Proactiveinvestors Australia FYI Resources Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia FYI Resources Ltd RSS feed en Tue, 16 Jul 2019 20:17:50 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - FYI Resources Ltd obtains mining lease as part of Cadoux HPA project development ]]> https://www.proactiveinvestors.com.au/companies/news/223314/fyi-resources-ltd-obtains-mining-lease-as-part-of-cadoux-hpa-project-development-223314.html FYI Resources Ltd (ASX:FYI) has been granted a mining lease covering its 100%-owned Cadoux high purity alumina (HPA) project by the WA Department of Mines, Industry Regulation and Safety.

The approval is a major formal step in the company’s development of Cadoux and allows FYI to progress site-based activities and future phases of project development.

 

FYI managing director Roland Hill said the granting of the Cadoux mining lease was a crucial milestone for FYI and that the company was delighted to receive approval at an early stage.

He added: “Along with progressing the company’s HPA definitive feasibility study, the project management team has worked hard to achieve this significant regulatory and commercial landmark.

“The approval signifies the accomplishment of a key project approval and demonstrates a further improvement in Cadoux project economics and de-risking of the company’s HPA strategy.”

READ: FYI Resources’ $250,000 R&D tax rebate to fund HPA pilot plant development

The mining lease covers the Cadoux ore reserve which is currently subject to a DFS and may be extended from it’s initial 21-year term to match the project’s 50-plus year mine life.

FYI aims to advance the next stage of development by focusing on the mining proposal in preparation for the planned production activities.

READ: FYI Resources nearing completion of construction of HPA pilot plant

High purity alumina is used in rapidly developing LED, electric vehicle, smartphone and television screen and other associated high-tech product markets.

The company’s HPA strategy is based around the superior quality aluminous clay (or kaolin) deposit at Cadoux, combined with the positive response Cadoux feedstock has to FYI’s moderate temperature atmospheric pressure HCl flowsheet.

Cadoux’s DFS is ongoing and progressing positively along with the pilot plant production studies, which support a planned production of 8,000 tonnes a year of 4N and 5N HPA.

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Wed, 03 Jul 2019 22:13:00 +1000 https://www.proactiveinvestors.com.au/companies/news/223314/fyi-resources-ltd-obtains-mining-lease-as-part-of-cadoux-hpa-project-development-223314.html
<![CDATA[News - FYI Resources’ $250,000 R&D tax rebate to fund Cadoux HPA pilot plant development ]]> https://www.proactiveinvestors.com.au/companies/news/223167/fyi-resources-250000-rd-tax-rebate-to-fund-cadoux-hpa-pilot-plant-development-223167.html FYI Resources Ltd (ASX:FYI) has been advanced a second tranche payment of $250,000 against its expected 2019 research and development tax rebate.

The imbursement comes after the initial $300,000 payment that FYI announced on March 27, 2019 and are a non-dilutive source of project funding.

Funds will go towards the development and operation of a high purity alumina (HPA) pilot plant for FYI’s 100%-owned Cadoux Kaolin Project in Western Australia.

The pilot plant is part of FYI’s aim of becoming a fully integrated, low-risk, low-cost producer of high purity 4N (99.99%) and 5N (99.999%) alumina products.

 

FYI managing director Roland Hill said the R&D funding was important in the context of the development work the company was achieving with its pilot plant test work.

He added: “We are succeeding with our technical aim of producing high quality 4AN and 5N products and with the R&D rebate funds directed towards the pilot plant development, we envisage that the test work will result in us realising our commercial goals as well.”

  READ: FYI Resources nearing completion of construction of HPA pilot plant

Pilot plant construction is nearing completion and FYI has begun preliminary pre-commissioning phases of the key equipment list.

The pilot plant has been designed and engineered to test the HPA production flowsheet developed by FYI to assess the supporting process engineering technology and to optimise and de-risk the flowsheet ahead of full-scale production.

It will produce HPA for product application testing by potential end users that will assist negotiating off-take agreements.

Along with the progressing the pilot plant, FYI is also continuing its locked cycle and broader bankable feasibility studies.

READ: FYI Resources confirms high-grade HPA feedstock characteristics in latest drilling at Cadoux

Hill continued: “We are aiming to be a dominant producer of HPA to address the dramatic growth in demand for high quality alumina.

“[This is] forecasted for the battery and static energy storage industries, driven by the global uptake in electric vehicles.

“The pilot plant results will play a critical role in the process risk mitigation and in demonstrating the viability of our innovative HPA production and refining process as well as providing product samples for potential customers and assisting financing.”

 

High purity alumina is used in rapidly developing LED, electric vehicle, smartphone and television screen and other associated high-tech product markets.

The company’s HPA strategy is based around the superior quality aluminous clay (or kaolin) deposit at Cadoux, combined with the positive response Cadoux feedstock has to FYI’s moderate temperature atmospheric pressure HCl flowsheet.

Cadoux’s bankable feasibility is ongoing and progressing positively along with the pilot plant production studies.

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Mon, 01 Jul 2019 23:43:00 +1000 https://www.proactiveinvestors.com.au/companies/news/223167/fyi-resources-250000-rd-tax-rebate-to-fund-cadoux-hpa-pilot-plant-development-223167.html
<![CDATA[Media files - FYI Resources commissioning high purity alumina pilot plant ]]> https://www.proactiveinvestors.com.au/companies/stocktube/13894/fyi-resources-commissioning-high-purity-alumina-pilot-plant-13894.html Thu, 27 Jun 2019 15:57:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/13894/fyi-resources-commissioning-high-purity-alumina-pilot-plant-13894.html <![CDATA[News - FYI Resources finalises $811,000 capital raising to help fund HPA strategy ]]> https://www.proactiveinvestors.com.au/companies/news/222631/fyi-resources-finalises-811000-capital-raising-to-help-fund-hpa-strategy-222631.html FYI Resources Ltd (ASX:FYI) has received firm commitments to raise around $811,000 through the issue of 16.22 million shares at 5 cents per share with one attaching unlisted option for every two shares issued.

The placement has received strong support from local and international sophisticated and professional investors, including several existing major shareholders.

Funds raised will be used for continued development of FYI’s high-purity alumina (HPA) strategy, including operation of a pilot plant to produce product for customer qualification (test work), ongoing project development at Cadoux and completion of a bankable feasibility study.

READ: FYI Resources in trading halt with a capital raising announcement pending

FYI is undertaking a BFS and pilot plant test work of the Cadoux Kaolin Project feedstock and is achieving substantial technical results from its R&D program which are expected to result in positive project economics.

A pilot plant, which is being commissioned, will provide essential product processing data that will be important in refining the BFS economic case.

READ: FYI Resources director reveals fourth share purchase in three weeks

This plant will provide simulated production generated HPA in enough quantities so that interested parties can trial the alumina for product qualification specific to their individual requirements and applications.

This feedback will allow FYI to tailor the end product through further R&D to suit each customer’s needs.

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Mon, 24 Jun 2019 14:34:00 +1000 https://www.proactiveinvestors.com.au/companies/news/222631/fyi-resources-finalises-811000-capital-raising-to-help-fund-hpa-strategy-222631.html
<![CDATA[News - FYI Resources in trading halt with a capital raising announcement pending ]]> https://www.proactiveinvestors.com.au/companies/news/222462/fyi-resources-in-trading-halt-with-a-capital-raising-announcement-pending-222462.html FYI Resources Limited (ASX:FYI) has been granted a trading halt by the ASX ahead of capital raising news.

The trading halt will be in place until the beginning of trade on Monday, June 24, or when an announcement is made to market, whichever occurs earliest.

FYI shares last traded at 5.8 cents.

READ: FYI Resources nearing completion of construction of HPA pilot plant

The company is completing the implementation stage for testing of feedstock for the production of high purity alumina (HPA) from its Cadoux Kaolin Project in Western Australia.

A pilot plant has been designed and engineered to test the HPA production flowsheet developed by FYI to assess the supporting process engineering technology and to optimise and de-risk the flowsheet ahead of full-scale production.

READ: FYI Resources confirms high-grade HPA feedstock characteristics in latest drilling at Cadoux

FYI managing director Roland Hill said at the time: “The pilot plant is another key element of our disciplined HPA strategy that will ensure the Cadoux Kaolin Project is de-risked towards production.

“We have arranged to deliver sufficient quantities of HPA product to our potential customers, which will greatly assist in negotiating binding off-take agreements and importantly project funding.”

FYI’s flowsheet design is a collaboration between the company’s project metallurgical manager, IMO and process engineering manager, GR Engineering (GRES).

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Thu, 20 Jun 2019 13:37:00 +1000 https://www.proactiveinvestors.com.au/companies/news/222462/fyi-resources-in-trading-halt-with-a-capital-raising-announcement-pending-222462.html
<![CDATA[News - FYI Resources director reveals fourth share purchase in three weeks ]]> https://www.proactiveinvestors.com.au/companies/news/222101/fyi-resources-director-reveals-fourth-share-purchase-in-three-weeks-222101.html FYI Resources Ltd (ASX:FYI) non-executive director David Sargeant has made his fourth purchase of company shares in the past three weeks buying up another 262,685 shares.

Sargeant bought the shares for $15,761, increasing his overall holdings in the company to 4.74 million shares.

The continuous purchasing of company shares by board members shows their confidence in the company’s high-purity alumina (HPA) focussed strategy.

READ: FYI Resources nearing completion of construction of HPA pilot plant

In mid-late May 2019, FYI updated that its pilot plant program was nearing completion of construction, with test-work results expected by the end of June.

The pilot plant will test kaolin feedstock from its 100%-owned Cadoux Kaolin Project in Western Australia with the aim to turn it into HPA.

The pilot plant is located in Welshpool, Western Australia and has been designed and engineered to produce high quality, ultra-pure 99.99% (4N) and 99.999% (5N) alumina (Al2O3) for the fast-growing high specification HPA market.

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Fri, 14 Jun 2019 08:33:00 +1000 https://www.proactiveinvestors.com.au/companies/news/222101/fyi-resources-director-reveals-fourth-share-purchase-in-three-weeks-222101.html
<![CDATA[News - FYI Resources director makes another purchase of company shares ]]> https://www.proactiveinvestors.com.au/companies/news/222006/fyi-resources-director-makes-another-purchase-of-company-shares-222006.html FYI Resources Ltd (ASX:FYI) non-executive director David Sargeant continues to support the company with yet another purchase of shares through on-market trades.

