Exploration company Minmet said today there had been no material change in its circumstances to cause a decline in its share price.
The company said it was aware of recent negative comments on Internet bulletin boards, describing some of the material as 'erroneous and misleading'.
An article on financial website www.michaelwalters.com said that the stock had been unrealistically tipped and recommended investors cut their losses.
But Minmet said it was involved in a number of exploration programmes in Brazil for gold and diamonds, and that negotiations on activities in Portugal were at an advanced stage.
Shares in the company were down nearly 4% to 18.5p sterling in London this morning.
