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FYI Resources director reveals fourth share purchase in three weeks

The company aims to use kaolin from its Cadoux Project in Western Australia to produce high-purity alumina (HPA).

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Managing director Roland Hill has also recently purchased shares in the company

FYI Resources Ltd (ASX:FYI) non-executive director David Sargeant has made his fourth purchase of company shares in the past three weeks buying up another 262,685 shares.

Sargeant bought the shares for $15,761, increasing his overall holdings in the company to 4.74 million shares.

The continuous purchasing of company shares by board members shows their confidence in the company’s high-purity alumina (HPA) focussed strategy.

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

In mid-late May 2019, FYI updated that its pilot plant program was nearing completion of construction, with test-work results expected by the end of June.

The pilot plant will test kaolin feedstock from its 100%-owned Cadoux Kaolin Project in Western Australia with the aim to turn it into HPA.

The pilot plant is located in Welshpool, Western Australia and has been designed and engineered to produce high quality, ultra-pure 99.99% (4N) and 99.999% (5N) alumina (Al2O3) for the fast-growing high specification HPA market.

Quick facts: FYI Resources Ltd

Price: 0.049 AUD

ASX:FYI
Market: ASX
Market Cap: $10.43 m
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