Join our daily newsletter At The Bell to receive exclusive market insights
- FYI Resources has completed initial testing at its HPA plant in Welshpool, WA
- The trial phase has exceeded the company’s expectations
- The company is gearing up to develop the facility into a reliable HPA producer
- High purity alumina is vital for the growing LED and electric vehicle markets
- Next steps include sending the HPA to the U.S. for analysis and giving commercial samples to potential customers
- Despite the news, FYI Resources’ share price has gone down 3.23 per cent, with shares trading at 6 cents
FYI Resources has successfully completed the pilot plant trial phase of its high purity alumina (HPA) development strategy.
FYI is developing a HPA pilot plant located in Welshpool, Western Australia.
The company is positioning itself to be a significant HPA producer to target the growing demand for LEDs, electric vehicles, as well as other technologies such as smartphones, batteries and televisions.
The pilot plant operated continuously from October 2 – 9. During that time, the plant exceeded FYI’s modelled operational performances. This demonstrates the likeliness for the HPA plant to operate efficiently on a continuous basis.
“We are really happy with the outcomes of our trial production run from our purpose-built HPA pilot plant. We continue to systematically progress the development of our HPA strategy towards the goal of commercial production of this ultra-pure, in demand product,” Managing Director Roland Hill said.
The trial has delivered sufficient requirements for FYI to develop the final design and engineering of process plant equipment in its definitive feasibility study (DFS).
“Through completing the pilot plant trial, we have identified we can further optimise our process, which we expect to have benefit capital and operating cost in the DFS,” Roland continued.
FYI’s next steps include sending the trial high purity alumina product to the U.S. for independent analysis.
Additionally, the company is progressing to the detailed customer engagement phase which will see its HPA product forwarded to selected groups of interest.
Despite the news, FYI Resources’ share price has gone down 3.23 per cent, with shares trading at 6 cents as at 3:47 pm AEST.
