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Newton Resources Ltd. ( (HK:1231) ) just unveiled an announcement.
Newton Resources Ltd. has issued a profit warning, indicating an expected net loss of approximately US$2.2 million for the year ending December 2025, a significant increase from the US$0.3 million loss recorded in 2024. This decline is attributed to reduced sales and gross profit due to a decrease in iron ore supply from a major supplier and weak demand. Additionally, a rockfall incident at Koolan Island has led to the suspension of mining activities, affecting the company’s operations and financial position. The company is exploring new supply sources and potential mergers to mitigate these challenges.
More about Newton Resources Ltd.
Newton Resources Ltd. operates in the mining industry, focusing primarily on the supply of iron ores. The company is involved in the extraction and distribution of hematite ores, with a significant portion of its operations linked to a long-term supply agreement with Koolan Iron Ore Pty Limited.
Average Trading Volume: 705,134
Technical Sentiment Signal: Buy
Current Market Cap: HK$1.42B
For an in-depth examination of 1231 stock, go to TipRanks’ Overview page.