First Quantum shares plunge following Cobre Panama news

Shares of First Quantum Minerals Ltd. experienced a day of high volatility on September 30, amid the presentation in Panama of the Interministerial Commission’s report on the future of Cobre Panamá, which recommended the orderly closure of the Donoso mine.

During the session, the shares fell as low as $28 Canadian dollars ($19.73), after having closed the previous day at $45.12 Canadian dollars ($31.80).

At one point during the day, the drop reached around 31% , while trading was even temporarily suspended by an automatic volatility mechanism of the Toronto Stock Exchange.