In today’s briefing:
- New World Resources (NWC AU)’s Possible Interloper
- Key Markets Tactical Outlooks After Israel Strike on Iran
- Shandong Gold Mining Co., Ltd. (600547.SS, 1787.HK) – Scaling Production and Enhancing Margins
- [IO Technicals 2025/24] Downward Momentum Lingers
- RHIM (NSE: RHIM) – Margins Easing, Capex Driving Growth, Integration Overhang Fading
- EU Opens Tire Duty Probe Against China, Straining Trade Environs
- SCZ: Q1 Financials Beat on Major Cost Improvements
New World Resources (NWC AU)’s Possible Interloper
- On the 21st May 2025, copper miner New World Resources (NWC AU) inked a Scheme with Central Asia Metals (CAML LN) at A$0.05/share, a punchy 95.7% premium to NWC’s 30-day VWAP.
- Copper plays are definitely in vogue after Harmony Gold Mining (HAR SJ)‘s recent Offer for MAC Copper (MAC AU), and Bastion Minerals’ tilt for Xanadu Mines (XAM AU).
- NWC closed up 4.2% yesterday, and was briefly through terms, again, today (as I type). On decent volume. Opportunistic investor (s) or a third party bidder?
Key Markets Tactical Outlooks After Israel Strike on Iran
- A quick look at the tactical forecast models for some key markets impacted by the Israeli attack to Iran on June 13th.
- We analyze: Crude Oil Futures (CL1 COM COMDTY) , Gold Futures (GOLD COMDTY) , Nasdaq-100 Index (NDX) , Nikkei 225 Index, Hang Seng Index and NIFTY Index
- Keep in mind that high volatility can push easily a market into the model’s tails, and forecasts in tails area rely on less data (i.e. less accurate).
Shandong Gold Mining Co., Ltd. (600547.SS, 1787.HK) – Scaling Production and Enhancing Margins
- EBITDA margin is expected to expand to 19% by FY27, with EPS rising from CNY 0.51 to CNY 1.10, supported by operational efficiencies and a favorable gold price environment.
- Shandong Gold aims for 70–80 tonnes of self-mined gold by 2027, with FY25–FY27 revenue projected to reach CNY118.8 billion at $3,400/oz gold price, driven by volume growth & higher prices.
- Commodity price volatility, geopolitical risks in international ventures (Argentina, Greece), and state ownership influence pose challenges to margins and shareholder value.
[IO Technicals 2025/24] Downward Momentum Lingers
- The U.S. will impose a 55% tariff on Chinese goods; China responds with 10%, as part of a deal addressing trade and fentanyl concerns.
- China’s steelmakers face pressure as EV price wars cut margins. Platts to lower iron ore spec to 61% in 2026, prompting SGX contract adjustments.
- Prices hold below key moving averages, reflecting downside momentum, while the MACD staying under its signal line supports the ongoing bearish outlook.
RHIM (NSE: RHIM) – Margins Easing, Capex Driving Growth, Integration Overhang Fading
- Margin pressures are likely to ease from Q2FY26 as raw material costs normalize and recent price hikes take effect.
- The company is executing a Rs150 Cr capex plan focused on automating DOCL plants and localizing high-margin products.
- Integration challenges, cost inflation, and inventory issues that weighed on FY24–25 performance appear largely behind now.
EU Opens Tire Duty Probe Against China, Straining Trade Environs
- Investigation covers HS codes 40111000 and 40112010
- China criticizes EU protectionism, warns of market impact
- EU tire makers to benefit but consumers may feel the pinch
SCZ: Q1 Financials Beat on Major Cost Improvements
- SCZ reported Q1 financial results that beat our estimates due decreased costs and the increased silver price.
- Santacruz reported Q1 revenue of $70.3M (+34% YoY) vs. our estimate of $69.9M and adjusted EBITDA of $27.5M (vs. negative numbers in Q1/24) beating our estimate of $14.4M.
- Cash costs and AISC came in well below expectations, highlighting the effects of management’s operational improvements over the last year.
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