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Alcoa and FYI Resources Report Successful HPA Pilot Tests – Columns

The market has FYI Resources (ASX: FYI; FRA: SDL) for the successful completion of joint pilot tests with Alcoa Ltd. not rewarded just before Christmas. The share closed yesterday with comparatively good trading of just under 1.2 million shares at AUD 0.20 slightly in the red. It thus reached exactly the level of the most recent capital increase with institutional participation.

The pilot plant was operated 24/7 for seven days to demonstrate the “end-to-end” efficiency of FYI’s innovative HPA refining process. According to FYI, the joint test run achieved the expected operating parameters. The results of the pilot plant trial will be evaluated together. For this purpose, the product samples from the trial were sent to the USA for independent analysis to confirm that the target level had been reached. The joint operation and demonstration of the pilot plant by FYI is one of several conditions in a Memorandum of Understanding (“MOU”) with Alcoa.

The HPA produced during the trial run was consistent with previous trials and appears to be of excellent quality. FYI Resources plans to provide additional HPA samples to potential customers shortly for qualification in specific applications. FYI is in advanced talks with a number of Tier 1 industry groups in lithium-ion lithium-ion battery separators, sapphire crystal and other specialty markets through HPA offtake agreements. According to the HPA raw material research group CRU, the HPA market is growing with a CAGR of ~ 17%.

Roland Hill, Managing Director of FYI, commented on the successful trial production in the pilot plant: “We are once again extremely satisfied with the operational performance of the pilot plant. The project team did an excellent job. FYI’s innovative flowsheet demonstrates the efficiency of our HPA process.” All Information and data obtained from the experiment will also lead to further refinement of our final design.

FYI and Alcoa signed a memorandum of understanding for a joint venture on September 8, 2020. A decision on this is expected in the first quarter of next year.

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