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Independent Research

FYI Resources Limited (ASX:FYI)

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FYI Resources Limited (“FYI” or “the Company”) has made major progress on, and significantly derisked the Western Australian High Purity Alumina “HPA” Project since our late 2020 Initiation Note.

The most significant event was the mid-year signing with Alcoa of a Binding Term Sheet (“the agreement”) looking to the development of the HPA Project; this follows on from a previous MoU under which Alcoa undertook extensive due diligence (including marketing studies) and collaborated on a successful pilot plant run.

Before entering into the partnership with FYI, Alcoa had carried out due diligence on other companies and process routes, thus the decision to go with FYI is a vindication of the Company and process. The FYI flowsheet uses an HCl leach to treat high purity kaolinite feedstock to produce HPA, with an updated DFS completed in early 2021 highlighting the potential for a production cost of ~50% of that of current producers.
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FYI Resources Limited

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Independent Investment Research
Independent Investment Research

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