln shares change hands, compared with the 30-day average volume of 1.3 mln

** CMM up 16.6% YTD, as of last close

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