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FYI Resources MD builds on holding through on-market purchase

Roland Hill has purchased a further 475,000 shares in the high purity alumina producer.

FYI Resources Ltd - FYI Resources MD builds on holding through on-market purchase
The company has this week started pilot plant production

FYI Resources Ltd (ASX:FYI) managing director Roland Hill continues to build on his holding in the high purity alumina (HPA) developer through on-market share purchases.

On September 26 Hill purchased 475,000 shares valued at more than $21,500 and now holds in excess of 14.9 million shares in a direct and an indirect interest.

This followed the purchase of 725,000 shares valued at $29,288 a couple of days earlier.

Non-executive director purchase

Fellow director David Sargeant also added to his holding in August with the purchase of 252,871 shares to increase his overall holding to 5 million shares.

The company’s shares last traded at 5.6 cents, up from 4.3 cents on September 27.

Pilot plant up and running

This week FYI began production of HPA from its pilot plant following the plant’s construction and commissioning.

The pilot plant plays a key role in de-risking the company’s plan to process kaolin feed from its Cadoux Project in Western Australia to produce HPA.

This plant will run continuously for seven days with the aim of validating the processing flowsheet, which is designed to process kaolin and refine it into high-value HPA product.

The product produced from the pilot plant will be analysed and then sent to potential end-users and customers with the goal of establishing offtake agreements.

Quick facts: FYI Resources Ltd

Price: 0.066 AUD

ASX:FYI
Market: ASX
Market Cap: $14.04 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