FYI Resources Ltd’s (ASX:FYI) managing director Roland Hill has demonstrated his faith in the company's high purity alumina (HPA) strategy through the on-market purchase of shares.
Hill acquired 725,000 shares valued at $29,288 on September 24 and now holds more than 14.4 million shares in a direct interest and an indirect interest.
The company's shares are trading almost 7% higher today at 4.6 cents.
WA Premier support
Earlier this week the company gained the support of Western Australian Premier Mark McGowan for its Cadoux Kaolin High Purity Alumina (HPA) Project.
At the time Hill said the support from the State Premier was very encouraging.
“This recognition represents a significant step for FYI in terms of assisting the company in securing the remaining pre-development approvals and providing support with discussions as well as concluding negotiations.”
Tests exceed targeted grade
The company also recently achieved outstanding purity consistency from variability test work during commissioning trials for its HPA pilot plant.
Glow Discharge Mass Spectrometry (GDMS) analysis was undertaken at EAG Laboratories in New York, USA, for independent, high accuracy and confirmation of product grades.
The GDMS results indicate all 10 composites achieved high purity alumina above 99.9995% alumina with final product assays ranging from 99.997% to 99.998% alumina.
Final GDMS assay results indicated that a consistent product can be achieved with significantly variable feed inputs into the process.
FYI Resources Ltd’s (ASX:FYI) managing director Roland Hill has...
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