Basic Materials

Results endorse FYI’s innovative refining

Wed 15 Dec 21, 2:56pm (AEST)
Strong results may also have a positive impact to the project economics

Stocks in article

fyi
MktCap:
-

Share article

Key Points

  • Positive results found favour with the market
  • Trials 3 and 4 scheduled for operations in January 2022

FYI Resources (ASXD: FYI) share price was up 3.23% well into today’s trading following revelations that its pilot plant trial sampling, conducted in collaboration with Alcoa, had achieved an average of 99.99% aluminium oxide purity in first week of trials.

Following week one of trialing, conducted during November 16 to 23 of this year, the company says results prove high purity alumina (HPA) meet operational and quality expectations and demonstrates the effectiveness of FYI’s refining process.

New York based analysts used high-level glow discharge mass spectrometry to confirm the grading of the HPA.

With week two of the trials now complete, independent analysis to about to take place, while trials three and four will be scheduled for operations in January 2022.

FYI Managing Director, Roland Hill believes the results positively endorse the company’s innovative HPA refining process.

“The results may also have a positive impact to the project economics (capex and opex improvements) as well as continuing to demonstrate the ability to deliver consistent and reliable high quality HPA product”.

Over the last 3 years the company has invested heavily in detailed research and development in refining, and perfecting an innovative eco-friendly purification process for HPA utilising conventional process technologies and equipment selection.

 

Written By

Mark Story

Editor

Mark is an award-winning investigative financial journalist and editor who started his career working for Marathon Oil in London. He has a degree in politics/economics, a diploma in journalism and has completed the Institute of Directors course. Mark has worked on 70-plus newspapers and financial publications across Australia, NZ, the US, and Asia including: The Australian Financial Review, Money Magazine, Australian Property Investor and Finance Asia. Mark is passionate about improving the financial literacy of all Australians through the highest quality content.

Get the latest news and media direct to your inbox

Sign up FREE