Chrysos Corporation told shareholders last week that it expected earnings to come in at the lower end of its $7-17 million forecast range and revenue to fall below a previously announced range of $48-58 million.

This update, alongside an announcement that its deployment schedule was being affected by “site-readiness challenges”, led to disappointed shareholders.

The company’s share price dropped by 23.42 per cent over the five days ending Friday 26 April, though the firm’s shares remain up 29.68 per cent on a year-on-year basis.

Full year Chrysos Corporation earnings before interest, tax, depreciation and amortisation are now expected to be $8.5 million, which is at the lower end of the forecast range but 143 per cent above FY23 results.

Revenue is expected to be $45 million, below the forecast range of $48-58 million. This would still be a 69 per cent improvement on FY23.

In the latest quarter, Chrysos Corporation recorded total revenue of $12.9 million, reflecting 28 per cent growth quarter-on-quarter.

“Looking forward more broadly, Chrysos’ sales opportunity pipeline remains strong, and we expect a buoyant gold price to drive an increased number of samples through our laboratory-based units,” Chrysos managing director and CEO Dirk Treasure said.

“As previously flagged to the market, we are working constructively with relevant customers to mitigate the site-readiness challenges currently affecting our unit deployment schedule.

“Concurrently, we are focused on signing new contracts and diversifying our customer base, which would allow us to accelerate unit installations through FY25.”

Neurizer topped the Losers list this week, after completing a $151,000 raise via the issue of cheap shares.

Koonenberry Gold dropped too, after issuing a project update for one of its gold projects.

The company said it encountered unexpectedly difficult drilling conditions, and an Air Core rig couldn’t penetrate the ground to planned depths at the New South Wales site.

“We are pleased to inform our shareholders that we are doing what we said we would do and are getting on with the job,” Koonenberry Gold managing director Dan Power said.

“Being the first company to ever drill at any prospect can be rewarding and can also bring unexpected challenges.

“Whilst there is encouragement in what we have seen, the ground conditions at Atlantis were such that the small Air Core drill rig was unable to penetrate the hard ground encountered and we will require a different drill rig to test the three EM conductors which are interpreted to represent sulphides at depth.”

Antara Lifesciences topped the Winners list this week, rising by 23.08 per cent with no major announcements posted to shareholders.

Andromeda Metals also made it into the top five after completing the sale of its 25 per cent interest in the Wudinna gold mine in South Australia.

Other winners included Axiom Properties, Terramin Australia, and Elixir Energy.

The full list of Winners and Losers for the week ending 26 April 2024:

Data compiled by Baker Young Limited analysts.