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Equities Research Reports

Detailed below is a sample of our recent research reports. To obtain a full copy of these or any other Foster Stockbroking research reports please contact the Equities Dealing team on +61 2 9221 8700.

Financial Product Advice Warning

The information as provided herein is general securities advice only and in preparing all of these reports the company has not taken into account the specific investment objectives, financial situation or particular needs of any specific recipient. The reports provided on this website page is only current at the date of publication, any recommendation provided on a particular stock to buy, hold, or sell should be taken into account with this in mind. For further information regarding any publication on a particular company listed, you should first consult with one of our suitably trained advisors.


Iron Ore Holdings Ltd (IOH.ASX)

MOU with FMG delivers a path to early cash flow (20-Feb-2012)

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Bisalloy Steel Group Ltd (BIS.ASX)

1HFY12 Result on track for 40-50% EBITDA growth (22-Feb-2012)

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Photon Group Ltd (PGA.ASX)

New CEO and clean structure in place (20-Feb-2012)

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Voyager Resources Ltd (VOR.ASX)

Initiation – Emerging Copper Explorer in ‘Minegolia (14-Feb-2012)

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Guildford Coal Ltd (GUF.ASX)

On track for first production mid 2012 in Mongolia (07-Feb-2012)

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Quickflix Ltd (QFX.ASX)

Strategic placement to Time Warner Inc. brings financial and corporate firepower. (06-Feb-2012)

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Glory Resources Ltd (GLY.ASX)

Initiation – High grade gold in Greece (01-Feb-2012)

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African Iron Ltd (AKI.ASX)

Event:Off-market, friendly cash takeover bid by Exxaro. (11-Jan-2012)

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Cape Lambert Resources Ltd (CFE.ASX)

Over $100m from asset realisations at Sapes and AKI (11-Feb-2012)

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Bisalloy Steel Group Ltd (BIS.ASX)

EVENT:BIS held its 2011 AGM providing guidance for FY12 and an update on the Jinan JV in China. (17-Jan-2012)

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Westgold Resources Ltd (WGR.ASX)

Initiation – Bringing back Big Bell (07-Dec-2011)

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Photon Group Ltd (PGA.ASX)

Transformation complete, debt free & profitable. (15-Dec-2011)

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Cape Lambert Resources Ltd (CFE.ASX)

Initiation of coverage- African Asset Incubator (28-Oct-2011)

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Metals X Ltd (MLX.ASX)

Initiation – Australian High grade Tin producer, with Nickel, Gold and Base Metals exposure (28-Oct-2011)

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Elemental Minerals Ltd (ELM.ASX)

Sintoukola site visit reaffirms world class potash project. (27-Oct-2011)

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Iron Ore Holdings Ltd (IOH.ASX)

Satellite deal No.2 delivers another win for shareholders (18-Oct-2011)

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Rex Minerals Ltd (RXM.ASX)

Site visit and Hillside acceleration (13-Oct-2011)

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Aguia Resources Ltd (AGR.ASX)

Initiation- Potash to feed Brazil's hungry demand. (11-Oct-2011)

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Mount Gibson Ltd (MGX.ASX)

Initiation - Raking in cash and looking for growth (10-Oct-2011)

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Bullish on Thermal Coal – Top Aussie Picks

The past three weeks has been an exciting time in the coal M&A space resulting in three key acquisitions worth just shy of $2bn in value. (04-Oct-2011)

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Tiger Resources Ltd (TGS.ASX/TSX)

Events: Production update for Kipoi Stage 1 (HMS).Scoping Study released for Kipoi Stage 2 (SX-EW). Minmetals Resources’ C$1.3b takeover bid for Anvil Mining (AVM.TSX/ASX). (03-Oct-2011)

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M&A Thematic Report - Resources

Global equity markets continue to experience extreme volatility on concerns of a potential double dip recession in the US, default by Greece (and resulting impact on the Eurozone) and a potential hard landing in China. (21-Sep-2011)

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Guildford Coal Ltd (GUF.ASX) – Initiation of coverage

Event: We initiate coverage on GUF with a BUY recommendation and a price target of A$1.90/share. (16-Sep-2011)

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