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.
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.