Exactly @canuck81 I think people thought that we would be waiting for all four pilot runs to be completed, further testing etc.
Phase two, if it goes ahead in January as Roly eluded to means:
- An unincorporated JV is entered into by FYI and Alcoa - We agree to build a 1,000tpa plant - we will find out the location and cost of this plant. - We start to finalise engineering for the larger plant
It means that engineering is virtually done for the 1k tpa plant and they are refining things. As Roly stated, likely CAPEX and OPEX improvements.
If there are CAPEX improvements it means that there is less for FYI to have to fund for their 35%. Further to this if the costs are reduced so much, we would get a credit for our portion of the reduction.
A bit more patience through to the new year and then I feel things will feel like they are moving again.
IMO
FYI Price at posting:
33.0¢ Sentiment: Buy Disclosure: Held