Sargeant bought 484,444 shares for $29,066, increasing his overall holdings in the company to 4.48 million shares.

This is Sargeant’s third purchase in as many weeks and he is not the only board member buying shares with managing director Roland Hill also recently buying shares in the company.

READ: FYI Resources nearing completion of construction of HPA pilot plant

In mid-late May 2019, FYI updated that its pilot plant program was nearing completion of construction, with test-work results expected by the end of June.

The pilot plant will test kaolin feedstock from its 100%-owned Cadoux Kaolin Project in Western Australia with the aim to turn it into HPA.

The pilot plant is located in Welshpool, Western Australia and has been designed and engineered to produce high quality, ultra-pure 99.99% (4N) and 99.999% (5N) alumina (Al2O3) for the fast-growing high specification HPA market.

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Thu, 13 Jun 2019 08:37:00 +1000 https://www.proactiveinvestors.com.au/companies/news/222006/fyi-resources-director-makes-another-purchase-of-company-shares-222006.html
<![CDATA[News - FYI Resources directors show confidence in company through purchase of shares ]]> https://www.proactiveinvestors.com.au/companies/news/221100/fyi-resources-directors-show-confidence-in-company-through-purchase-of-shares-221100.html FYI Resources Ltd’s (ASX:FYI) directors have demonstrated their confidence in the company's high purity alumina (HPA) strategy through the purchase of shares.

The company's managing director Roland Hill has this week purchased a further 50,000 shares through an off-market transaction, increasing his total holding to more than 13.7 million.

READ: FYI Resources director buys shares on-market

Non-executive director David Sargeant has purchased 416,838 shares on-market at a total cost of more than $24,300.

This brings his total amount of securities in the company to 4 million.

The latest transaction follows Sargeant’s purchase earlier this week of 58,162 shares in an on-market transaction.

READ: FYI Resources nearing completion of construction of HPA pilot plant

 

FYI Resources’ pilot plant program is nearing completion of construction with test work expected by the end of June at its Cadoux Kaolin Project in Western Australia.

The pilot plant has been designed and engineered to test the HPA production flowsheet developed by FYI to assess the supporting process engineering technology and to optimise and de-risk the flowsheet ahead of full-scale production.

Managing director Roland Hill said earlier this month: “The pilot plant is another key element of our disciplined HPA strategy that will ensure the Cadoux Kaolin Project is de-risked towards production.

“We have arranged to deliver sufficient quantities of HPA product to our potential customers, which will greatly assist in negotiating binding off-take agreements and importantly project financing.”

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Wed, 29 May 2019 15:42:00 +1000 https://www.proactiveinvestors.com.au/companies/news/221100/fyi-resources-directors-show-confidence-in-company-through-purchase-of-shares-221100.html
<![CDATA[News - FYI Resources director buys shares on-market ]]> https://www.proactiveinvestors.com.au/companies/news/220963/fyi-resources-director-buys-shares-on-market-220963.html FYI Resources Ltd (ASX:FYI) non-executive director David Sargeant has purchased 58,162 shares in the company through on-market trades.

The purchase increases his total holding in the company to 3.58 million shares.

Shares in the company last traded at 5.9 cents.

READ: FYI Resources nearing completion of construction of HPA pilot plant

Last week, the company noted its pilot plant program was nearing completion of construction, with test-work results expected by the end of June.

FYI is currently completing the implementation stage for testing of feedstock for the production of kaolin to high purity alumina (HPA) from its 100%-owned Cadoux Kaolin Project in Western Australia.

Proactive caught up with FYI earlier this month for an update.

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Mon, 27 May 2019 09:25:00 +1000 https://www.proactiveinvestors.com.au/companies/news/220963/fyi-resources-director-buys-shares-on-market-220963.html
<![CDATA[News - FYI Resources nearing completion of construction of HPA pilot plant ]]> https://www.proactiveinvestors.com.au/companies/news/220635/fyi-resources-nearing-completion-of-construction-of-hpa-pilot-plant-220635.html FYI Resources Ltd’s (ASX:FYI) pilot plant program is nearing completion of construction, with test-work results expected by the end of June.

The company is currently completing the implementation stage for testing of feedstock for the 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 to assess the supporting process engineering technology and to optimise and de-risk the flowsheet ahead of full-scale production.

Pilot plant timeline

FYI managing director Roland Hill, said: “The pilot plant is another key element of our disciplined HPA strategy that will ensure the Cadoux Kaolin Project is de-risked towards production.

“We have arranged to deliver sufficient quantities of HPA product to our potential customers, which will greatly assist in negotiating binding off-take agreements and importantly project financing.

“We are looking forward to seeing the results of our pilot plant trials and correlating them against our test work to validate our ultra-high quality HPA process and importantly, to support our PFS and BFS economic case.”

 

FYI’s flowsheet design is a collaboration between the company’s project metallurgical manager, IMO, and process engineering manager, GR Engineering (GRES).

The pilot plant is located at IMO’s metallurgical laboratory in Welshpool, Western Australia, in an area permitted for the purposes of the test work.

FYI’s dedicated pilot plant test work facility arriving at Welshpool

The pilot plant has been designed and engineered to produce high quality, ultra-pure 99.99% (4N) and 99.999% (5N) alumina (Al2O3) for the fast-growing high specification HPA market.

The pilot plant is expected to optimise the HPA flowsheet designed by the company and to de-risk the operational performance of the process.

Summary

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Tue, 21 May 2019 11:16:00 +1000 https://www.proactiveinvestors.com.au/companies/news/220635/fyi-resources-nearing-completion-of-construction-of-hpa-pilot-plant-220635.html
<![CDATA[News - FYI Resources confirms high-grade HPA feedstock characteristics in latest drilling at Cadoux ]]> https://www.proactiveinvestors.com.au/companies/news/220168/fyi-resources-confirms-high-grade-hpa-feedstock-characteristics-in-latest-drilling-at-cadoux-220168.html FYI Resources Ltd (ASX:FYI) has confirmed high-grade high purity alumina (HPA) in a recent combined diamond and reverse circulation (RC) drilling at its Cadoux Kaolin Project in WA.

The drilling program was designed to meet several key technical project objectives and contribute to delivery of a robust bankable feasibility study (BFS) for the company’s integrated HPA strategy.

It consisted of 22 vertical RC drill holes for 614 metres and 4 angled diamond drill holes totalling 75 metres.

 

 

FYI managing director Roland Hill said the program and results from the latest round of drilling were particularly pleasing.

He said: “It confirms our view that the quality of the Cadoux kaolin has excellent feedstock characteristics for HPA processing.

“It also provides us with specific information to finalise our environmental permitting and mining study phases in preparation for mine plan application – well ahead of normal submission timeframes.”

READ: FYI Resources completes metallurgical drilling to advance BFS and upgrade kaolin

 

The 441 samples were tested for standard kaolin suite analysis using total acid digest and inductively coupled plasma mass spectrometry.

As the company’s BFS progresses and the pilot plant project studies begin, the detailed drilling campaign provided FYI with:

Increased understanding of the project’s metallurgical mode in terms of grade and variation of the deposit as a feedstock;

Additional kaolin feedstock for continued metallurgical test work and pilot plant process studies;

Critical ore characterisation for the mining and waste disposal studies;

Hydrological study data for processes water and environmental permitting;

Increased understanding and confidence in the deposit for the upgrade from a measured to a proven reserve for the first phase of mining; and

Grade control data for the first phase of mining and increase the predictability of the future production schedule.

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Tue, 14 May 2019 11:02:00 +1000 https://www.proactiveinvestors.com.au/companies/news/220168/fyi-resources-confirms-high-grade-hpa-feedstock-characteristics-in-latest-drilling-at-cadoux-220168.html
<![CDATA[Media files - FYI Resources continues to engage traditional and new HPA markets, starts pilot plant project ]]> https://www.proactiveinvestors.com.au/companies/stocktube/13269/fyi-resources-continues-to-engage-traditional-and-new-hpa-markets-starts-pilot-plant-project-13269.html Wed, 08 May 2019 19:39:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/13269/fyi-resources-continues-to-engage-traditional-and-new-hpa-markets-starts-pilot-plant-project-13269.html <![CDATA[News - FYI Resources completes metallurgical drilling to advance BFS and upgrade kaolin resource ]]> https://www.proactiveinvestors.com.au/companies/news/218807/fyi-resources-completes-metallurgical-drilling-to-advance-bfs-and-upgrade-kaolin-resource-218807.html FYI Resources Ltd (ASX:FYI) has completed the first phase of metallurgical drilling at Cadoux Kaolin Project in WA aimed at advancing a bankable feasibility study (BFS) and upgrading the measured resource to proven reserve status.

The program, which consisted of close spaced infill drilling of the current resource, was also designed to achieve key technical project objectives and provides further kaolin feedstock for continued metallurgical test work and pilot plant process studies.

READ: FYI to target deposit definition with drilling program at Cadoux Kaolin Project

Diamond drilling at Cadoux HPA Project

FYI managing director Roland Hill said: “The drilling went particularly well and we are very interested in integrating all of the results and applying it to our ongoing test work programs including the pilot plant.

“We will also be incorporating the information into our BFS and broader mine plan and environmental and permitting studies.

“To expedite FYI’s HIgh Purity Alumina (HPA) development timeline efficiently, the drilling will be utilised as the grade control determining the mining plan on the first phase of mining.

"The detailed drilling campaign is consistent with our strategy of delivering a world leading HPA project with the lead into production being de-risked.”

 

 

The reverse circulation (RC) component of the drilling program aimed to:

Support the current metallurgical model in terms of grade and variation of the deposit as a feedstock; Increase confidence in the deposit leading to the conversion of the measured resource to a proven reserve for the first phase of mining; and Provide grade control for the mining and increase the predictability of the future production schedule.

The drilling program consisted of 22 vertical (-90 degree) RC holes totalling 614 metres and generating 447 samples, as well as 4 angled (-70 degree) PQ triple tube diamond drill holes totalling 75 metres.

Samples were prepared at site and sent for a series of tests including standard kaolin suite analysis to determine the element grades and quality as well as to test the in-situ moisture of the kaolin.

