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Highlights
- FYI Resources has a unique process design for high purity alumina (HPA) production, with its pilot plant in Western Australia.
- The small-scale production run achieved a 15% increase in product output, which shows process efficiencies.
- Internal testing suggests conformity of the product to upper range of quality and purity.
FYI Resources Limited (ASX: FYI) has announced that it has achieved a 15% increase in the total product output for HPA in the pilot plant production campaign. The campaign, which could produce large volumes of the product, has been successfully completed, and this paves the way for assessment by potential buyers, says the company.
FYI's pilot plant is in Western Australia, and samples were produced considering end user specifications.
Notably, FYI Resources has an "innovative process design" for producing high-quality HPA, which has broad applications in li-ion batteries (electric vehicles), LEDs, sapphire glass, and other products.
The development
FYI has confirmed the completion of its sample production campaign, with a 15% increase in the production output, reflecting process efficiencies and product recovery. The company says the production process embraced the learnings from project development refinements. Besides, internal testing of HPA shows that the product should conform to the upper range of quality and purity.
Large volumes of HPA produced allow for targeted product marketing to prospective end users. Notably, the sample campaign completed the pre-determined 17-day continuous production run. Now, the company would begin product finishing to multiple stages so that the produced HPA meets specifications of end users.
Besides, the company is prepping for independent tests of the product for purity analysis, after which FYI Resources would proceed to finishing stages and supplying samples to potential buyers for evaluation.
Source: Company website and ASX announcement dated 19 April 2023
Statement by Managing Director
FYI's Managing Director Roland Hill has lauded the development related to the small-scale production run through the company's pilot plant. He commented that the pilot run has enabled FYI to evaluate process efficiencies, and this is a step toward progressing the company’s relationships with high-quality HPA customers.
FYI’s ASX-listed shares traded at AU$0.11 at the time of writing on 19 April 2023, with market cap over AU$42 million.
