FYI Resources (ASX:FYI) ends September quarter with key HPA project developments

Highlights

• FYI Resources’ (ASX:FYI) September quarter saw developments across the company’s HPA project.
• The quarter saw Hatch Engineering appointed as ESP manager, and stage two engineering workstreams progressed for demonstration plant development.
• The company reported positive results from anode testwork and continued development.
• FYI was awarded a positive re-rating for its ESG compliance during the period.

FYI Resources Limited (ASX:FYI) is committed to becoming a significant producer of high-quality, high-purity alumina (HPA) targeting the rapidly developing high-tech product markets. The company has partnered with Alcoa of Australia Ltd for the project.

The September quarter saw many activities advancing the development of the company’s world-class integrated HPA project, including the award of engineering services contract for the stage two of the HPA-JDP demonstration plant.

Additionally, during and subsequent to the period, the company highlighted downstream HPA application developments, aimed at creating additional value-added market applications for HPA.

Moreover, the quarter saw FYI Resources completing its annual environmental, social, and governance (ESG) review, a step towards its ESG journey.

Hatch Engineering advances on HPA project developments

The quarter saw the appointment of Hatch Engineering to support stage two works for the HPA joint development project (JDP) demonstration plant based on FYI’s innovative flowsheet design and engineering.

Workstreams being progressed include the following:

(Source: © 2022 Kalkine Media®, data source: company update, 31 October 2022)

HPA product marketing and customer outreach program

Along with the activities mentioned above, JDP has also worked on the ongoing HPA product marketing and customer outreach programs, targeting both the sapphire glass (LED) and battery (EV) markets during the quarter.

The period saw the dispatch of a 120kg HPA sample to a European battery-focused technology company that previously provided positive feedback on the initial HPA assessment samples.

Also, the JDP team hosted representatives from 26 industry participants at Alcoa’s Booragoon offices in early September. The discussions were focused on the role of HPA in the global energy transition and how HPA can be integrated into applications within their business strategies.

Downstream HPA battery anode architecture studies

FYI is also exploring downstream opportunities to create additional value-add market applications.

One such opportunity is HPA-enhanced, high-density anode coating for Li-ion batteries. The company is working in collaboration with EcoGraf Limited (ASX:EGR) towards anode development aimed at enhancing the following parameters of a graphite anode in high power density batteries

• Reliability
• Longevity
• Performance
• Safety
• Cost-effectiveness

The quarter saw the completion of an extended, li-ion battery electrochemical performance test program following the positive results from previous test work.

As per the company, the positive results from the testwork covering more than 110 continuous cycles bolster its assessment of the suitability for long-term cycling performance characteristics of FYI’s HPA in enhanced battery technologies. The observations also confirmed that the HPA coating is acting as a hydrophobic reductant, ensuing the hydrophilic nature of graphite particle surface.

(Source: Company update, 31 October 2022)

The company has also reported additional testwork results with HPA used in industry-standard polyolefin separators. As per the company, the initial evaluation of these enhanced separators has shown an improvement of 7.94 mAh/g to the reversible capacity. For detailed information about the results and prospects of coated anodes, click here.

Substantial improvement in FYI Resources’ ESG rating

As per FYI, ESG is one of the key aspects of the company’s business model. It acknowledges the company’s duties as an emerging low-carbon originator and its project’s sustainability & ESG obligations.

The company has been awarded a positive re-rating for its ESG compliance. For detailed description of the ESG rating and the company’s compliance, click here.

(Source: Company update, 31 October 2022) 

FYI shares traded at AU$0.140 on 4 November 2022.