FYI Resources, AU000000FYI5

FYI Resources, AU000000FYI5

10.01.2022 - 16:33:45

FYI Resources: QUALITY RESULTS CONTINUE FROM JOINT EXTENDED HPA PILOT PLANT TRIAL

The pilot plant program supports the joint HPA development project between FYI and Alcoa for the commercialisation of FYI's innovative process for refining high quality HPA. The piloting program continues the optimizing of the process flowsheet. Whilst feedstocks variations and blends continue to be assessed, this trial run feedstock was supplied by Alcoa.

FYI Managing Director, Roland Hill, commenting on the results said "In the context of FYI and Alcoa's joint HPA development objectives, the latest results are very pleasing as we trial different variations of operating conditions. It is a joint objective for the continual improvement and optimizing of the HPA flowsheet by incorporating learnings from previous pilot plant trials and integrating them into the process design. The latest test results demonstrate the progressive advances in the process flowsheet that the joint development is achieving as well as incremental improvement in the overall project value".

Next Pilot Plant Trial In progressing the joint HPA development program, the third extended pilot plant trial is scheduled to commence operation on 17th January 2022. This trial will be a continuation of the previous trial objectives, focusing on flowsheet refinement as well on HPA product generation for customer assessment purposes.

This announcement is authorised for release by Roland Hill, Managing DirectorFor more information please contact:

Roland Hill Managing Director Tel: +61 414 666 178 roland.hill@fyiresources.com.au ?

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About FYI Resources Limited FYI's is positioning itself to be a significant producer of 4N and 5N HPA in the rapidly developing high-tech product markets.

FYI applies both an ESG and economic overlay of the Company and its operations to ensure long-term sustainable and shareholder value is created via the development of the Company's innovative, high quality, ultra-pure HPA project.

HPA is increasingly becoming the primary sought-after input material for certain high-tech products principally for its unique properties, characteristics and chemical properties that address those applications high specification requirements such as LED's and other sapphire glass products.

The longer-term driver for HPA, with forecasts of >17% CAGR*, is the outlook for the burgeoning electric vehicle and static energy storage markets where the primary function is in the use as a separator material between the anode and cathode in batteries to increase power, functionality and safety of the battery cells. The foundation of the HPA strategy the Company's moderate temperature, atmospheric pressure innovative process flowsheet. The strategy's quality attributes combine resulting in world class HPA project potential.

* CRU HPA Industry Report 2021

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