5E Advanced Materials’ Fort Cady Project: Enhanced Resource Estimate and Strategic Importance Drive Positive Outlook
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Heiko Ihle from H.C. Wainwright reiterated a Buy rating for 5E Advanced Materials, maintaining a $9.25 price target. This is due to a 61% increase in Measured and Indicated Borate Resources at the Fort Cady Project, enhancing its strategic importance. The project is recognized for its potential 217-year mine life and its role in U.S. supply chain independence. Despite unchanged project economics, the valuation reflects a fair assessment of its fully permitted status. Maxim Group also maintained a Buy rating with a $7.00 target.
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