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FYI Resources gets vote of confidence from WA Premier for its HPA Project

The company aims to use kaolin from its Cadoux Project in Western Australia to produce high-purity alumina (HPA).

FYI Resources Ltd - FYI Resources gets vote of confidence from WA Premier for its HPA Project
FYI is completing a definitive feasibility study (DFS) for Cadoux

FYI Resources Ltd (ASX:FYI) has received the support of Western Australian Premier Mark McGowan.

McGowan requested that the WA Department of Jobs, Tourism, Science and Innovation (JTSI), as the Lead Agency for the delivery of the WA government’s Future Battery Industry Strategy, provide lead agency services for the Cadoux Kaolin High Purity Alumina (HPA) Project.

McGowan said: “The Cadoux Kaolin High Purity Alumina Project presents a great example of Western Australia building on its competitive advantages and moving further up the value chain into downstream processing of diverse battery minerals.”

JTSI is the Western Australia’s lead agency for resources and infrastructure projects where the proposed project investment is either substantial or of strategic importance to the State.

Support bodes well for remaining approvals

FYI’s managing director Roland Hill said: “To be granted this support from State Premier level is very encouraging for our strategy.

“This recognition represents a significant step for FYI in terms of assisting the company secure the remaining pre-development approvals and provide support with discussions and conclude negotiations with various Australian and International stakeholders at all levels.”

Board members buying stock

A number of FYI board members have been purchasing company stock over recent months such as non-executive director David Sargeant who has made multiple recent purchases including 252,871 shares in August 2019.

Sargeant bought the shares for $12,938, increasing his overall holdings in the company to 5.0 million shares.

Quick facts: FYI Resources Ltd

Price: 0.068 AUD

ASX:FYI
Market: ASX
Market Cap: $14.47 m
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FYI Resources commissioning high purity alumina pilot plant

FYI Resources Limited (ASX:FYI) managing director Roland Hill updates Proactive Investors on the commissioning of the high purity alumina (HPA) pilot plant at Kewdale, Western Australia. Hills says the plant is crucial in the development of the Cadoux Kaolin Project and he is happy with...

on 27/6/19

2 min read