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Thu, 18 Apr 2019 11:09:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218807/fyi-resources-completes-metallurgical-drilling-to-advance-bfs-and-upgrade-kaolin-resource-218807.html
<![CDATA[News - FYI Resources to target deposit definition with drilling program at Cadoux Kaolin Project ]]> https://www.proactiveinvestors.com.au/companies/news/218287/fyi-resources-to-target-deposit-definition-with-drilling-program-at-cadoux-kaolin-project-218287.html FYI Resources Ltd (ASX:FYI) will begin a detailed drilling program at its Cadoux Kaolin Project in Western Australia this week to further define the deposit and augment the company’s high purity alumina (HPA) strategy.

The company has a planned program of about 1,200 metres utilising two rigs with a reverse circulation (RC) and diamond drill operating in sequence.

Samples generated and technical data obtained from the drilling is expected to provide important information for the bankable feasibility study expected to be complete in the September 2019 quarter.

 

FYI managing director Roland Hill said: “This drilling program is the next phase in advancing the development of the Caedouz Kaolin HPA Project.

“The technical accomplishments we have achieved in the development of our flowsheet design has provided us with excellent understanding of the intricacies of attaining such a high purity (99.999%) alumina product.

“We really want to now go back to the feedstock (kaolin) to develop a better understanding of the unique characteristics of the deposit and further de-rick the project and ensure quality control of the final product.”

The program is designed to accomplish several technical tasks including:

Increase FYI’s understanding of the mineral variability of the kaolin at Cadoux as well as its impact on potential HPA production;

Complete detailed ground water investigation as part of environmental studies;

Generate kaolin feedstock for FYI’s planned pilot plant;

Define the first phase of feedstock material for specific grade and mineralogy; and

Provide further samples for analysis to be included in the project database.

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Wed, 10 Apr 2019 00:14:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218287/fyi-resources-to-target-deposit-definition-with-drilling-program-at-cadoux-kaolin-project-218287.html
<![CDATA[News - FYI Resources director adds to his holding with on-market share purchases ]]> https://www.proactiveinvestors.com.au/companies/news/218008/fyi-resources-director-adds-to-his-holding-with-on-market-share-purchases-218008.html FYI Resources Ltd (ASX:FYI) non-executive director David Sargeant has this week boosted his holdings in the company through on-market share purchases.

On Monday he acquired 150,000 shares with a further 1 million valued at almost $60,000 purchased on-market on Tuesday and Wednesday.

Sargeant now holds a total of 3.525 million shares in direct and indirect interests.

READ: FYI Resources works toward a September quarter BFS for kaolin project

The company aims to use high-quality aluminous clay, or kaolin, from its Cadoux deposit in WA as feedstock for high-purity alumina (HPA) production using its process.

FYI says the clay is a model feedstock and has ideal metallurgical characteristics.

The kaolin is also an inexpensive low-impurity feedstock with certainty of supply and a grade of 24.4% aluminium oxide.

Cadoux's reserve, prepared by CSA Global and announced in late October 2018, could effectively support a 52-year mine producing 8,000 tonnes a year of HPA.

READ: FYI Resources to commence drilling for BFS this week at kaolin project

Late last month the company was set to begin a 1,200-metre reverse circulation (RC) and diamond drilling program at Cadoux.

This program will serve multiple purposes, most of which progress a bankable feasibility study (BFS) due for completion in September 2019.

Data will be collected to increase the technical and metallurgical understanding of the kaolin feedstock to assist in refining the processing flowsheet.

READ: FYI Resources receives first $300,000 of $1.1 million R&D rebate for HPA work

Drilling will also generate kaolin feedstock for FYI’s planned pilot plant and also define the first phase of feedstock material for specific grade and mineralogy.

Groundwater data will also be collected for environmental studies.

HPA demand increasing

Global HPA demand is expected to increase from about 35,000 tonnes in 2017 to 125,000 tonnes in 2025, driven primarily by strong growth in demand for lithium-ion battery (LIB) separator coating.

Electric vehicle (EV) market growth is expected to contribute to HPA demand, with some researchers tipping year-on-year HPA demand growth of about 17%.

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Fri, 05 Apr 2019 08:44:00 +1100 https://www.proactiveinvestors.com.au/companies/news/218008/fyi-resources-director-adds-to-his-holding-with-on-market-share-purchases-218008.html
<![CDATA[Media files - FYI Resources to utilise pilot plant for HPA development using funding from R&D tax rebate ]]> https://www.proactiveinvestors.com.au/companies/stocktube/12884/fyi-resources-to-utilise-pilot-plant-for-hpa-development-using-funding-from-rd-tax-rebate-12884.html Thu, 04 Apr 2019 23:15:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/12884/fyi-resources-to-utilise-pilot-plant-for-hpa-development-using-funding-from-rd-tax-rebate-12884.html <![CDATA[News - FYI Resources receives first $300,000 of $1.1 million R&D rebate for HPA work ]]> https://www.proactiveinvestors.com.au/companies/news/217278/fyi-resources-receives-first-300000-of-11-million-rd-rebate-for-hpa-work-217278.html FYI Resources Ltd (ASX:FYI) has received $300,000 of an expected $1.1 million 2019 research and development tax rebate which will assist in advancing a high purity alumina (HPA) strategy centred on its Cadoux Kaolin Project in WA.

Funding will be directed towards the development of a pilot plant, which materially progresses the proposed fully integrated, low-risk, low-cost production of high purity 4N and 5N alumina products.

Shares were up 10% in early trade to 6.6 cents.

READ: FYI Resources to commence drilling for BFS this week at kaolin project

FYI Resources managing director Roland Hill said: “The funding allows us to achieve a crucial step in the support of our long-term HPA strategy.

“The development of the pilot plant and HPA product will greatly assist product market development with end users and technical reviews.

“The pilot plant will also provide excellent operating parameters for the production process.”

Bankable feasibility test work and an economic review continue to advance as planned, having demonstrated the efficiency of the flowsheet in achieving 5N purity.

READ: FYI Resources works toward a September quarter BFS for kaolin project

This accomplishment underlines the importance of rigorous and continuous pilot plant test work in the development of the HPA flowsheet design given the extremely high level of purity being targeted.

The pilot plant project will significantly de-risk complex technical challenges ahead of commercial production and is consistent with the company’s strategy of delivering a low-risk, high margin project.

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Wed, 27 Mar 2019 12:01:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217278/fyi-resources-receives-first-300000-of-11-million-rd-rebate-for-hpa-work-217278.html
<![CDATA[News - FYI Resources to commence drilling for BFS this week at kaolin project ]]> https://www.proactiveinvestors.com.au/companies/news/216798/fyi-resources-to-commence-drilling-for-bfs-this-week-at-kaolin-project-216798.html FYI Resources Ltd (ASX:FYI) is set to commence a drilling program this week at its Cadoux Kaolin Project in Western Australia.

The 1,200 metres of reverse circulation (RC) and diamond drilling will serve multiple purposes, most of which progress the bankable feasibility study (BFS) which is due for completion in September 2019.

The primary aim of the drilling is to collect more data to increase the technical and metallurgical understanding of the kaolin feedstock to assist in refining the processing flowsheet.

READ: FYI Resources works toward a September quarter BFS for kaolin project

FYI’s managing director Roland Hill said: “This drilling program is the next phase in advancing the development of the Cadoux Kaolin HPA Project.

“The technical accomplishments we have achieved in the development of our flowsheet design has provided us with an excellent understanding of the intricacies of attaining such a high purity (99.999%) alumina product.

“We really want to now go back to the feedstock (kaolin) to develop a better understanding of the unique characteristics of the deposit to further derisk the project and ensure quality control of the final product.

“This drilling program will provide further information to support our technical work and also add broader project value by providing secondary hydrological information and enabling environmental data collection.”

Drilling to accomplish several technical tasks

Drilling will generate kaolin feedstock for FYI’s planned pilot plant and also define the first phase of feedstock material for specific grade and mineralogy.

Ground water data will also be collected for environmental studies.

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Wed, 20 Mar 2019 12:19:00 +1100 https://www.proactiveinvestors.com.au/companies/news/216798/fyi-resources-to-commence-drilling-for-bfs-this-week-at-kaolin-project-216798.html
<![CDATA[News - FYI Resources works toward a September quarter BFS for kaolin project ]]> https://www.proactiveinvestors.com.au/companies/news/216342/fyi-resources-works-toward-a-september-quarter-bfs-for-kaolin-project-216342.html FYI Resources Ltd (ASX:FYI) specialises in kaolin exploration and high-purity alumina (HPA) project development in Western Australia.

The company is run by Roland Hill, a mining analyst and equity fund portfolio manager with 18 years mining and exploration industry experience.

Hill has been FYI’s chief executive officer for eight years and was previously managing director and chairman of producer Crescent Gold Limited over a 7-year period.

A science and commerce graduate, Hill was a senior analyst at stockbroking firms and investment banks and managed a portfolio of investments for Deutsche Bank’s Australian and international resources equity fund.

What does FYI own?

The key asset is the Cadoux Kaolin Project which lies northeast of the city of Perth and southeast of Geraldton port in WA.

FYI’s vision is to use the high-quality aluminous clay, or kaolin, from the Cadoux deposit as feedstock for high-purity alumina (HPA) production using its process.

The company has argued the clay is a model feedstock and has ideal metallurgical characteristics.

FYI’s kaolin is also an inexpensive low-impurity feedstock with certainty of supply and a grade9 of 24.4% aluminium oxide.

Cadoux's reserve, prepared by CSA Global and announced in late October 2018, could effectively support a 52-year mine producing 8,000 tonnes a year of HPA.

Global HPA demand is expected to increase from about 35,000 tonnes in 2017 to 125,000 tonnes in 2025, driven primarily by strong growth in demand for lithium-ion battery (LIB) separator coating.

Electric vehicle (EV) market growth is expected to contribute to HPA demand, with some researchers tipping year-on-year HPA demand growth of about 17%.

Yesterday the company revealed it had achieved a grade recovery of 99.999% purity alumina (5N), an achievement independently analysed and verified by Ultra Trace Pty Ltd in Perth.

The company’s flowsheet previously exceeded an HPA target grade of 99.997% purity (4N) during independent metallurgical testing.

4N HPA is a high‐value product with broad traditional applications that is increasingly a critical component for the electric vehicle, battery and power storage markets.

5N is a subset of the HPA sector and is generally tailor-made to the special requirements of each customer and has smaller market applications.

Applications include the LEDs that are used in traffic lights, outdoor displays and high-performance back-lit units.

The quality attracts a significant premium over 4N as the applications tend to be complex.

FYI’s flowsheet design is based on a standard hydrochloric acid leach and precipitation technology developed in the 1940s.

This design has been modified to suit Cadoux feedstock and current HPA market purity requirements.

