STTCOMP FYI, FA Long
FYI Resources Limited
SOI – 185M
MC – $23M
SP – 13c
About FYI
FYI Resources is focused on the exploration and development of selected projects in strategic commodity sectors. They boast that their projects are selected on technical and economic merit as well as the long term market outlook. The Company has currently identified potash and high purity alumina (HPA) as strategic commodities for exploration and development.
Directors and Top 20
FYI’s Projects
Potash in Thailand: FYI has a number of project areas that it is intending to explore and develop in Thailand. The portfolio of projects focuses on the Khorat Basin, North-eastern Thailand. The project areas were selected on the basis of previous drilling campaign results and associated technical data. FYI’s project areas are located over demonstrated potash occurrences.
Potash in Laos: The Lao target project areas are located ~220km southeast of the country’s capital, Vientiane, and are directly across the Mekong River from FYI’s main target project areas in Thailand.
High Purity Alumina in WA: FYI is positioning to be a solution provider in the high purity alumina (HPA) industry by developing a fully integrated HPA processing facility based on its HPA project located at Cadoux (Cadoux Project) in Western Australia. This project is now becoming FYI’s flagship project and they believe that its current reserves are more than adequate for production of 4N alumina in substantial volumes with ample reserves for direct sale as kaolin which could generate earlier cash flow for the Company (FYI’s HPA strategy and their Cadoux Project will be further discussed in the following sections).
FYI Processing Strategy
FYI’s strategy has been to produce HPA through conventional chemistry, but via a non-traditional processing route. The HPA processing route is expected to be re-engineered by producing 99.99% alumina directly from an ore source – not from already refined aluminium metal. In achieving this, FYI will utilise standard flow sheet and proven off-the-shelf equipment in its process design to optimise production efficiencies and to reduce production risk.
Following benefits are expected through FYI’s new processing technology:
substantially lower capex & opex, means improved economics
control of product quality
greatly improved refining abilities
lower pressure & temperature
lower energy requirement
less waste
lower environmental impact
FYI intends to utilise the low-cost, low-impurity, high grade aluminous clay, sourced from the Cadoux kaolin deposit as the feedstock in a hydrochloric acid leach (HCL) process which will be efficient and effective in the production of HPA. Sourcing ore from their own deposit at Cadoux will ensure security of supply and allows a very tight control over product quality and characteristics such as purity, size, crystal structure and products that may be especially engineered for specific markets and applications.
Internal economic assessment done by FYI has determined a production capacity of 5,000 to 10,000 tpa of HPA. These target production figures are yet be confirmed through a Pre-Feasibility Study, however, if achieved, that would earn them the biggest market share in comparison with current players.
FYI’s Cadoux Project Location
Geology
The Cadoux kaolin project area lies within easily accessible and flat lying countryside. There is no outcropping, however, recognizable granitoid fragmental rocks are sometimes present just below the surface. Previous drilling at the project revealed a weathering profile which is common in Western Australia with the granitoid rocks being deeply weathered forming a leached, kaolinized zone under a lateritic crust. Laboratory analysis shows particle size distributions are typical of “primary style” kaolin produced from weathered granites.
The crust of the overburden comprises gravel and sands over reddish to off white clay to an average depth of 5m. White kaolin underlies the overburden averaging approximately 16 m followed by weathered orange to yellow sandy and mottled clays that are partially oxidised and then followed in profile by recognizable rounded fresh granitoid material at depth. The thickness of the kaolin profile varies from less than 1m to a maximum of 22m. Fresh granitoids are found interspersed at depths of between 10 and 30m.
All of the current kaolin resource is within 4 to 11 metres of the surface.
The Cadoux project area boasts excellent infrastructure, including:
Less than a kilometre to rail sliding
Major arterial sealed road network in the vicinity
Water, power and telephone services readily on the tenement boundary
Only 220km from Perth
FYI’s Progress so far
As always, DYOR before making a financial decision. GLTA!
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