Angel Mining saw a fifth of its share value wiped out in early trading after it had temporarily postponed work at the Nalunaq gold mine in Greenland.
The firm said this was because of faulting in the South Block that diminished the grade of the material being processed.
This meant further development would stop until it could study the structural displacement of mineralisation in this area, the firm said.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
But it added that the gold produced in June would raise approximately $1.3m, covering the group's operating costs for the month.
Angel said it had completed two gold dor pours before work stopped, bringing the total amount of dor poured in June to 27.46kg (883 oz).
The next gold pour is expected to be in late July and the company expects the quantities of gold produced to resume growing because it will be processing ore from higher grade pillars.
However, it has to wait for Greenland's Bureau of Minerals and Petroleum to issue a permit before it can begin to mine the high grade pillars.
Following the announcement Angel's shares fell 19% but recovered to trade down 15% after almost an hour of trading.
Trust in US TIPS to beat inflation
In an inflationary market TIPS, the US Treasury Inflation-Protected Securities are most compelling says Cris Sholto Heaton.
By Cris Sholto Heaton Published
The jury's out on the AI summit at Bletchley Park
World governments gathered for an AI summit at Bletchley Park in November, but were they too focused on threats at the expense of economic benefits?
By Simon Wilson Published