Investing.com — shares tumbled over 10% on Wednesday after the Ukrainian iron ore miner stated it had sufficient money to final solely till end-June and was exploring an fairness increase to plug a possible funding hole.
Shares traded at 40.50 pence, down from an open of 49.40 pence, touching an intraday low of 38 pence on quantity of three.28 million shares.
The corporate stated web accessible money stood at roughly $22 million as of March 31, in opposition to $47 million at end-December 2025.
Out there money was $35 million with no debt drawn, diminished after accounting for funds held with MBaer Service provider Financial institution.
“The Group estimates that it has enough money till at the very least the top of June 2026,” Ferrexpo stated, including it was reviewing “potential funding choices, which may embody an fairness capital increase.” It cautioned it couldn’t make sure such choices would succeed.
Ferrexpo stated Ukraine continued to withhold VAT refunds by the primary quarter, bringing the entire owed to roughly $80 million at end-March.
The corporate warned that if the difficulty was not resolved “in enough time, this might give rise to materials unfavorable penalties.”
One pellet line remained in operation after assaults on Ukrainian power infrastructure in January 2026 disrupted output. The corporate stated manufacturing had partially recovered following enhancements in electrical energy availability and pricing.
To preserve money, Ferrexpo minimize worker working hours, suspended non-essential capital expenditure and halted all non-essential procurement, overheads and company social accountability actions.
The corporate stated it required extra time to finalise its annual accounts however anticipated to publish them on or earlier than April 30.
