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FYI Resources Ltd.
Summary
| Project: | Cadoux | |
|---|---|---|
| Deposit: | Cadoux | |
| Location: | Australia | |
| Commodities: | Kaolinite | |
| Date: | 3/11/2020 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 11-3-2020: FYI Resources Ltd. announces a Feasibility Study report for its Cadoux deposit at the Cadoux project. DFS results incl. after tax NPV (10%) of US$543M, IRR of 46%. The Board of FYI Limited (FYI or Company) (ASX: FYI) is pleased to provide the r | |
| Resources: | (Reserves, P+P): 3.2Mt @ 24.8% Al2O3 | |
| CP/QP: | [Reserves]: Steve Craig (Orelogy Consulting Pty Ltd.) | |
| ABSTRACT: | The Board of FYI Limited (FYI or Company) (ASX: FYI) is pleased to provide the results from its Definitive Feasibility Study (DFS) and announce a supporting major equity funding facility for the Company’s integrated Cadoux kaolin and Kwinana high purity alumina (HPA) project in Western Australia, including associated updated Cadoux kaolin Ore Reserve. FYI has the corporate objective of becoming one of the world’s leading producers of HPA via the development of a fully integrated business model addressing the growing global demand for this high specification and diverse application product. The DFS reconfirms FYI’s 2018 Project Pre-Feasibility Study (PFS) results (please refer to ASX announcement 25th September 2018) and demonstrates the quality of the Company’s HPA strategy through excellent economic metrics. The DFS outlines the clear pathway forward to developing an integrated HPA business in a favourable operating jurisdiction such as Western Australia. FYI has arranged an A$80m equity financing facility to progress the Company’s HPA development strategy. The equity will provide critical funding for the substantive development stages leading up to, and including, construction through to operation. The funding is a key catalyst for the Company’s development objectives and significantly de-risks the project. The funding will also assist in the final investment decision (FID) for the project from FYI’s Board. | |
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