The locked cycle and concentrate test work is expected to provide a basis for possible process improvements to be made to FYI’s process ahead of funded pilot plant studies.

FYI hopes to then refine and implement its process during pilot studies and increase confidence in project capital and operating costs, to further build a business case for its project in its BFS.

FYI’s September 2018 pre-feasibility study (PFS) valued Cadoux project at US$560 million ($793.5 million) using a net present value (NPV10) calculated at a 10% discount.

The corresponding internal rate of return (IRR) was 46% while project payback was a short 3.6 years.

Capital costs were US$179 million, or US$22,344 a tonne, while forecasted average operating costs were US$6,467 a tonne, comparing favourably to the US$24,000 a tonne forecasted revenue the company views as realistic.

FYI is preparing a BFS for the project, expected in the September 2019 financial quarter.

The BFS was formally started in November 2018 and is being led by GR Engineering. It will include a process refined with the latest metallurgical test work.

FYI expects to wrap up subsequent pilot study work in late June quarter 2019.

The Cadoux BFS is, therefore, now expected in late September quarter 2019.

The company had $1.9 million cash on December 31, 2018, and expects $849,000 of cash outflows in March quarter 2019.

A $1.1 million advance of 80% of the company’s 2018-19 Australian Government Research & Development (R&D) tax credit will fund the upcoming pilot plant studies in June quarter 2019.

Inflection points

Funded pilot plant studies expected to be completed in the June quarter

A BFS tipped for the September quarter

Financing successes and a final investment decision

Offtake agreements, production take commitments and production plant milestones

Managing director & CEO Roland Hill highlights "world-class potential"

“While focusing on the 4N as the predominant HPA market segment, FYI sought to produce 5N HPA to demonstrate the flowsheet effectiveness, as well as to develop an additional product line that could supply a market that displays forecasted long-term growth at a significant premium to the 4N market,” managing director & CEO Roland Hill said.

“Demonstrating the strong premium to the 4N market, Allied Market Research estimates 4N HPA product to sell in a range from US$30,000-$35,000/tonne in 2018-19 versus over US$50,000 a tonne for 5N.

“We believe the ability to generate such an ultra-high-purity product continues to demonstrate the Cadoux Kaolin Project’s world-class potential and we look forward to progressing discussions with possible end-use customers.”

 

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Thu, 14 Mar 2019 08:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/216342/fyi-resources-works-toward-a-september-quarter-bfs-for-kaolin-project-216342.html
<![CDATA[News - FYI Resources achieves outstanding grade recovery of 99.999% purity alumina ]]> https://www.proactiveinvestors.com.au/companies/news/216334/fyi-resources-achieves-outstanding-grade-recovery-of-99999-purity-alumina-216334.html FYI Resources Ltd (ASX:FYI) has produced 99.999% purity alumina (Al2O3) during continued product development and benchmark variability test work for its Cadoux Kaolin Project in Western Australia.

The purity of 99.999% alumina was independently analysed and verified by Ultra Trace Pty Ltd in Perth.

FYI Resources has achieved the outstanding product grade as part of its bankable feasibility study (BFS) test work and locked cycle testing for the Cadoux Kaolin Project.

READ: FYI Resources starts metallurgical test work to refine high purity alumina pilot program

The test work is designed to provide data and information from the process flowsheet results of the laboratory-based test work as a replication of the full scale (production sized) process design.

FYI managing director Roland Hill said: “Achieving 99.999% or 5N HPA is an extremely encouraging result.

“Not only is it an incredible outcome to attain this level of purity, it also has a potentially profound impact on the overall project economics.

High purity alumina at final stage of precipitation at laboratory

“Whilst focusing on the 4N as the predominant HPA market segment, FYI sought to produce 5N HPA to demonstrate the flowsheet effectiveness, as well as to develop an additional product line that could supply a market that displays forecasted long-term growth at a significant premium to the 4N market.

“Demonstrating the strong premium to the 4N market, Allied Market Research estimates 4N HPA product to sell in a range from US$30,000 - $35,000/t in 2018/19 versus over US$50,000/t for 5N.

“We believe the ability to generate such a ultra-high purity product continues to demonstrate the Cadoux Kaolin Project is world-class potential and we look forward to progressing discussions with possible end use customers.”

5N HPA market poised for growth

4N HPA is a high‐value product that has many broad traditional applications and is increasingly becoming a critical component in the electric vehicle, battery and power storage markets.

5N is a subset of the HPA sector with smaller market applications that are generally tailor-made to the special requirements of each customer.

However, 5N attracts a significant premium in pricing over 4N due to its use in very complex applications.

Global market share by HPA purity

The greater portion of use for 5N being in the medical, aerospace and defence, and automotive sensors sectors.

5N HPA finds application in LEDs that are used in traffic lights, outdoor displays, and high-performance backlight units.

The growing demand for these products is one of the key driving factors for the 5N market.

Global 5N HPA forecast demand (tonnes)

Leading players in this market are focusing on developing environmentally friendly 5N HPA using less energy.

Such product innovations and technological advancements may provide an opportunity for FYI Resources in the world HPA market.

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Wed, 13 Mar 2019 12:22:00 +1100 https://www.proactiveinvestors.com.au/companies/news/216334/fyi-resources-achieves-outstanding-grade-recovery-of-99999-purity-alumina-216334.html
<![CDATA[News - FYI Resources starts metallurgical test work to refine high purity alumina pilot program ]]> https://www.proactiveinvestors.com.au/companies/news/215866/fyi-resources-starts-metallurgical-test-work-to-refine-high-purity-alumina-pilot-program-215866.html FYI Resources Ltd (ASX:FYI) has begun locked cycle and concentrate test work to further support and refine the company’s strategy to produce high-purity alumina (HPA).

The locked cycle tests target high-grade alumina production with increased recoveries and operating efficiencies which may reduce process plant capital and operating costs.

Results from the test work will provide the basis for possible process improvements in the upcoming pilot plant test program as part of FYI’s bankable feasibility study (BFS).

READ: FYI Resources to build Cadoux HPA pilot plant for product application testing and project financing

FYI managing director Roland Hill said: “The locked cycle test work is an integral component to the development and refinement of the HPA process design flowsheet.

“We consider this phase to be very important in the lead-up to the pilot plant and then ultimately into the BFS in demonstrating the effectiveness of our HPA flowsheet and then of course the economic impact to the overall project economics.

“We look forward to the results of the locked cycle test work and to the continued improvement of the HPA flowsheet that the testing should provide.”

A schematic of FYI’s key milestones timeline ahead of completing its bankable feasibility study

 

READ: FYI Resources investigates HPA markets in East Asia, advances offtake negotiations

A locked cycle test is a repetitive batch test conducted at laboratory level to assist in implementing improvements to the HPA process flowsheet design.

The test work has five main functions:

Assess the suitability of the flowsheet design;

Produce and then calculate a metallurgical projection for the HPA produced;

Gauge process recovery rates and efficiencies;

Provide valuable metallurgical data and information; and

Determine if the process reagent suite is stable and suitable for commercial production.

READ: FYI Resources welcomes start to GR Engineering-led DFS due mid-2019

As it simulates a continuous flotation circuit, the basic locked cycle test performs a complete batch test in the first cycle, followed by similar batch tests that contain ‘intermediate’ material from the previous cycle.

These batch tests or cycles are continued in this iterative manner.

The final concentrate and final tailings from each cycle is filtered and thus removed from further processing.

At the end of the test, all the final and intermediate products are dried, weighed and subjected to chemical analysis.

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Tue, 05 Mar 2019 19:42:00 +1100 https://www.proactiveinvestors.com.au/companies/news/215866/fyi-resources-starts-metallurgical-test-work-to-refine-high-purity-alumina-pilot-program-215866.html
<![CDATA[News - FYI Resources to build Cadoux HPA pilot plant for product application testing and project financing ]]> https://www.proactiveinvestors.com.au/companies/news/214596/fyi-resources-to-build-cadoux-hpa-pilot-plant-for-product-application-testing-and-project-financing-214596.html FYI Resources Ltd (ASX:FYI) is to develop a pilot plant as part of a bankable feasibility study to de-risk its Cadoux Kaolin Project in Western Australia.

The pilot plant will increase confidence and certainty for the company’s flowsheet design and circuit operational performance before committing to full-scale commercial production.

READ: FYI Resources investigates HPA markets in East Asia, advances offtake negotiations

FYI managing director Roland Hill said the decision to proceed with the pilot plant was a critical step in Cadoux’s development.

The plant will allow FYI to deliver suitable quantities of high purity alumina (HPA) to potential end-users for both product application testing for off-take negotiations and to support project financing.

Costs for the pilot plant will be funded through an advance of a research and development (R&D) tax rebate and it is expected to be constructed late in the June quarter 2019.

A schematic of FYI’s key milestones timeline ahead of completing its bankable feasibility study

  READ: FYI Resources welcomes start to GR Engineering-led DFS due mid-2019

Hill continued: “The results of the pilot plant will contribute greatly to the robustness and confidence in the project and its ability for the overall project capital to be financed.

“The fact that we also have arranged the pilot plant to be financed by an advance on our expected R&D rebate benefits shareholders as there is no shareholder dilution or impact to our capital structure while funding a crucial segment of the project.”

READ: FYI Resources’ maiden ore reserve supports 52-year mine life for high purity alumina project

FYI’s flowsheet design is based on a standard hydrochloric acid leach and precipitation technology originally development in the 1940s.

This design has been modified to suit the Cadoux feedstock and purity requirements of current HPA markets.

The company anticipates the results from the pilot plant will provide increased confidence in the capital and operating costs of the project.

Results will also help confirm and support theoretical economic cases in the PFS and BFS and provide a quantified level of process assurance for future development and financing activities.

READ: FYI Resources’ PFS confirms long-life, low-cost high purity alumina project

The Cadoux project’s advantages include:

Western Australian-based and fully integrated strategy in a proactive and supportive project development jurisdiction;

Reliably and cheaply-sourced inputs (i.e. power, water, hydrochloric acid etc.);

High quality mineral resource and reserves, with excellent chemistry and mineralogy;

Long-life mine plan with more than 50 years of reserve;

Straightforward and highly-efficient flowsheet;

Low forecast industry capital expenditure;

Forecast lowest quartile operating costs;

First-class project development team; and

Strategy based on success of having achieved 99.997% HPA.

