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Highlights
- FYI Resources has completed week two of its extended pilot plant trial campaign.
- The pilot run is the second one-week plant operation and is a part of the four individual trial runs to be conducted during the extended program.
- The Company plans to check the samples internally from week two of the extended trial and submit them for GDMS analysis.
FYI Resources Limited (ASX:FYI; OTCQX:FYIRF; FSE:SDL) has successfully completed the week two of the extended pilot plant campaign for the trial production of high purity alumina (HPA).
Following the announcement, shares of the Company swelled 1.61% to trade at AU$0.315 on 14 December 2021.
The pilot run is the second one-week plant operation and is a part of the four individual trial runs to be conducted during the extended program. FYI is executing the extended pilot plant trial campaign in collaboration with Alcoa of Australia for the expansion and commercialisation of the HPA project.
Relevant Article: FYI Resources (ASX:FYI) steps into second phase of HPA trials
A trail of successful results
Continuing the track record of encouraging results recorded during the first week trial, the week two operations at the pilot plant facility in Welshpool, WA have churned out positive results. The pilot plant has met the upper limits of FYI’s internal expectations.
Related Article: FYI Resources (ASX:FYI) embarks on extended HPA pilot plant trial
The Company has already submitted HPA samples from the first-week trials for high-definition analysis and the results are likely to be released soon.
Further plans
As per the Company’s internal analysis procedures, FYI plans to check the samples internally from week two of the extended trial HPA product and submit them for high-level Glow Discharge Mass Spectrometry (GDMS) analysis.
The GDMS analysis would be undertaken at EAG Laboratories in New York. The analysis will provide an accurate and independent confirmation of the HPA grades.
Related Article: FYI Resources Limited inks binding term sheet with Alcoa for HPA development
Binding Agreement
Initially, both Alcoa and FYI had entered into an MoU in August 2020 for the joint development of the HPA project and later in October 2021, both parties finalised a binding term sheet.
Both the parties are determined to reinforce an initial demonstration plant and an HPA production facility to establish a leading HPA business. As per the term sheet, the overall construction cost linked to the HPA refining project would be borne by Alcoa. FYI anticipates that the HPA market will grow at 17% CAGR in the longer term, bolstered by burgeoning electric mobility and energy storage demand.
Related Article: FYI Resources Limited (ASX:FYI) and Alcoa agrees to extend HPA JV Exclusive Agreement
