Proactive Investors - Run By Investors For Investors

FYI Resources director buys shares on-market, brings total holding to nearly 9.4 million shares

The company is aiming to export high purity alumina for the expanding tech and battery-related markets.
FYI Resources director buys shares on-market, brings total holding to nearly 9.4 million shares
FYI aims to produce high-purity alumina from its kaolin feedstock

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.

View full FYI profile View Profile

FYI Resources Ltd Timeline

Related Articles

vein graphite
March 28 2019
The company is exploring and developing graphite mines in historic jurisdictions in Sri Lanka
1550831985_lithium-100118-2.jpg
February 22 2019
The rate of progress on the Bougouni project has been very encouraging
Gold
March 07 2019
With operations in Honduras back on track and costs coming down, Wishbone's margins are set to rise.

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use