This is an extract from the Fosters Stockbroking morning brief e-mail.
HPA developerFYI Resources (FYI)has successfully concluded the second week of its joint extended HPA trial with Alcoa. Management noted progress was ‘performing to plan’ while week two samples have been shipped to New York for analysis and confirmation of HPA grades. The third pilot plant trial will begin shortly, and if indications so far are anything to go by, then we expect updates to follow a similar pattern. Our analyst has a Buy rating and $1.19 price target.
FYI Price at posting:
31.3¢ Sentiment: Buy Disclosure: Held
