Gold producer CNMC Goldmine Holdings on Wednesday said it expects to report a "significantly lower profit" for the second quarter due to lower ore grades dragging down revenue.
The Catalist-listed company expects to announce its results for the three months ended June 30 on or before August 14, 2017.
CNMC Goldmine, which operates in Indonesia, reported a 32 percent rise in net profit to $5.85 million for the three months ended June 30, 2016.
Profit was higher last year due to the increased production and sale of gold.
Shares in the company fell as much as 10 percent before paring some of their losses to trade down 8.5 percent to S$0.27 on the Singapore Exchange.
