Ann: Investor Presentation - Brisbane Mining Conference, page-139

All that a stake in FYI has shown me in the past 6 months is that this is an excellent way to destroy capital. If the SP went sub 20's, I still don't think it would be attractive to re-enter this stock. There's nothing wrong the forecast numbers for the HPA business (they are excellent), it is simply that the first FID has not been actioned despite advice from FYI that it would happen in Q3 FY22, so that leaves some uncertainty about the future for the FYI/ALCOA venture. Anything could happen, so I'm sitting out to see what might eventuate in Dec 2022. I don't accept that the reason for the delay with the FID until the end of 2002 is just that ALCOA are a big and cumbersome company that take their time to do anything.

All IMHO, DYOR