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.
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.
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.
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%.