Kryso Resources shares plunged on Monday after the mineral exploration company reported delays in its Pakrut gold project in Tajikistan.

The construction of the underground mine and associated infrastructure at Pakrut was halted. It will no longer meet the schedule to be completed by March 2014.

"Construction operations at Pakrut, which are in their early stages, are ongoing but delays have been experienced," the group said.

"The company retains full confidence in the project construction and potential and will advise a new target date for the completion of construction and commencement of gold production at Pakrut in due course."

Broker view Commenting on the update, Investec stated: "We had only assumed production from the second half of 2014 so our analyst sees no reason to make any changes to our assumptions until advsied otherwise."

Shares were down 6.91% to 32p at 12:25 on Monday.

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