In today’s briefing:
- Ohayo Japan |NUGGET: Tepco ¥9 Trillion on Decarbonization – Boon for KANDENDO
- China TMT Update June 29-NIO/XPEV/BEKE:NIO’s New Order Intake;Xpeng Likely to Slightly Beat;
- China TMT Update-2618.HK/2352.CH/3690.HK/PDD/BEKE-Cainiao Launching Express Delivery Network
- New World Resources Ltd – Advancing the Antler Copper Deposit in Northern Arizona
Ohayo Japan |NUGGET: Tepco ¥9 Trillion on Decarbonization – Boon for KANDENDO
- OVERSEAS. SPX +0.4% AS Banks lead after passing Fed’s stress test= PAYOUTS ! 2 Fed hikes more likely says Swaps markets; US 1Q GDP REVISED UP to 2%.
- JAPAN. NKY Futs +0.3% vs Cash; USDJPY 144.8; End of Month/Quarter; Flat NKY Today = +18.5% QTD..best Quarter in a Decade ! Big Japan AGM Week -Biz leaders get heat.
- NUGGET. Kandenko(1942) set to benefit from the massive drive to decarbonize by key client TEPCO. Co is still trading below book, is net cash, with earnings set to grow !
China TMT Update June 29-NIO/XPEV/BEKE:NIO’s New Order Intake;Xpeng Likely to Slightly Beat;
- NIO: NIO’s new order intake in June exceeds 20k units (+)
- XPEV: Xpeng is likely to slightly beat 2Q23 guidance (+)
- BEKE：Property transactions in June is weak, but likely to bottom-out(-)
China TMT Update-2618.HK/2352.CH/3690.HK/PDD/BEKE-Cainiao Launching Express Delivery Network
- 2618.HK/002352.CH: Cainiao launching its own national express delivery network (-/-)
- 3690.HK/PDD: Meituan planning to launch “Summer War” in community group buying (-/-)
- BEKE: Beike is planning to extend business to real estate upstream, exploiting extra value beyond new home sales channel(-)
New World Resources Ltd – Advancing the Antler Copper Deposit in Northern Arizona
- New World Resources Ltd (ASX:NWC) is developing the Antler copper deposit in northern Arizona and the earlier-stage Javelin copper project which lies about 75kms to the south- east of Antler.
- The company has recently released an updated scoping study (May 2023) in which it upgraded the production profile by 30% to 15.4Mt at 1.3Mtpa for 13 years at an average grade of 3.0% copper equivalent (Cu Eq.) for capex of US$252m to deliver 381,400 tonnes of Cu Eq metal.
- The study identified that over the life of the project, Antler should produce US$3.0bn in revenue and US$1.5bn in free cashflow with a pre-tax IRR of 40.2%. New World is also undertaking a pre-feasibility study on the project and intends submitting mine permit applications in Q3 2023.
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