Alpha HPA's technologies have received recognition (bronze medal rating) from independent sustainability ratings agency EcoVadis. The rating is a key pre-condition to finalising offtake contracsts for the HPA First project, explains Bell Potter.

The company's high purity aluminium and high purity alumina (HPA) products have value-adding application across lithium ion battery, micro-LED and semiconductor manufacturing.

The broker anticipates imminent announcements relating to product offtake agreements in support of debt financing and a final investment decision for the full scale HPA First project.

The target rises to $1.31 from $1.02 for a variety of reasons including a lower discount rate (in line with peers) and updates to government grants and the capital structure.

Sector: Materials.

Target price is $1.31.Current Price is $0.97. Difference: $0.35 - (brackets indicate current price is over target). If A4N meets the Bell Potter target it will return approximately 26% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2023 Acquisdata Pty Ltd., source FN Arena