Cadoux's mine plan

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Wed, 13 Feb 2019 20:03:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214596/fyi-resources-to-build-cadoux-hpa-pilot-plant-for-product-application-testing-and-project-financing-214596.html
<![CDATA[News - FYI Resources director buys shares on-market, brings total holding to nearly 9.4 million shares ]]> https://www.proactiveinvestors.com.au/companies/news/211819/fyi-resources-director-buys-shares-on-market-brings-total-holding-to-nearly-94-million-shares-211819.html FYI Resources Ltd (ASX:FYI) non-executive director David Sargeant has indirectly acquired 205,791 ordinary shares worth more than $13,000.

The purchase brings Sargeant’s total shareholding to 9.375 million ordinary shares, worth $562,500 at today’s share price of 6 cents, as well as 500,000 unlisted options.

 

 

FYI’s strategy is to mine and beneficiate kaolin on-site at its Cadoux project in WA and transport the beneficiated aluminous clay to Kwinana for refining, before being exported to expanding tech and battery-related markets.

The company has recently progressed the commercialisation of its high-purity alumina (HPA) product through a follow-up marketing trip to HPA consumers in Asia.

READ: FYI Resources’ maiden ore reserve supports 52-year mine life for high purity alumina project

Meetings with industry participants in China, Japan and South Korea and FYI confirmed that its Cadoux HPA aligns with a market supported by a premium price and strong demand for new supply sources.

Along with investigating Asian regional HPA markets, the trip aimed to broaden awareness of FYI’s Cadoux project’s potential high-grade product and strategic 52-year mine life.

FYI also used the visit to explore commercial opportunities with selected parties including offtake and strategic financing for Cadoux.

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Tue, 01 Jan 2019 22:36:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211819/fyi-resources-director-buys-shares-on-market-brings-total-holding-to-nearly-94-million-shares-211819.html
<![CDATA[News - FYI Resources director supports high purity alumina strategy with on-market purchases ]]> https://www.proactiveinvestors.com.au/companies/news/211703/fyi-resources-director-supports-high-purity-alumina-strategy-with-on-market-purchases-211703.html FYI Resources Ltd (ASX:FYI) director David Sargent has shown his faith in the company’s high purity alumina (HPA) strategy by acquiring more than 964,000 shares in on-market trades this month.

The non-executive director’s purchases for an indirect interest, Kirkdale Holdings Pty Ltd, have a total value of almost $52,000.

He now holds more than 1.319 million shares in that indirect interest, while another indirect interest holds 850,000 ordinary shares and a third holds 7 million.

READ: FYI Resources managing director Roland Hill acquires more shares

These purchases follow those of managing director Roland Hill, who recently bought more than 176,000 shares on-market for total consideration of $10,000.

This brought his total direct and indirect holding in FYI to more than 11.631 million shares.

READ: FYI Resources welcomes start to GR Engineering-led DFS due mid-2019

FYI’s strategy is to mine and beneficiate kaolin on-site at its Cadoux project in WA and transport the beneficiated aluminous clay to Kwinana for refining, before being exported to expanding tech and battery-related markets.

READ: FYI Resources investigates HPA markets in East Asia, advances offtake negotiations

The company has recently progressed the commercialisation of its product through a follow-up marketing trip to HPA consumers in Asia.

Meetings with industry participants in China, Japan and South Korea and FYI confirmed that its Cadoux HPA aligns with a market supported by a premium price and strong demand for new supply sources.

Along with investigating Asian regional HPA markets, the trip aimed to broaden awareness of FYI’s Cadoux project’s potential high-grade product and strategic 52-year mine life.

FYI also used the visit to explore commercial opportunities with selected parties including offtake and strategic financing for Cadoux.

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Mon, 24 Dec 2018 15:28:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211703/fyi-resources-director-supports-high-purity-alumina-strategy-with-on-market-purchases-211703.html
<![CDATA[News - FYI Resources managing director Roland Hill acquires more shares ]]> https://www.proactiveinvestors.com.au/companies/news/211285/fyi-resources-managing-director-roland-hill-acquires-more-shares-211285.html FYI Resources Ltd (ASX:FYI) managing director Roland Hill has demonstrated confidence in the company’s high purity alumina (HPA) strategy by an on-market purchase of 176,607 shares for $10,000.

This brings his total holding (direct and indirect) in FYI to 11,631,632 shares.

READ: FYI Resources investigates HPA markets in East Asia, advances offtake negotiations

The company recently progressed the commercialisation of its HPA product through a follow-up marketing trip to HPA consumers in Asia.

Meetings were held with industry participants in China, Japan and South Korea and FYI confirmed its Cadoux HPA aligns with a market supported by a premium price and strong demand for new supply sources.

FYI’s strategy is to mine and beneficiate kaolin on-site at its Cadoux project in Western Australia and transport the beneficiated aluminous clay to Kwinana for refining, before being exported to expanding tech and battery-related markets.

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Mon, 17 Dec 2018 15:55:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211285/fyi-resources-managing-director-roland-hill-acquires-more-shares-211285.html
<![CDATA[News - FYI Resources investigates HPA markets in East Asia, advances offtake negotiations ]]> https://www.proactiveinvestors.com.au/companies/news/209881/fyi-resources-investigates-hpa-markets-in-east-asia-advances-offtake-negotiations-209881.html FYI Resources Ltd (ASX:FYI) has progressed commercialisation of its high purity alumina (HPA) product through a follow-up marketing trip to HPA consumers in Asia.

Meetings were held with industry participants in China, Japan and South Korea and FYI confirmed its Cadoux HPA aligns with a market supported by a premium price and strong demand for new supply sources.

 

Along with investigating Asian regional HPA markets, the trip aimed to broaden awareness of FYI’s Cadoux project’s potential high-grade product and strategic 52-year mine life.

FYI also used the visit to explore commercial opportunities with selected partied including offtake and strategic financing for Cadoux.

READ: FYI Resources welcomes start to GR Engineering-led DFS due mid-2019

FYI managing director Roland Hill said the trip helped FYI establish new contacts and provided great insights into East Asian HPA markets.

He said: “The industry feedback gained from multiple sources is encouraging and supports both our internal views on pricing and demand for HPA as well as the forecasts of independent market researchers, such as CRU Group, that we referenced in our pre-feasibility study (PFS).

“All formal meetings proceeded very well, with particular focus on the quality represented in FYI’s high grade (99.99%) and excellent individual product characteristics of its HPA.

“The meetings also helped FYI to better understand the HPA industry and market.

“FYI will continue to develop its relationships and market channels within East Asia in line with its long term and strategic HPA production objectives.”

FYI Cadoux HPA pre-feasibility summary economic metrics

  READ: FYI Resources’ maiden ore reserve supports 52-year mine life for high purity alumina project

Through its market investigation FYI determined the mid to long-term forecast demand for HPA was strong.

Demand trends not only support traditional HPA-derived products but also the developing electric vehicle and speciality ceramics markets.  

FYI has completed internal assessment of the parties it met and the preferred group of buyers and HPA end-users are undertaking discussions towards establishing formal offtake relationships.

The discussions may also include strategic financing alternatives for the Cadoux HPA Project and negotiations for a binding agreement will run in parallel with Cadoux’s bankable feasibility study now underway.

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Mon, 26 Nov 2018 00:52:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209881/fyi-resources-investigates-hpa-markets-in-east-asia-advances-offtake-negotiations-209881.html
<![CDATA[News - FYI Resources welcomes start to GR Engineering-led DFS due mid-2019 ]]> https://www.proactiveinvestors.com.au/companies/news/209334/fyi-resources-welcomes-start-to-gr-engineering-led-dfs-due-mid-2019-209334.html FYI Resources Ltd (ASX:FYI) (FRA:SDL) contractor GR Engineering Services Limited (ASX:GNG) has started work on a fully-funded definitive feasibility study (DFS) for the Cadoux Kaolin Project in Western Australia.

The study for FYI’s wholly-owned project will build on FYI’s GR-produced September 2018 pre-feasibility study which modelled an 8,000-tonne-a-year production scenario for a high-value, ultra-high grade (>99.99%) alumina product suitable for export.

FYI Resources’ maiden ore reserve supports 52-year mine life for high-purity alumina project

FYI's mine plan

The inland project, northeast of Perth and southeast of Geraldton, had a net present value (NPV) US$506m (10% discount rate).

Cadoux project’s internal rate of return (IRR) of 46% and earnings before interest, tax, interest, depreciation and amortisation (EBITDA) of US$128 million a year, based on development capital expenditure (capex) of US$180 million.

The capex and key financials pus the estimated project payback at 3.6 years.

Cadoux project’s reserves are 2.9 million tonnes grading 24.4% aluminium oxide.

READ: FYI Resources’ PFS confirms long-life, low-cost high-purity alumina project

FYI managing director Roland Hill said: “The Cadoux Kaolin Project PFS demonstrated outstanding project metrics and absolutely warrants the highest standard of engineering.

“We believe as a result of the team that we have assembled we are well placed to commence construction in line with our project development schedule next year.

“GR Engineering delivered a fantastic result with our PFS and based on the success of that outcome we are more than pleased to have the continuity with them through the completion of the bankable feasibility study.”

The DFS is expected to be completed by mid-2019, with construction currently planned for the December 2019 financial quarter.

READ: FYI Resources completes optimised metallurgical flowsheet

A schematic of FYI’s key milestones timeline ahead of completing its bankable feasibility study

WA-based FYI will undertake a number of key activities over that period, including: preparing project risk mitigation studies, continued work on permitting approvals; Kwinana refinery location site-selection activities; continued project financing and strategic funding discussions; and advanced customers and offtake party discussions.

FYI’s DFS contractor, Australian engineering services company GR Engineering, has completed more than 160 feasibility studies, with its expertise in HCl precipitation and leaching being a particular drawcard for FYI.

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Thu, 15 Nov 2018 20:57:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209334/fyi-resources-welcomes-start-to-gr-engineering-led-dfs-due-mid-2019-209334.html
<![CDATA[News - FYI Resources’ maiden ore reserve supports 52-year mine life for high purity alumina project ]]> https://www.proactiveinvestors.com.au/companies/news/207982/fyi-resources-maiden-ore-reserve-supports-52-year-mine-life-for-high-purity-alumina-project-207982.html FYI Resources Ltd (ASX:FYI) recently revealed a maiden ore reserve estimate of 2.89 million tonnes grading 24.4% Al2O3 (aluminium oxide) for its Cadoux kaolin project in Western Australia.

