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FYI Resources higher on completing successful second high purity alumina production trial

Further pilot plant operations and test-work is planned shortly in anticipation of additional orders from potential customers.

FYI Resources Ltd - FYI Resources successfully completes second HPA production trial
Trial HPA production samples will be sent to the US for independent analysis to confirm purity

FYI Resources Ltd (ASX:FYI) has been as much as 28% higher after completing stage two production of high purity alumina (HPA) from its pilot plant facility in Welshpool, Western Australia.

This successful stage two trial comes after positive feedback and multiple requests from various potential offtake groups for additional HPA product.

The company’s purpose-built pilot plant operated in line with expectations and design parameters, including recoveries, providing validation of the previous excellent operational performance during stage one operations.

"Another step up"

FYI managing director Roland Hill said “We are incredibly pleased with the outcome of the stage two pilot plant trial production run.

“This is another significant step up in terms of our project development as the successful operation of the pilot plant is strategically important to us.”

Shares have been up to 8.4 cents this morning and are currently trading 15% higher at 7.6 cents.

“Demonstrating production capabilities”

Hill said: “We continue to demonstrate the effectiveness and efficiency of our low cost, innovative process flowsheet using conventional processing technologies and in so doing continue to de-risk the project and crucially, demonstrate our HPA production capabilities to our potential partners and off-take groups.

“We are looking forward to fulfilling the HPA product orders and allowing potential customers to progress their respective qualification process using FYI’s high-quality alumina and to advance our off-take discussions.”

Further pilot plant operations and test-work is planned shortly in anticipation of further orders from potential customers.

Samples sent to US

HPA product generated from the pilot plant will be checked for quality control and assurance including sending representative samples to an independent laboratory in the US for precise analysis.

Once satisfied, FYI will forward trial HPA to designated potential customers with their requested product orders (sizes varying from 5-20 kilograms) to undertake further detailed qualification assessment.

FYI will also carry out supplementary finishing work to a portion of the generated product at the request of several significant potential customers.

The specially finished HPA product will assist in the qualification process for the LED lighting and lithium-ion battery (LiB) markets.

Quick facts: FYI Resources Ltd

Price: 0.155 AUD

ASX:FYI
Market: ASX
Market Cap: $37.72 m
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