An independent US investment consulting firm has estimated a substantial fair value for Algae.Tec shares in a commissioned due diligence report.
While an equity raising may be required to cover a capex increase at the Karara project, DJ Carmichael sees enough value to initiate with a Buy rating on emerging iron ore producer Gindalbie Metals.
Stockbroker Moelis continues to rate Norfolk Group a Buy given solid earnings growth expectations and no debt.
Intersuisse has initiated coverage on junior copper explorer Syndicated Metals with a Speculative Buy rating.