The maiden ore reserve follows an upgraded resource calculated by CSA Global for the recently published Cadoux pre-feasibility study (PFS).

READ: FYI Resources’ PFS confirms long-life, low cost high-purity alumina project

The PFS indicated that the project could produce up to 8,000 tonnes per annum of high purity alumina (HPA) at low capital and operating costs.

The company’s ore reserve has upgraded the mine life to 52 years, delivering a net present value of US$560 million and a payback period of 3.6 years.

FYI managing director Roland Hill said: “Cadoux’s maiden ore reserve, estimated by Orelogy Consulting, has a probable ore reserve estimated at 2.89 million tonnes grading 24.4% Al2O3 and is a significant step forward in the development of our HPA strategy and provides an excellent quality benchmark for our future operations.

“The ore reserve estimate affords FYI confidence in the quality and characteristics of the in-ground kaolin at Cadoux and how that translates into a superior and consistent quality feedstock for the HPA processing and refining.”

 

Hill added “The Cadoux kaolin ore reserve estimate should be capable of supporting HPA production for more than 50 years and potential additional project revenue opportunities have been identified from by-products derived from processing the kaolin.

“We are very pleased with the source and also in the upgraded confidence in the estimation due to its importance to our overall HPA strategy.”

Global HPA demand

The global demand for HPA is expected to increase from around 35,000 tonnes in 2017 to 125,000 tonnes in 2025, driven primarily by the strong growth in demand for lithium-ion battery separator coating.

Total HPA demand by end-use sector (tonnes)

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Mon, 29 Oct 2018 13:58:00 +1100 https://www.proactiveinvestors.com.au/companies/news/207982/fyi-resources-maiden-ore-reserve-supports-52-year-mine-life-for-high-purity-alumina-project-207982.html
<![CDATA[News - FYI Resources has update for recent ore reserve estimate, granted trading halt ]]> https://www.proactiveinvestors.com.au/companies/news/207808/fyi-resources-has-update-for-recent-ore-reserve-estimate-granted-trading-halt-207808.html FYI Resources Ltd (ASX:FYI) has been granted a trading halt by the ASX pending the release of an updated announcement regarding the probable ore reserve announced on 24 October 2018.

READ: FYI Resources’ maiden ore reserve supports 50+ year life for high purity alumina project

Shares in the company will remain halted until the earlier of either the release of the announcement or the commencement of trading on Monday 29 October 2018.

FYI had revealed a maiden ore reserve estimate of 2.89 million tonnes grading 24.4% Al2O3 (aluminium oxide) for its Cadoux kaolin project in Western Australia.

Whilst the ore reserve estimate supports a mine life of more than 50 years, financial modelling for the project was completed on the basis of a 25-year life with various operational and financial sensitivities analysed to confirm that the project generates positive economical returns and has a reasonable likelihood of success.

READ: FYI Resources’ PFS confirms long-life, low cost high-purity alumina project

FYI’s pre-feasibility indicated that the project could produce up to 8,000 tonnes per annum of high purity alumina (HPA) with both low capital and operating costs, delivering a net present value of US$506 million.

Global demand for HPA is expected to increase from around 35,000 tonnes in 2017 to 125,000 tonnes in 2025, driven primarily by the strong growth in demand for lithium-ion battery (LIB) separator coating.

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Thu, 25 Oct 2018 16:28:00 +1100 https://www.proactiveinvestors.com.au/companies/news/207808/fyi-resources-has-update-for-recent-ore-reserve-estimate-granted-trading-halt-207808.html
<![CDATA[News - FYI Resources’ PFS confirms long-life, low cost high-purity alumina project ]]> https://www.proactiveinvestors.com.au/companies/news/205599/fyi-resources-pfs-confirms-long-life-low-cost-high-purity-alumina-project-205599.html FYI Resources Ltd (ASX:FYI) has successfully completed the preliminary feasibility study (PFS) for its 100%-owned Cadoux Kaolin Project in Western Australia.

The PFS has confirmed FYI’s objective to become a predominant vertically-integrated, long life producer of high-purity alumina (HPA).

FYI’s PFS indicates that the project could produce up to 8,000 tonnes per annum of HPA with both low capital and operating costs, delivering a net present value (NPV) of US$506 million for a 25-year project life.

The PFS economic forecasts are based on a revised Cadoux resource estimate that was specifically estimated for the delivery of premium quality feedstock to the integrated HPA refining process.

The mining and financial modelling is based on using 94% Indicated and 6% Inferred material.

PFS summary

FYI managing director Roland Hill said: “The PFS demonstrates FYI Resources is in the attractive position with the potential of becoming a long-life, low cost and high margin HPA producer.

“The positive economics are a result of realistic basket pricing and a production profile that is expected to meet the forecasted industry demand growth over the coming years as a result of the electric vehicles revolution.

READ: FYI Resources developing high purity alumina for growing battery metals sector

“Importantly, we believe we should sit within the lowest operating cost quartile generating significant margins, demonstrated in the average annual EBITDA at steady state of US$128 million.”

Global HPA demand

The global HPA demand is expected to increase from around 35,000 tonnes in 2017 to 125,000 tonnes in 2025, driven primarily by the strong growth in demand for lithium-ion battery (LIB) separator coating.

 

One of the drivers of the LIB separator growth is the growth of electric vehicles (EV), particularly as a result of China’s new pro-EV policies.

Total HPA demand by end-use sector (tonnes)

With regards to the future funding of the Cadoux Kaolin Project, FYI is in discussions with industry participants with the potential to provide financing as part of an offtake, in addition to traditional means of debt and equity financing.

The company plans to initiate a bankable feasibility study (BFS) whilst progressing negotiations with industry participants for potential offtake deals.

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Tue, 25 Sep 2018 14:59:00 +1000 https://www.proactiveinvestors.com.au/companies/news/205599/fyi-resources-pfs-confirms-long-life-low-cost-high-purity-alumina-project-205599.html
<![CDATA[News - FYI Resources completes optimised metallurgical flowsheet ]]> https://www.proactiveinvestors.com.au/companies/news/205076/fyi-resources-completes-optimised-metallurgical-flowsheet-205076.html FYI Resources Ltd (ASX:FYI) has completed an optimised processing flowsheet to create high purity alumina (HPA) from its Cadoux Kaolin Project feedstock.

Work is part of the pre-feasibility study (PFS) work underway.

The optimised process flowsheet will form the basis of process design, equipment selection and equipment sizing, and should reduce both capital and operating costs for the project.

The flowsheet has relatively straightforward processing design parameters using a number of regular processing items and equipment.

READ: FYI Resources exceeds required 4N grades for Cadoux high purity alumina product

FYI’s managing director Roland Hill said: “Attaining the excellent base grade of 99.997% HPA is a remarkable achievement and a testament to the efficiency and effectiveness of the Cadoux process flowsheet.

“The company’s focus is on building a quality HPA strategy as well as delivering a superior investment return to shareholders – so operating margins and capital costs are important to our business case.

“We expect our extensive defining test work program and resulting flow sheet optimisation to bear fruit for us by having a material impact on the project economics.”

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Tue, 18 Sep 2018 13:18:00 +1000 https://www.proactiveinvestors.com.au/companies/news/205076/fyi-resources-completes-optimised-metallurgical-flowsheet-205076.html
<![CDATA[Media files - FYI Resources seeks to leverage growing HPA market with 4N-standard products ]]> https://www.proactiveinvestors.com.au/companies/stocktube/10431/fyi-resources-seeks-to-leverage-growing-hpa-market-with-4n-standard-products-10431.html Tue, 11 Sep 2018 14:05:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/10431/fyi-resources-seeks-to-leverage-growing-hpa-market-with-4n-standard-products-10431.html <![CDATA[Media files - FYI Resources delivers low-impact environmental report for Cadoux project ]]> https://www.proactiveinvestors.com.au/companies/stocktube/10342/fyi-resources-delivers-low-impact-environmental-report-for-cadoux-project-10342.html Wed, 05 Sep 2018 04:48:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/10342/fyi-resources-delivers-low-impact-environmental-report-for-cadoux-project-10342.html <![CDATA[News - FYI Resources exceeds required 4N grades for Cadoux high purity alumina product ]]> https://www.proactiveinvestors.com.au/companies/news/204017/fyi-resources-exceeds-required-4n-grades-for-cadoux-high-purity-alumina-product-204017.html FYI Resources Ltd (ASX:FYI) has affirmed the required grades for high purity alumina processed from its Cadoux Kaolin Project feedstock.

Independent metallurgical testing confirmed that the company’s flowsheet can deliver an intermediate product ranging from 99.996% to 99.997% aluminium oxide.

The results have exceeded FYI’s target grade of 99.99%, the required grade for 4N standard alumina products, and leave room for potential expansion to higher-grade 5N products.

Verification was undertaken by Metallurgy Pty Ltd from test work completed by Independent Metallurgical Operations Pty Ltd.

READ: FYI Resources delivers low-impact report card for Cadoux Kaolin Project

FYI managing director Roland Hill said the verification of greater than 99.99% HPA was very gratifying from a project development perspective.

Hill said: “These excellent results clearly and independently demonstrate that we are on the right path to proving a proprietary HPA flowsheet that supports realisation of a world-class commercial strategic commodity refinery.

“Furthermore, it gives us confidence that additional updates to the HPA purity is possible.”

FYI produced HPA, which now exceeds 99.99% purity

  READ: FYI Resources optimises high purity alumina strategy with early mining study at Cadoux

FYI’s goal for the certified test work was to independently confirm the quality of the final alumina product that it intends to produce commercially under its HPA strategy.

The certification reduces product uncertainty and helps to ensure quality control and assurance in providing a consistent and reliable product to the market.

READ: FYI Resources developing high purity alumina for growing battery metals sector

FYI announced last month it had expedited its mining trade-off study to integrate it with other ongoing study components.

The study has so far identified several key advantages including: a mining schedule of around 240,000 tonnes of ore per year; multiple operating pits for selective mining; and infrastructure and scheduling to support a long mine life.

The mining study will be progressed alongside other components of the prefeasibility study, ensuring the overall integration of the economic review is detailed, robust and consistent for Cadoux’s operations.

FYI’s HPA strategy is to mine and beneficiate kaolin on-site and transport the beneficiated aluminous clay to Kwinana for refining, before being exported to expanding tech and battery-related markets.

