I don't know of any major shareholders who were selling over the...

I don't know of any major shareholders who were selling over the last two days, to the contrary, some were buying.
Alcoa's departure is off course a set back, but in reality the Project was going nowhere with them at the helm. They have 'dicked us around' since the Term Sheet was signed, and it was time for them to shit or get off the pot. They haven't done their reputation any favors here, at a time when they are already somewhat 'on the nose' in Oz. They have some major challenges they need to deal with, and it looks like they have simply decided to focus on their core business activities. This just isn't the time for them to be venturing into 4N / 5N, and it may never be. Their departure presents FYI management with some significant challenges, but there are also opportunities too:

• FYI can progress Project execution at a faster pace
• Have a greater probability of securing govt. grants / financing
• Eliminates any constraints with potential customers which may have conflicted with Alcoa's interests

Other positives include:

• Flowsheet / process development (including cost optimization) has been progressed, and this was funded by Alcoa
• 100% of all profits will now be retained by FYI
• Customer outreach has progressed since TS with the PP continuing to operate and samples being supplied to potential customers
• ESG credentials are now well established (and at current market cap. it would be easy for an ESG fund to establish a substantial holding)

We will need to wait a few weeks to see the details of FYI's plans for Project development (which is to be expected). Suffice to say, once finance has been secured, the Small Scale (Demo) Plant will be built. Roy is committed to seeing this through to fruition, and has no intention of stepping down. Note: Roly doesn't read HC, so if you want to be heard, you should email him instead of bitching and complaining here. Although, why would you care IF you'd sold out long ago?

IMOA! DYOR! GLTAH!