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Highlights
- FYI Resources Limited has successfully completed the initial phase of the extended pilot plant campaign for the trial production of HPA.
- The Company has received impressive results from trial runs with the product appearing to meet expectations higher than the Company’s internal measures.
- FYI will now submit the samples to EAG Laboratories in New York, USA, for high-level Glow Discharge Mass Spectrometry (GDMS) analysis.
Shares of FYI Resources Limited (ASX:FYI, OTC:FYIRF) climbed up as much as 4.41% to trade at AU$0.355 per share during the intraday trading session following an announcement related to its HPA Project in Welshpool, Western Australia.
In an upbeat announcement, the resource player stated that it had successfully completed the initial phase of the extended pilot plant campaign for the trial production of HPA. The significant trial run was undertaken in collaboration with Alcoa of Australia, one of the largest aluminium producers in the world.
Related Article: FYI Resources (ASX:FYI) embarks on extended HPA pilot plant trial
Image Description-Management Commentary
FYI has received promising results from the trial runs with the product appearing to meet expectations higher than the Company’s internal measures.
Western Australia Government’s Battery Industry Strategy
The extended pilot plant campaign undertaken by FYI was in line with the Western Australia Government's Battery Industry Strategy that envisages developing a sustainable, world-leading battery industry. The battery industry will help the country to create more job opportunities, benefit regional communities, support economic diversification and contribute towards skill development.
Related Article: FYI Resources Limited inks binding term sheet with Alcoa for HPA development
Image Description-HPA Project timeline
The current production run is the second joint pilot plant trial undertaken by FYI and Alcoa. The HPA producer has already completed the first trial run, which was started on 19 October 2021.
Future plans
FYI has already received positive results from the operations performed at the facility and now samples of the extended trial HPA product will be checked internally. Thereafter, the samples will be submitted to EAG Laboratories in New York, USA, for a high-level Glow Discharge Mass Spectrometry (GDMS) analysis.
Related Article: FYI Resources Limited (ASX:FYI) and Alcoa agrees to extend HPA JV Exclusive Agreement
The GDMS analysis will provide highly accurate and independent information about grades of HPA. Additionally, the resource player has made commitments to inform the market regarding the progress of independent GDMS analysis results as well as the beginning of the second-phase pilot plant trial in the extended piloting operations schedule.
