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ASX:NIC

6 stories mentioning ASX:NICUpdated 18m ago

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Asia

ASX Preview: Australian Shares Set to Fall as Oil Slides on Iran-US Deal Hopes; Flight Centre Travel Group Cuts Fiscal Year 2026 Profit Guidance

Australian shares are poised to fall on Wednesday, tracking an overnight oil slide after crude dropped over 5% to a three-month low on easing Middle East supply fears and reports of a possible interim Iran-US deal to reopen the Strait of Hormuz and restore Iranian exports.Overnight, the S&P 500 and the Nasdaq Composite fell 0.6% and 1.2%, respectively, while the Dow Jones Industrial Average gained 0.6%.In the macroeconomy, investors are eyeing Reserve Bank of Australia Assistant Governor Brad Jones' speech and the Westpac-Melbourne Institute Leading Economic Index report.In corporate news, Flight Centre Travel Group (ASX:FLT) cut its fiscal year 2026 underlying profit before tax guidance to between AU$275 million and AU$295 million from a previous range of AU$310 million to AU$345 million, citing the Middle East conflict's "significant short-term impact" on leisure travel.Nickel Industries (ASX:NIC) said that its combined adjusted earnings before interest, taxes, depreciation, and amortization from operations for April and May were around $80 million.Australia's benchmark index inched up 3.7 points to close at 8,917.70 on Tuesday.

ASX 200ASX:FLTASX:NIC
Asia

Nickel Industries Reports Adjusted EBITDA From Operations of Around $80 Million for April, May

Nickel Industries (ASX:NIC) said that its combined adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) from operations for April and May was around $80 million, according to a Wednesday Australian bourse filing.The adjusted EBITDA from operations of $29 million for April was negatively impacted due to eight days of downtime at the Hengjaya mine in Indonesia, subcontractor standby charges, and planned maintenance of the rotary kiln electric furnace (RKEF) 720 megawatts integrated power plants requiring third-party electricity supply for the RKEF operations, the company said.The company's RKEF operations unwound a substantial amount of working capital, and it is expected to receive around $70 million in distributions by early July.Nickel Industries said it decided not to proceed with an investment in the ONI matte converter, citing stronger margins and carbon benefits of using high-pressure acid leach technology for class-1 nickel supply. Its largest shareholder, Shanghai Decent, refunded the $15 million option fee previously paid in 2023.

ASX:NIC
Asia

Nickel Industries' Indonesia RKEF Operations May Swing to Loss-Making on Implementation of New HPM Price Formula, Jefferies Says

Nickel Industries' (ASX:NIC) rotary kiln electric furnace (RKEF) operations in Indonesia might swing to loss-making on the pass-through of the implementation of the new Harga Patokan Mineral (HPM) benchmark price formula, Jefferies said in a Monday note.Regulatory changes and supply chain disruption may re-cut the nickel cost curve, the note said.However, Nickel Industries' cost-curve position and integrated model provide structural insulation against industry-wide margin pressure, which the investment management firm believes would ultimately drive a supply-led recovery in nickel prices.At Hengjaya, implementation of the new HPM price formula, including the value of by-product credits, will increase the minimum saprolite sales price to around $60 per wet metric tonne from $29.90 per wet metric tonne and the minimum limonite sales price to around $47 per wet metric tonne from $19.90 per wet metric tonne.Market commentary suggests increased prices are not being passed downstream. If the costs are imposed at a whole industry level, this will increase HPAL cash costs by around 40%, while having an around 5% to 10% impact on RKEF operations.The investment firm assigned Nickel Industries a buy rating and a price target of AU$1.20 per share.

ASX:NIC
Asia

Nickel Industries Updates Resource of Indonesia Nickel-Cobalt Project

Nickel Industries (ASX:NIC) reported an updated resource for the Sampala project in Indonesia of 1.10 billion wet metric tonnes at 1.24% grade of nickel and 0.09% grade of cobalt, for 8 million tonnes of nickel and 583 thousand tonnes of cobalt, according to a Monday Australian bourse filing.It is making an advance payment of $28.5 million to secure its right to acquire a 60% equity interest, including control and economic rights, in PT Abadi Nikel Nusantara, whose mining concession forms part of the project. Following the advance payment and before completion of the acquisition, PT Abadi Nikel Nusantara will be managed and operated as a joint venture between Nickel Industries and the vendor.The final acquisition payment of $144 million for a 60% interest in the PT Abadi Nikel Nusantara mining concession will be due in April 2027.It submitted the feasibility study for the PT Abadi Nikel Nusantara IUP during the March quarter and expects to receive the PT Erabaru Timur Lestari feasibility study approval during the June quarter.

ASX:NIC
Asia

Nickel Industries Reports Higher March Quarter Adjusted EBITDA From Operations; Shares Hit Three-Year High

Nickel Industries (ASX:NIC) said its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) from operations came in at $135.6 million for the three months ended March 31, according to a Wednesday Australian bourse filing.The company's adjusted EBITDA from operations for the March 2025 quarter was $97.3 million, according to an earlier filing.Ore production from the company's mining operations came in at nearly 4 million wet metric tonnes, compared with 5.6 million wet metric tonnes produced in the same quarter in the previous year.The company produced 30,264 tonnes of nickel from its rotary kiln electric furnace project during the March quarter, compared with 31,793 tonnes produced in the year-ago period.The attributable production from HPAL operations was 2,153 tonnes in the March quarter, compared with 2,118 tonnes in the prior corresponding period.Nickel Industries' shares advanced 4% in recent trading on Wednesday and earlier hit their highest since February 2023.

ASX:NIC
Asia

Nickel Industries Executes $450 Million Syndicated Loan Facilities Led by BNI

Nickel Industries (ASX:NIC) said it has executed new $450 million syndicated loan facilities led by PT Bank Negara Indonesia (BNI), comprising a $350 million term loan and a $100 million revolving loan facility, both unsecured, according to a Tuesday Australian bourse filing.The company said the facilities have been established to retire its existing $398 million of bank loans outstanding as of March 31, as well as for general working capital purposes.The interest rate will be a margin above the Secured Overnight Financing Rate (SOFR), currently about 3.66%, at 3.50% for the first six months and thereafter linked to the company's leverage level, the filing added.Following the refinancing, the company will have net debt of about $994 million, comprising $800 million of senior unsecured notes expiring October 2030, the $350 million term loan, and $100 million revolver, and $256 million in cash, it added.

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