Ann: FYI & ALCOA SIGN BINDING JV TERM SHEET FOR FYI HPA PROJECT, page-322

I think FYI got a very good deal, and those who think that a minnow like FYI should expect a 50:50 deal when it is Alcoa who is going to supply most of the funding, a strong strong marketing function, good technical expertise, high status, et cetera.

Is Alcoa interested in the Cadoux kaolinite mine, or not? Also, if Alcoa supplied the feedstock for FYI's trial runs, was it sourced from bauxite, or not?

There is a lot of iron in Bauxite, and most of it is extracted when the likes of Alcoa produce smelter-grade alumina, which is circa 98.5% pure. However, the challenge is to produce at least 99.99% HPA, or better still, 99.999%, and there is more at issue than just the purity percentage. Rightly or wrongly, I have always thought that bauxite is an unsuitable ore for battery-grade HPA because it is difficult to remove sufficient iron to attain battery-grade HPA. Also, the first step in the Bayer Process produces sodium aluminate, and that introduces unacceptable levels of sodium contaminant in the resultant HPA. This paragraph is purely to explain why I asked if Alcoa is interested in mining the Cadoux kaolinite deposit.