Clean Energy Finance Corporation

Just doing a bit of research here as Clean Energy Finance Corporation has recommended FYI's outstanding project to be registered as a project of national significance. https://www.cefc.com.au/
This is really great news and hope their involvement in financing the project is confirmed once all pieces of the puzzle are put together. It's interesting they are are cornerstone investor in PLS and most recently provided debt facility for them as well.

What is most interesting for me is the project economics of FYI vs PLS stage 1 project
FYI NPV AUD$775m
PLS NPV AUD$709m

FYI EBITDA AUD$190m
PLS EBITDA AUD$133m

Whilst our capex is higher by $AUD100m, our EBITDA more than makes up for it at AUD$57m p.a

The point I'm trying to make is: PLS over the last 4 years has had a market valuation between $700m-$2b and are currently at around $800m - their latest annual report shows they had revenues of $84m and a $99m loss for the year.

Our project economics are far superior to PLS and HPA demand is expected to surge over the next ten years. We are partnering with the largest Alumina producer in the world and our capex/opex is expected to be improved from our DFS figures and we are still sitting at $65m market cap.