FYI Resources Ltd (ASX:FYI) (FRA:SDL) managing director Roland Hill has demonstrated his confidence in the company’s high purity alumina (HPA) strategy with the purchase of shares in an on-market transaction.
Hill acquired 200,000 shares on April 1 in a direct interest, increasing the number of securities held in that interest to more than 10.243 million shares with a further 6,617,951 held in an indirect interest.
DFS update at High-Purity Alumina Project
The company recently updated its definitive feasibility study (DFS) for its HPA Project resulting in an increase in forecast net present value (NPV) to more than US$1 billion.
Following the release of the company’s initial DFS last year, enhancements to the project include detailed flowsheet advances, process redesign, production optimisation and extensive supporting test-work (including multiple pilot plant trials) to optimise and de-risk the integrated HPA strategy.
After taking into account the technical and commercial improvements, market applied metrics relative to its peer group, updated inputs (exchange rate) and discount rate (8%) the company has updated the base NPV of the project by 87% to US$1.014 billion.