Australia's FYI rises on tie-up to make lithium-ion battery coatings

Cadoux

08/09/2021 03:02

** Shares of alumina producer FYI Resources Ltd  FYI.AX 
soar as much as 7.28% to A$0.81, biggest intraday pct gain since
Aug. 30
    ** FYI signs non-binding MoU with graphite producer Ecograf
Ltd  EGR.AX  to develop high-purity alumina (HPA) doped carbon
coatings for lithium-ion batteries  urn:newsml:reuters.com:*:nFWN2Q919O
    ** Says research shows that HPA-enhanced anode coatings
increase life and performance of lithium-ion batteries
    ** Both companies to equally fund the technical program
    ** EGR shares rise as much as 3.37% to A$0.92, before
reversing course to trade 2.25% lower
    ** FYI stock at its highest since Sept. 3
    ** YTD, FYI shares have more than tripled, while EGR gained
more than 5x, as of last close 

 (Reporting by Dhriti Garg in Bengaluru)
 ((Dhriti.Garg@thomsonreuters.com))