AJ Lucas Group Limited
(ASX:AJL) has issued a downgrade to its 2012 full year earnings guidance adjusting its underlying financial forecast to $32- $37 million from the $50 million that it originally reported.
The mining services company has been impacted by wet weather over the past few weeks precluding its drilling operations in Queensland.
AJ Lucas says it’s also seeking to raise $15.5 million from new investors at an issue price of $1.35.
AJ Lucas reported a $13.6 million net loss for the half year ending 31 December, 2011.
