September 22nd, 2025 | 07:35 CEST
Defense fantasy and takeover buzz! Daimler Truck, thyssenkrupp, Pasinex Resources!
Defense, takeovers, and raw materials moved the stock market last week. After a period of weakness until April, the price of zinc has risen significantly again, benefiting Pasinex Resources. The Company focuses on high-grade zinc deposits in Turkey and the US, and it has now acquired 100% of a key project. Revenue and earnings are set to increase from 2026 onwards, with net margins of up to 50% on the horizon. This makes the stock appear undervalued. Will defense fantasies boost Daimler Truck's stock? The stock has been one of the underperformers in the DAX so far. In the future, the Company plans to collaborate more closely with a US defense contractor. Meanwhile, thyssenkrupp's stock is at a multi-year high. But is the Company effectively winding itself down? The latest takeover bid points in that direction.
time to read: 4 minutes
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Author:
Fabian Lorenz
ISIN:
Daimler Truck Holding AG | DE000DTR0013 , THYSSENKRUPP AG O.N. | DE0007500001 , PASINEX RESOURCES LTD. | CA70260R1082
Table of contents:
"[...] China's dominance is one of the reasons why we are so heavily involved in the tungsten market. Here, around 85% of production is in Chinese hands. [...]" Dr. Thomas Gutschlag, CEO, Deutsche Rohstoff AG
Author
Fabian Lorenz
For more than twenty years, the Cologne native has been intensively involved with the stock market, both professionally and privately. He is particularly passionate about national and international small and micro caps.
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Pasinex Resources: Up to 50% margin with zinc
One of the most interesting commodity stocks at the moment is Pasinex Resources. The Company acquires and develops exceptionally high-grade zinc deposits in Turkey and the US. The stock has doubled in recent months. At a current price of CAD 0.08, however, the Company is still only worth CAD 12.4 million on the stock market. Too little?
Last week, Pasinex reached an important milestone. The Company secured 100% of the license for the high-grade Sarikaya zinc project in central Turkey - the key project for Pasinex. Its high-grade characteristics are expected to enable rapid capital repayment, low economic risk, and considerable upside potential from rising zinc prices. After-tax margins of 30% to 50% are expected to be possible.
Pasinex now has a free hand at Sarikaya and will rapidly expand the project. A high-grade zone with a zinc content of 30% to 50% has already been identified this year. Tunneling work for development is scheduled to begin in the fourth quarter. Mining could then start as early as the first half of 2026. At the same time, the Company is confident that it will find further high-grade zones to significantly expand the project.
Pasinex manager Aydin Sen commented: "Sarikaya has high-grade carbonate-hosted zinc mineralization with great potential for direct shipment to refineries, requiring little processing. Along a one-kilometer-long fault that has not yet been mapped or drilled, there are outcrops of iron hat, barite, lead, and zinc mineralization. These features suggest significant discovery potential. In addition, high-grade zinc has already been exposed in certain areas of the existing adit, which is accessible for the production of direct-shipping material. To fully realize the value of the project, the application of advanced exploration techniques and strategic planning are critical."
Important date: On October 8, 2025, Pasinex will present at the 16th virtual International Investment Forum, IIF. Private and institutional investors can register here to participate free of charge. Many exciting German and international small and mid-cap companies will be presenting.
Daimler Truck could use some defense fantasy
Defense fantasy for Daimler Truck shares. Is the next high flyer in the starting blocks? The share price could use some upside potential. The price gain in the current year is only 3.81%, which is significantly behind the DAX.
On Friday came the surprising announcement that the Company intends to work more closely with General Dynamics Land Systems (GDLS) in the future. The two companies have agreed on a strategic partnership for this purpose. The aim is to jointly offer the development, production, and service of military logistics vehicles in selected markets. The cooperation so far appears to be going well. Last year, the two companies, together with other partners, received a major order for over 1,500 high-mobility logistics trucks for the Canadian Armed Forces. Now they want to participate jointly in tenders worldwide.
Franziska Cusumano, CEO of Mercedes-Benz Special Trucks, commented: "With General Dynamics Land Systems at our side, we plan to offer comprehensive solutions for armies worldwide, from chassis and base vehicles with customized equipment to long-term service and support. Our successful collaboration on the major Canadian contract has highlighted the potential of this partnership."
GDLS is a division of the US defense contractor General Dynamics and specializes in military wheeled and tracked vehicles. It develops, manufactures, and maintains the M1 Abrams main battle tank, the Stryker infantry fighting vehicle, and various armored support vehicles, among other things. In addition, the Company offers modernization, training, and logistics solutions for armed forces worldwide. General Dynamics generated revenue of around USD 48 billion in 2024. GDLS's revenue is estimated at USD 5 to 6 billion. Daimler Truck generated revenue of approximately EUR 54 billion in 2024.
thyssenkrupp soon without steel?
Like Pasinex, thyssenkrupp's share price has also performed well in recent months. At EUR 11.63, the share price of the former German industrial icon is at its highest level since 2021. Unfortunately, however, this is not due to booming business, but rather because the Company appears to be winding itself down. Last week, there were reports of a non-binding purchase offer from Jindal Steel for thyssenkrupp's steel division. "We believe in the future of green steel production in Germany and Europe," said Narendra Misra, Director of European Operations at Jindal Steel, according to a statement. thyssenkrupp announced that its executive board is reviewing the offer. Jindal Steel & Power Limited (JSPL) is one of India's largest steel producers and is part of the Jindal Group.
Somewhat surprisingly, the offer has already received praise from the IG Metall trade union. "The fact that a growth-oriented steel group such as Jindal Steel International wants to become a strategic investor in thyssenkrupp Steel is fundamentally good news for our employees," said Jürgen Kerner, second chairman of the union and deputy chairman of thyssenkrupp's supervisory board. Following a takeover, Jindal Steel plans to invest in Germany, including more than EUR 2 billion in new electric arc furnace capacity.
If the takeover goes ahead, there will soon be little left of thyssenkrupp. The Company has steadily divested key assets: the Elevator Technology division was sold in 2020, the hydrogen subsidiary nucera was listed on the stock exchange in 2023, and in 2024, 20% of the steel division was sold to Czech billionaire Daniel Kretinsky. At the beginning of 2025, thyssenkrupp Electrical Steel India was sold for EUR 400 million. And preparations are currently underway for the IPO of thyssenkrupp Marine Systems (TKMS).
As can be seen, there is certainly money to be made from thyssenkrupp's wind-down. However, soon there will be nothing left, and the Company will be nothing more than a holding company with no operational business. Pasinex, on the other hand, is active and is taking on exciting zinc projects. Revenue and earnings could rise significantly as early as next year, and the stock appears undervalued. Meanwhile, the partnership with Daimler Truck in the defense sector is in keeping with the times.
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