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Sun, 02 Sep 2018 22:49:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204017/fyi-resources-exceeds-required-4n-grades-for-cadoux-high-purity-alumina-product-204017.html
<![CDATA[News - FYI Resources delivers low-impact report card for Cadoux Kaolin Project ]]> https://www.proactiveinvestors.com.au/companies/news/203613/fyi-resources-delivers-low-impact-report-card-for-cadoux-kaolin-project-203613.html FYI Resources Ltd’s (ASX:FYI) environmental and base line studies demonstrate positive outcomes and a low environmental impact for the Cadoux Kaolin Project in Western Australia.

The studies were conducted by Botanica Consulting Pty Ltd and are a precursor to the project permitting phases, with the findings suggesting a straightforward permitting process.

 

FYI managing director Roland Hill said the various environmental procedures and approvals were a critical pathway to the development of any project.

“Encountering obstacles and time delays can severely hamper or even in some cases stop the development of projects.

“We are extremely fortunate with the Cadoux Kaolin Project – not only with the high-quality kaolin and its excellent HPA refining characteristics, but also with the associated project attributes that result in a very positive environmental assessment and low impact report card.

“This will assist us immensely with our development certainty and time line.”

  READ: FYI Resources optimises high purity alumina strategy with early mining study at Cadoux

The studies showed that there are no significant rain drainage structures in the project area, and no groundwater was encountered in drilling indicating the water table is below the proposed pit level.

Surface soil and the kaolin resource were assessed to be non-acid forming materials, eliminating the risk of acid generation.

Flora and fauna did not factor extensively in the studies, with no priority flora identified in the area and no formal fauna surveys required.

Cadoux is not subject to any native title claims and does not contain any heritage-listed sites.

BIG PICTURE: FYI Resources developing high purity alumina for growing battery metals sector

Cadoux’s topography is characterised by gently undulating landscapes of low relief, extensively cleared for agriculture and grazed by stock for many decades.

FYI’s mining trade-off study identified that the project is likely to have a low annual total mining rate, up to 240,000 tonnes total, supported by a small operational footprint, minimising the disturbance area.

Nearby infrastructure such as power, water, phone lines and proximity to major sealed roads and rail are considered by FYI as significant for permitting and capital expenditure.

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Sun, 26 Aug 2018 23:33:00 +1000 https://www.proactiveinvestors.com.au/companies/news/203613/fyi-resources-delivers-low-impact-report-card-for-cadoux-kaolin-project-203613.html
<![CDATA[News - FYI Resources optimises high purity alumina strategy with early mining study at Cadoux ]]> https://www.proactiveinvestors.com.au/companies/news/203355/fyi-resources-optimises-high-purity-alumina-strategy-with-early-mining-study-at-cadoux-203355.html FYI Resources Ltd (ASX:FYI) has brought forward the mining trade-off study for its Cadoux high purity alumina (HPA) project in WA, reviewing a range of product specifications and optimising site-based operations.

A mining study is usually a component of a project’s bankable feasibility study but was expedited by FYI to integrate with other ongoing study components.

The initial results from the trade-off study follows FYI’s ongoing test work demonstrating metallurgical recoveries of greater than 99.99% HPA.

 

FYI managing director Roland Hill said the company’s confidence in its HPA strategy continued to increase as the level of detailed work was advanced.

Hill said: “We believe it was beneficial to bring forward aspects of the mining study along with some of the other critical and longer duration review components, such as the environmental and hydrological studies.

“[This is] to the benefit of a bankable feasibility study in the next phase of economic studies.

“The mining study has highlighted a number of positive operating options as well as some distinct project advantages and revenue streams that we continue to focus on for our project strategy development.”

READ: FYI Resources developing high purity alumina for growing battery metals sector

Orelogy has determined, based on recent test work indications, that FYI’s optimal operating philosophy is to:

Excavate ore and overburden from and backfill pits on a campaign bases using contract mining to minimise operating costs;

Establish a dedicated permanent fleet to manage stockpiles and product rehandling;

Develop cost effective mine scheduling and operations for the unusually low volume mining;

Minimise capital expenditure leveraging off the site’s natural advantages; and

Investigate additional potential by-product revenue streams.

Cadoux’s operational parameters suggest the emphasis of the mining trade-off study be developed with a distinctive mining and beneficiation model.

This would be focused on operational flexibility and control of feedstock quality as well as maximising project cashflows.

Preliminary mine site infrastructure layout for the Cadoux Kaolin Project

  READ: FYI Resources strengthens high purity alumina outlook following China visit

The study has so far identified several key advantages including: a mining schedule of around 240,000 tonnes of ore per year; multiple operating pits for selective mining; and infrastructure and scheduling to support a long mine life.

The mining study will be progressed alongside other components of the prefeasibility study, ensuring the overall integration of the economic review is detailed, robust and consistent for Cadoux’s operations.

FYI aims to deliver a commercial high-quality HPA product with low production costs into rapidly expanding tech and battery-related markets.

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Wed, 22 Aug 2018 00:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/203355/fyi-resources-optimises-high-purity-alumina-strategy-with-early-mining-study-at-cadoux-203355.html
<![CDATA[News - FYI Resources developing high purity alumina for growing battery metals sector ]]> https://www.proactiveinvestors.com.au/companies/news/203265/fyi-resources-developing-high-purity-alumina-for-growing-battery-metals-sector-203265.html FYI Resources Ltd (ASX:FYI) is developing a non-traditional high-purity alumina processing flowsheet using kaolin feedstock mined at its Cadoux project in Western Australia.

As part of its Cadoux pre-feasibility study, the Perth-based company has been refining its resource through drilling as well as advancing process design and test work.

FYI aims to deliver a commercial high-quality HPA product with low production costs into rapidly expanding tech and battery-related markets.

 

A reverse circulation (RC) drilling program of 75 holes for 1,613 metres was completed at Cadoux in May, providing FYI with further insight into its resource and relevant metallurgical applications.

It generated 640 2-metre composite samples which underwent analysis at the Intertek laboratories in Perth.

Along with a revised geological model, the drilling provided further kaolin feedstock for test work and process studies as part of the project’s pre-feasibility study.

These studies included in-situ moisture of the kaolin to determine specific gravity of the deposit; environmental base line studies; soil characterisation for rehabilitation and infrastructure site works; and down-hole geophysics for moisture and resource geometry.

READ: FYI Resources’ results confirm high purity alumina potential for Cadoux kaolin

FYI managing director Roland Hill said the drilling program had gone extremely well.

He said: “The site results looked visually excellent and the program also allowed us to complete other necessary program tasks including project quality assurance testing, environmental and base line studies as well as soil characterisation tests for project permitting purposes.

“The balance of the analysis for the RC drilling is consistent with the previous campaign results.

“This continues to support our opinion on the very favourable characteristics of the Cadoux deposit as a source of feedstock for the innovative HPA flowsheet we are developing.

“Understanding the geology and mineralogy of the project is fundamental to the success of the HPA refining and we are very pleased with the quality of the results for our development strategy.”

Ongoing mining study

With several study phases complete and increased project certainty, FYI appointed Orelogy Consulting Pty Ltd to undertake several key mining reviews of the proposed Cadoux operations.

Orelogy will review the early-stage mining site based on operational aspects of the project and provide an overview of its mining requirements.

These aspects include site layout options, on-site processing, water management and material movement reviews based on continuous versus campaign mining.

Speaking about appointment of study manager, Hill said, “As our HPA strategy builds in confidence and momentum, we are comfortable in progressing with broader development aspects of the project.

“Integral to the overall strategy and the project economics is the mining and other site-based operations at Cadoux.”

Hill said Orelogy had a good reputation in the industry and he was delighted to have them take responsibility for the mining aspect of FYI’s development strategy.

READ: FYI Resources confirms Kaolin resource suitable for high-purity alumina feedstock

Metallurgical studies are ongoing and are managed by Independent Metallurgical Operations Pty Ltd.

Additional variability samples have been trialled to determine the impact on recovery and grade of a matrix of outcomes to determine optimal operating ranges.

Metallurgical matrix studies completed so far include:

High and low-grade samples

Impurities present in the ore (e.g. sodium, magnesium, iron, potassium

Leach optimisation of Cadoux kaolin

Testing the spatial variability of the resource

Variability leach test work

Improved understanding and control of the leaching process

Kaolin product testing to assess the potential of producing additional products

Completion of precipitation series test work

FYI produced HPA, which is 99.99% purity

  READ: FYI Resources strengthens high-purity alumina outlook following China visit

In July the company conducted a marketing trip to China to assess the Chinese HPA market in relation to Cadoux’s pre-feasibility and product development.

Hill said the Chinese domestic market for HPA appeared very supportive of new supply projects.

“Attaining a good understanding of the dynamics of the China market is important to our strategy going forward,” he said.

“Our resulting view is very positive on the fundamental long-term outlook for HPA as we look forward to completing our pre-feasibility study in the September quarter.

“We will continue with our market evaluations of the other key markets of Taiwan, Japan and Korea during 2018.”

The company met with participants in the HPA sector during the China trip to gain insight into product specifications, characteristics and supply, and the demand and pricing metrics for the high-value 4N and 5N alumina products.

FYI has also engaged with a speciality metals advisory group with deep relationships into the markets of China, Taiwan, Korea and other Asian producers and consumers of HPA.

HPA market expected to grow

The HPA market is expected to see growth through an expansion of existing and new applications, according to commodity analysis group CRU.

CRU provided FYI with market intelligence on the increasing relevance of HPA, noting that traditional markets such as high-performance LED substrates and sapphire glass related product will continue growing.

Growth will also be impacted by a global uptake in electric vehicles and other emerging battery and power storage applications, which require high specification HPA in the separator component between the anode and cathode of the power cells.

By FYI’s evaluation 99.99% purity HPA will fetch between US$20-30 per kilogram, with upwards pressure from increasing demand and an evolving market.

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Mon, 20 Aug 2018 22:29:00 +1000 https://www.proactiveinvestors.com.au/companies/news/203265/fyi-resources-developing-high-purity-alumina-for-growing-battery-metals-sector-203265.html
<![CDATA[News - FYI Resources strengthens high purity alumina outlook following China visit ]]> https://www.proactiveinvestors.com.au/companies/news/202428/fyi-resources-strengthens-high-purity-alumina-outlook-following-china-visit-202428.html FYI Resources Ltd (ASX:FYI) has strengthened its positive outlook for the high purity alumina (HPA) market following a marketing trip to China last month.

The company will use key information gained from an assessment of the Chinese HPA market in the pre-feasibility study for its Cadoux Kaolin Project in Western Australia and for product development.

