MDM Engineering Group warns its pre-tax profits could be 4-8% below expectations if First Uranium suspends the gold and uranium project in Stilfontein, South Africa.
MDM believes phase two of the project may be suspended after First Uranium announced it was seeking to delay development because environmental authorisation for the tailings storage facility had been withdrawn.
MDM said it had not yet received any formal notification from First Uranium regarding the suspension or a revised timetable and would notify the market when further information was available.
Story provided by Business Financial Newswire
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