AUS
NZ
UK
CA
USA
IND
Highlights
- FYI Resources Limited (ASX:FYI) has attained an average purity of 99.997% during the first week of operations.
- The current pilot plant program is in line with the joint HPA development project between Alcoa and FYI.
- Both companies are progressing towards the joint development plan after achieving milestones.
Australia’s FYI Resources Limited (ASX:FYI; OTCQX:FYIRF; FSE:SDL) has received outstanding results from week one of the extended pilot plant production operations.
In a cheery announcement, the company stated that the first week of the operations attained an average purity of 99.997%. The first week of the trial operations was conducted in collaboration with Alcoa of Australia in November.
Following significant results, FYI states that the HPA project meets operational and quality expectations, demonstrating the effectiveness of FYI’s innovative refining process. The outstanding results also endorse the Company’s innovative HPA refining process.
Triggered by the announcement, shares of FYI surged by 8.06% during an intraday trading session to trade at AU$0.335 per share.
Relevant Article: FYI Resources (ASX:FYI) steps into second phase of HPA trials
High-quality grade results from week one trial
FYI has received high-quality grades across the series of samples from week one of the extended pilot plant trial, conducted between 16-23 November 2021.
Across the series of samples, FYI achieved a purity from 99.999% to 99.996% Al2O3, further confirming the Company’s innovative HPA flowsheet design.
Selected samples were analysed by EAG Laboratories in New York, USA, across all stages of the process. The samples were tested under high-level Glow Discharge Mass Spectrometry to provide highly accurate and independent confirmation of HPA grades.
Related Article: FYI Resources (ASX:FYI) embarks on extended HPA pilot plant trial
The current pilot plant program is in line with the joint HPA development project between Alcoa and FYI, announced on 1 October 2021 for the development and commercialisation of the Company's innovative process for the refining of high-quality HPA.
Further Plan
FYI along with its partner, Alcoa, is geared up to continue extended pilot plant trials with week two completed on 14 December 2021. Samples from the operations will be sent for an independent analysis after the completion of an internal assessment.
Followed by this, trials three and four are scheduled for operations in January 2022 and would target product generation for customer assessment purposes.
Related Article: FYI Resources Limited (ASX:FYI) and Alcoa agrees to extend HPA JV Exclusive Agreement
Process flowsheet improvement and increase in project economics
In line with the signed Term Sheet Agreement, both FYI and Alcoa are progressing towards the joint development plan after achieving milestones under the joint development schedule.
Positive results of the extended pilot plant operations will contribute to process flowsheet improvement and a potential increase in the project’s economics. It is a joint objective for optimising and improving the flowsheet by incorporating learnings from previous pilot plant trials and integrating them into the process design.
