Shares Fall Over 11% Despite Record Revenue for Tungsten Miner
What happened
Shares of the company fell more than 11% on the Australian Securities Exchange on October 6, 2026, closing at 35 cents. This decline occurred despite the company reporting record quarterly revenue of 158.8 million Australian dollars for the three months ended September 30. The revenue increase was driven by sharply higher production and stronger tungsten prices.
From ibtimes.com.au
Why it matters
The stock price drop was attributed to investors taking profits following a massive rally earlier this year. Production at the Barruecopardo mine, located in Salamanca, rose 81% to 51,233 metric tonne units, indicating increased activity in the mining sector.
From ibtimes.com.au
Who's involved
- Australian Securities ExchangeThe exchange where the company's shares were traded.
- SalamancaLocation of the Barruecopardo mine in Salamanca province.
- SpainThe country in which Salamanca is located.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.