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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.

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