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.
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.