READ: FYI Resources confirms kaolin resource suitable for high-purity alumina feedstock

FYI is positioning itself to be a significant producer and supplier of HPA as it continues to develop the project.

Drilling and analysis has confirmed that the kaolin resource has the characteristics to be used as feedstock in producing HPA grading 99.99% or greater, using an evolving process flowsheet.

Managing director Roland Hill said the Chinese domestic market for HPA appeared very supportive of new supply projects.

 

He said: “Attaining a good understanding of the dynamics of the China market is important to our strategy going forward.

“Our resulting view is very positive on the fundamental long-term outlook for HPA as we look forward to completing our pre-feasibility study in the September quarter.

“We will continue with our market evaluations of the other key markets of Taiwan, Japan and Korea during 2018.”

The company met with participants in the HPA sector during the China trip to gain insight into product specifications, characteristics and supply, and the demand and pricing metrics for the high-value 4N and 5N alumina products.

FYI produced HPA, which is 99.99% purity

  Chinese HPA cost advantages eroding

A significant observation made by FYI is that traditional cost advantages for Chinese HPA production from bauxite processes are being eroded.

Advantages such as low labour rates and cheap raw materials and energy are being diminished by increasing inflation, power restrictions and China’s ever-increasing environmental regulations.

FYI has also engaged with a speciality metals advisory group with deep relationships into the markets of China, Taiwan, Korea and other Asian producers and consumers of HPA.

READ: FYI Resources' results confirm high-purity alumina potential for Cadoux kaolin

The HPA market is expected to see growth through an expansion of existing and new applications, according to commodity analysis group CRU.

CRU provided FYI with market intelligence on the increasing relevance of HPA, noting that traditional markets such as high-performance LED substrates and sapphire glass related product will continue growing.

Growth will also be impacted by a global uptake in electric vehicles and other emerging battery and power storage applications, which require high specification HPA in the separator component between the anode and cathode of the power cells.

By FYI’s evaluation 99.99% purity HPA will fetch between US$20-30 per kilogram, with upwards pressure from increasing demand and an evolving market.

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Tue, 07 Aug 2018 22:23:00 +1000 https://www.proactiveinvestors.com.au/companies/news/202428/fyi-resources-strengthens-high-purity-alumina-outlook-following-china-visit-202428.html
<![CDATA[News - FYI Resources results confirm high-purity alumina potential for Cadoux kaolin ]]> https://www.proactiveinvestors.com.au/companies/news/200355/fyi-resources-results-confirm-high-purity-alumina-potential-for-cadoux-kaolin-200355.html FYI Resources Ltd (ASX:FYI) has served up final results from a drilling campaign at its Cadoux Kaolin Project in Western Australia, with the analysis confirming the resource is suitable for producing high-purity alumina (HPA).

The company said the delayed analysis supported its view the kaolin resource had the characteristics to be used as feedstock in producing HPA of 99.99% or greater, using its evolving process flowsheet.

Pre-feasibility study progresses

FYI drilled 1,613 metres during its 75-hole reverse circulation drilling campaign.

The company said work on the production flowsheet continued to progress well and technical achievements had exceeded the pre-feasibility study managers’ expectations.

READ: FYI Resources confirms kaolin resource suitable for high-purity alumina feedstock

FYI managing director Roland Hill said he was pleased with the quality of the latest results which would feed into the company’s development strategy.

“The balance of the analysis for the RC drilling is consistent with previous campaign results,” he said.

“This continues to support our opinion on the very favourable characteristics of the Cadoux deposit as a source of feedstock for the innovative HPA flowsheet we are developing.”

Hill said an understanding of the project’s geology and mineralogy would prove fundamental to the success of the company’s efforts to produce HPA.

FYI ambitions

FYI aims to become a significant producer of 4N-grade HPA as consumers adopt LED technologies, purchase electric vehicles, and buy up new smartphones and television screens.

The company hopes the quality of the aluminous clays at Cadoux deposit will mean its project will be world-class.

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Mon, 09 Jul 2018 03:46:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200355/fyi-resources-results-confirm-high-purity-alumina-potential-for-cadoux-kaolin-200355.html
<![CDATA[News - FYI Resources confirms kaolin resource suitable for high-purity alumina feedstock ]]> https://www.proactiveinvestors.com.au/companies/news/199280/fyi-resources-confirms-kaolin-resource-suitable-for-high-purity-alumina-feedstock-199280.html FYI Resources Ltd (ASX:FYI) has received results from a reverse circulation (RC) drilling program at its 100% owned Cadoux kaolin project in Western Australia.

Importantly, analysis of the results has confirmed that the kaolin is an ideal feedstock for refining into high-purity alumina (HPA), a valuable new-age material.

The resource’s high-grade nature and it being low in deleterious minerals highlight its potential value.

75 drill holes averaging 21.5 metres depth

The RC drill program comprised of 75 holes totalling 1,613 metres for an average hole depth of 21.5 metres.

Drilling was designed to collect data for metallurgical studies and to better understand and interpret the geological model.

FYI’s managing director Roland Hill said: “Having attended the drilling program at site and seeing first hand the visual indications, the results of the second phase RC drilling are very pleasing.

“The drilling program demonstrates FYI is progressing with a very robust development strategy and we will continue to deliver the best possible project outcome.”

Updating the resource model

Data from this drilling will also be incorporated into a revised resource model which is underway.

The current JORC resource totals 16.1 million tonnes grading 11.76% aluminium.

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Fri, 22 Jun 2018 11:12:00 +1000 https://www.proactiveinvestors.com.au/companies/news/199280/fyi-resources-confirms-kaolin-resource-suitable-for-high-purity-alumina-feedstock-199280.html
<![CDATA[Media files - FYI Resources leveraged to HPA market that is growing based on new applications ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9602/fyi-resources-leveraged-to-hpa-market-that-is-growing-based-on-new-applications-9602.html Mon, 18 Jun 2018 14:59:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9602/fyi-resources-leveraged-to-hpa-market-that-is-growing-based-on-new-applications-9602.html <![CDATA[News - FYI Resources targets cash injection for high purity alumina ]]> https://www.proactiveinvestors.com.au/companies/news/186766/fyi-resources-targets-cash-injection-for-high-purity-alumina-186766.html FYI Resources Ltd (ASX:FYI) continues towards its goal of becoming a high purity alumina (HPA) producer of aluminum oxide (Al2O3) powder with a purity equal to or greater than 99.99%.

HPA’s properties include low-friction and high wear resistance, hardness, thermal and electrical insulating ability, non-corrosive and broad chemical compatibility.

Demand for HPA is experiencing as it is used in today’s high-performance electronic devices.

To advance the next steps, FYI Resources is heading to market with a capital raising, and the ASX has granted a trading halt to prepare.

The halt will remain in place until the opening of trade on Wednesday 8th November 2017, or earlier if an announcement is made to the market.

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Mon, 06 Nov 2017 12:57:00 +1100 https://www.proactiveinvestors.com.au/companies/news/186766/fyi-resources-targets-cash-injection-for-high-purity-alumina-186766.html
<![CDATA[News - FYI Resources Ltd reveals high-grade potash at Sino-Lao Project ]]> https://www.proactiveinvestors.com.au/companies/news/168974/fyi-resources-ltd-reveals-high-grade-potash-at-sino-lao-project-168974.html The company also intersected 2 metres of high-grade sylvinite mineralisation at 26.8% potassium at the top of the potash interval.

Sylvinite is a mixture of the minerals sylvite and halite, mined as a source of potash.

FYI is negotiating a joint venture with Yuntianhua Group, China to take the Sino-Lao project to commercial production.

The project is currently majority-owned by Yuntianhua, who has invested circa US$180 million into the project to date.

The largest part of this investment is in asset infrastructure, including underground mine development and surface processing facilities.

The Sino-Lao project is a trial potash production facility with a reported annual capacity of 50,000 tonnes per year of the end product.

The facility is fully developed, including surface processing facilities and underground mining development of both access and production headings.

FYI, in collaboration with Yuntianhua, is planning on up-scaling the trial production to full scale commercial production of between 500,000–1,000,000 tonnes per year.

The latest drilling results are encouraging, in particular the presence of sylvinite, which validates the quality of historical data.

Future exploration will focus on targeting and delineating additional sylvinite and high-grade carnallitite mineralisation in the project area.

FYI’s share price has increased by 84% since February 2016, last trading at $0.046.

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Tue, 15 Nov 2016 10:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/168974/fyi-resources-ltd-reveals-high-grade-potash-at-sino-lao-project-168974.html
<![CDATA[News - Freedom Eye acquires Yarlarweelor uranium project ]]> https://www.proactiveinvestors.com.au/companies/news/136296/freedom-eye-acquires-yarlarweelor-uranium-project-2733.html Freedom Eye (ASX: FYI) will acquire the Yarlarweelor uranium project about 125 km north of Meekatharra in Western Australia from Empire Resources (ASX: ERL).

Freedom Eye, hailing as it does from a biotech and pharmaceutical enterprise past, plans to change its name and become a uranium play.

In an all-scrip deal, Empire will emerge with a direct 30% shareholding in Perth-based Freedom.

The planned transaction is subject to shareholder and regulatory approvals and due diligence, with Freedom shareholders set to vote on the acquisition of the Yarlarweelor exploration licence and the proposed changes in name and direction at a general meeting some time in November.

David Sargeant managing director of Empire and Adrian Jessup a director of Empire will join Freedom’s current chairman Russell Barnett on the Freedom board, which will be pruned to three directors after settlement of the Yarlarweelor sale.

If all goes ahead, Freedom – currently a biotech and pharmaceutical enterprise – will move to raise a minimum of $1 million to fund Yarlarweelor exploration and other exploration acquisition or joint venture opportunities via the proposed consolidation of its issued capital.

Empire conducted an airborne radiometric and magnetic survey over most of the 490 sq km Yarlarweelor project area last year, resulting in the outlining of numerous uranium anomalies. Previous exploration had been undertaken in the Yarlarweelor area prior to 1982.

Sargeant said the sale of Yarlarweelor would unlock value for Empire’s shareholders from the company’s non-core uranium interests, leaving it to focus on advancing its core copper and gold projects in WA.

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Thu, 01 Oct 2009 13:48:00 +1000 https://www.proactiveinvestors.com.au/companies/news/136296/freedom-eye-acquires-yarlarweelor-uranium-project-2733.html