Cradle Arc cuts 2018 guidance, appoints senior industry execs to board

Aim-listed Cradle Arc’s share price tumbled 28% on Wednesday after the company lowered its 2018 production guidance and detailed the operational difficulties that it faced at its 60%-owned Mowana copper mine, in Botswana.

The mine’s revised guidance for 2018 is to produce 4 000 t of copper in the second half, of which only 1 000 t will be produced in the third quarter and 4 000 t in the final quarter of the year.