FYI Resources Ltd (ASX:FYI) has been taking large strides on its path to producing high purity alumina (HPA) in Western Australia and will be outlining recent progress and upcoming plans during a virtual conference next week.
The companys managing director Roland Hill will be making an online presentation to shareholders and investors at the NWR Virtual Resources Conference at 9.30am AEST on Thursday, May 7.
Event is free[hhmc]
This event organised by NWR Communications is free and investors can register online to view the presentation – https://us02web.zoom.us/webinar/register/WN_ijxl6RK1TuC14mmVlOUEjw.
A corporate update and definitive feasibility study (DFS) presentation will be released to the market ahead of the conference.
Since close on Monday, shares have risen from 4 cents to a high of 5.8 cents today.
Positive DFS[hhmc]
Last month the company released a positive definitive feasibility study (DFS) for its Cadoux kaolin and Kwinana high-purity alumina (HPA) project in Western Australia.
The DFS forecasts an after-tax net present valuation (NPV) of US$543 million based on a 25-year open-pit mining, processing, and refining operation.
Landmark equity financing[hhmc]
FYI has also secured landmark equity financing backing for up to A$80 million from Luxembourg-based private equity group, GEM Global Yield LLC SCS.
The funding provides FYI with capital support for the development of its HPA project, particularly at key funding requirement stages.
It will also assist FYIs board in making its final investment decision (FID) for the project.
DFS outcomes[hhmc]
The DFS assumes 25 years of production from a potentially long-term 50+ years mine life.
It targets production of HPA commencing in Q2 2022 through a beneficiation plant at the Cadoux project and a hydrochloric acid (HCl) leach and precipitation plant at Kwinana.
A total of 18 separate mining stages have been planned for the life of mine schedule with the average life of each stage being three years.
“Persuasive economic case”[hhmc]
Managing director Roland Hill saiRead More – Source
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