A4N product and grade summary, page-31

I said I'll look into djkencloud's post later, and I too am keen to know what is in FYI that can benefit Alcoa. I do not know the answer, but suggest that it is one or more of the following factors:

• "Nearology" -- that is that FYI's Cadoux kaolin deposit is in WA where Alcoa is active, and a processing plant in Kwinana can virtually be an extension of Alcoa's facilities there. Alcoa has a bauxite mine in Huntley and another in Willowdale, both relatively close to the three refineries (Kwinana, Wagerup and Pinjarra). Cadoux is 245k from Kwinana, so although not close, it's close enough.
• The characteristics and morphology of the kaolin feedstock may just happen to be what the target market requires, and such trace contaminants as remain in a 99.999 product are not the bad guys (Na, Fe and Pb).
• The FYI's refining technology probably has sufficient merit from Alcoa's perspective, because irrespective of what FYI cannot achieve in respect to purity side and production throughput, Alcoa can fix. Remember, Alcoa was called in by  Western Mining Corporation because WMC requested Alcoa's expertise, and the aluminium-related activities of WMC became Alumina Limited, which has a 45:55 JV with Alcoa called Alcoa World Alumina and Chemicals (AWAC).

My punt on FYI is very much based on the notion that if Alcoa saw merit in FYI that sufficed it to get into an MOU, then that is good enough reason for me. However, I still do not know why Alcoa wants to get into a small market like ultra HPA. If the mooted JV does not happen, then an entity more aligned with battery materials can replace Alcoa, so FYI may still come out well. It is just a punt for me, which is not my usual style of investing. I normally only post in HC subforums of stocks that I hold.