Newton Resources Ltd. (HK:1231) has released an update.
Newton Resources Ltd. issues a profit warning as it anticipates a net loss of approximately $1 million for 2024, compared to a $2.4 million profit in 2023. This downturn is attributed to a decrease in both the quantity and quality of iron ore supply, coupled with weak demand, affecting the company’s gross profit. Investors are advised to approach the company’s shares with caution.
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