Exploration company Minmet insists there is no reason for a 4 per cent fall in its share price in early trading in London yesterday. The company said there had been no material change in its circumstances to cause a decline in its share price. The board said it had total confidence in its prospects. Mimet shares closed yesterday unchanged at 45 cents in Dublin. In London, the stock closed at 18 1/2p sterling, down from 19 1/4p.

In its statement issued yesterday, the company said it was aware of commentary in recent weeks on Internet bulletin boards, some of which had been "erroneous and misleading".