NEWS

FYI Resources works toward a September quarter BFS for Kaolin Project

The company’s share price is up on news of producing 5N (99.999%) high-purity alumina.

  • A Cadoux Kaolin Project BFS is expected in late September quarter 2019
  • Funded pilot plant studies of Cadoux ore are due to be completed in late June quarter 2019
  • Process refinements are taking place before pilot plant studies are launched
  • Test work successes announced yesterday show 99.999% (5N) high-purity alumina (HPA, Al2O3) can be produced from the company’s process
  • 4N purity (99.997%) has already been achieved
  • Demand for HPA is expected to accelerate dramatically

What does FYI do?

FYI Resources Ltd (ASX:FYI) specialises in kaolin exploration and high-purity alumina (HPA) project development in Western Australia. The company is run by Roland Hill, a mining analyst and equity fund portfolio manager with 18 years mining and exploration industry experience.

Hill has been FYI’s chief executive officer for eight years and was previously managing director and chairman of producer Crescent Gold Limited over a 7-year period.

A science and commerce graduate, Hill was a senior analyst at stockbroking firms and investment banks and managed a portfolio of investments for Deutsche Bank’s Australian and international resources equity fund.

What does FYI own?

The key asset is the Cadoux Kaolin Project which lies northeast of the city of Perth and southeast of Geraldton port in WA.

FYI’s vision is to use the high-quality aluminous clay, or kaolin, from the Cadoux deposit as feedstock for high-purity alumina (HPA) production using its process.

The company has argued the clay is a model feedstock and has ideal metallurgical characteristics.

FYI’s kaolin is also an inexpensive low-impurity feedstock with certainty of supply. The grading is 24.4% aluminium oxide.

Cadoux reserve, prepared by CSA Global and announced in late October 2018, could effectively support a 52-year mine producing 8,000 tonnes a year of HPA.

Global HPA demand is expected to increase from about 35,000 tonnes in 2017 to 125,000 tonnes in 2025, driven primarily by strong growth in demand for lithium-ion battery (LIB) separator coating.

Read full announcement

SOURCE: PROACTIVE INVESTORS
DATE: MARCH 13, 2019

 

Connect with our Leaders

SIGN UP FOR EMAIL ALERTS

CONNECT WITH CSA GLOBAL