Proactive Investors - Run By Investors For Investors

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.”

View full FYI profile View Profile

FYI Resources Ltd Timeline

Related Articles

Latin Resources geologists identify spodumene crystals in an abandoned mine
April 25 2019
The company aims to determine targets, secure ground and define resources.
The main access road to Hexagon and MinRes’ McIntosh Graphite Project in WA
January 30 2019
The MinRes JV partner expects a mineral resource update this quarter ahead of study work.
Archer quantum computing technology
April 15 2019
As part of its advanced materials strategy, the company is progressing a graphite-to-graphene beneficiation strategy.
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use