As has already become customary, Talvivaara Mining (OMX: TLV1V, LSE:TALV) appears to be once again missed its own quarterly guidance. The company announced it produced 3 374 tonnes of nickel in Q1 2012 adversely affected by well known metals recovery plant downtime.
The company says it still expects to meet the guidance range of 25 000 – 30 000 tonnes of nickel for the full-year but admits that the production is more likely to be closer the lower end of the range. Even that does seem pretty hard to reach.
The low production volumes on Q1 had an adverse impact on financial results and the company will report an operating loss for the quarter. Once again, the company is still optimistically guiding that the 2012 guidance will be met as progress is starting to be shown. The share has slid around 15% following the news.
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