Latest with 2 Penny Stocks - CDX, FYI

  • May 21, 2019 AEST
  • Team Kalkine
Latest with 2 Penny Stocks - CDX, FYI

CardieX Limited

CardieX Limited (ASX: CDX), is based in West Ryde, Australia and engaged in designing, manufacturing, and marketing of medical devices for use in cardiovascular health management practices across the Europe, the Americas, as well as the Asia Pacific region. With a market capitalisation of around AUD 26.43 million with ~ 695.5 million outstanding shares, the CDX stock ended the day’s trading at a price of AUD 0.037, dipping down 2.63% by AUD 0.001 with ~ 3.73 million shares traded.

On the 21 May 2019, the healthcare industry player, announced that it had made significant progress with its China growth strategy, by establishing a business operations and marketing presence in Beijing and Shanghai to support the company’s local business initiatives.

This follows a recent yet another milestone disclosed on 23rd April 2019, whereby CardieX received approval by the Chinese Food and Drug Administration (CFDA) of the Oscar 2 with ‘SphygmoCor® Inside’ Ambulatory Blood Pressure Monitor (ABPM), a product collaboration between CardieX wholly owned group company AtCor Medical (AtCor) and leading US blood pressure device manufacturer SunTech Medical Inc.

Approval by the CFDA will allow the Oscar 2 ABPM with SphygmoCor® to be utilised by over 20,000 physicians, hospitals and clinics throughout China where ABPM is the most effective method of detection, diagnosis, monitoring and management of hypertension.

Source: CardieX China and Product Strategy Update (ASX announcement dated March 12, 2019)

The total addressable revenue and market opportunity for sales of Oscar 2 is around ~ USD 50 million per year in China.

FYI Resources Limited

FYI Resources Limited (ASX: FYI), based in Cottesloe, Western Australia, is a company from the metals and mining industry. It primarily explores for and develops mineral properties, such as high-purity alumina (HPA), mainly in Australia and south-east Asia. With a market capitalisation of AUD 11.2 million and approximately 196.48 million outstanding shares, the FYI stock closed the trading session at the last price of AUD 0.060, climbing up 5.26%, reflecting a change of AUD 0.003 on prior day’s close, with ~ 59.32k shares traded through the day on 21st May 2019.

On 21 May day, the mineral exploration company, informed the market that its pilot plant program is nearing completion of the implementation stage for testing of feedstock for production of kaolin to high purity alumina (HPA) from its 100%-owned Cadoux Kaolin Project in Western Australia.

The pilot plant has been designed and engineered to test the HPA production flowsheet developed by FYI and produce high quality, ultra-pure 99.99% (4N) and 99.999% (5N) alumina (Al2O3) for the fast-growing (~ 17% CAGR) high specification HPA market. The timeline and summary for the pilot plant is as follows:

Pilot plant timeline (Source: ASX announcement dated 21st May 2019)

Prior to this, on 15th May 2019, FYI Resources had announced that it had received the results from the recently completed RC and diamond drilling program at the Cadoux Kaolin Project (EL/4673) to meet several key technical project objectives and contribute to delivery of a robust bankable feasibility study (BFS) for FYI’s integrated HPA strategy.


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