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FYI Resources Ltd

FYI Resources directors show confidence in company through purchase of shares

The company is focused on the exploration and development of high purity alumina and potash.

HPA from Cadoux project
FYI Resources’ pilot plant is expected to produce ultra-pure 99.99% (4N) and 99.999% (5N) alumina

FYI Resources Ltd’s (ASX:FYI) directors have demonstrated their confidence in the company's high purity alumina (HPA) strategy through the purchase of shares.

The company's managing director Roland Hill has this week purchased a further 50,000 shares through an off-market transaction, increasing his total holding to more than 13.7 million.

READ: FYI Resources director buys shares on-market

Non-executive director David Sargeant has purchased 416,838 shares on-market at a total cost of more than $24,300.

This brings his total amount of securities in the company to 4 million.

The latest transaction follows Sargeant’s purchase earlier this week of 58,162 shares in an on-market transaction.

READ: FYI Resources nearing completion of construction of HPA pilot plant

 

FYI Resources’ pilot plant program is nearing completion of construction with test work expected by the end of June at its Cadoux Kaolin Project in Western Australia.

The pilot plant has been designed and engineered to test the HPA production flowsheet developed by FYI to assess the supporting process engineering technology and to optimise and de-risk the flowsheet ahead of full-scale production.

Managing director Roland Hill said earlier this month: “The pilot plant is another key element of our disciplined HPA strategy that will ensure the Cadoux Kaolin Project is de-risked towards production.

“We have arranged to deliver sufficient quantities of HPA product to our potential customers, which will greatly assist in negotiating binding off-take agreements and importantly project financing.”

Quick facts: FYI Resources Ltd

Price: $0.05

Market: ASX
Market Cap: $9.57 m
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