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FYI Resources pockets $250,000 tax rebate towards HPA strategy

The rebate will be directed towards the company’s high purity alumina (HPA) development work.

FYI Resources Ltd - FYI Resources pockets $250,000 tax rebate towards HPA strategy
An initial pilot plant run recently achieved above the target grade of 99.99%

FYI Resources Ltd (ASX:FYI) has received a further R&D tax incentive rebate payment of $250,000.

The rebate is related to expenditure on the development of the innovative process design to refine high purity alumina (HPA) from aluminous clay known as kaolin.

The kaolin for the proposed HPA refinery will be sourced from FYI’s 100% owned Cadoux Kaolin Project in Western Australia.

Recent pilot plant trial run

FYI recently received results from the optimised component of its recently completed HPA pilot plant trial.

The results from the trial run averaged 99.995% Al2O3, which is well above the company’s target grade of 99.99% Al2O3.

Furthermore, the achievement demonstrated operational improvements in the plant that will be applied to the process flowsheet and ultimately the commercial refining facility.

The pilot plant has played a critical role in the validation of the company’s HPA flowsheet.

Quick facts: FYI Resources Ltd

Price: 0.041 AUD

ASX:FYI
Market: ASX
Market Cap: $8.72 m
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FYI Resources Ltd (ASX:FYI) Roland Hill updates Proactive on the results of a definitive feasibility study that outlines a clear path forward to developing an integrated HPA business incorporating Cadoux Kaolin Project and Kwinana High-Purity Alumina (HPA) Project in WA.  Hill said the...

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