FYI) now trading in the United States
FYI Resources (ASX: FYI) started trading in the US based OTC market.
FYI started trading on the OTC on May 4, 2021 in the United States under the stock code OTCQB: FYIRF.
FYI’s is positioned as a major producer of high-purity alumina (HPA) 4N (99.99%) and 5N (99.999%) of high quality through low carbon and environmental footprint production and adhering to high ESG standards.
Its 100% owned Cadoux Kaolin project is located 220 kilometers northeast of Perth.
The move to OTC and dual listing comes just a month after the company updated its Final Feasibility Study (DFS) announcing that the project’s net present value (NPV) nearly doubled from $ 543 million. of dollars to now more than 1 billion US dollars.
FYI is now looking to strengthen its North American shareholder base in response to growing interest from US investors in its fully integrated and innovative process scheme design that delivers high quality, high purity alumina (HPA) coupled with excellent project financial parameters (as seen above), positive ESG impact and increased investment exposure in strategic electric vehicle and battery mineral supply chain opportunities.
The EV sector is a major market flow for HPA producers. Its application in lithium-ion batteries for the booming electric vehicle and static energy storage markets is growing dramatically as it is used as a separation material between anode and cathode in batteries to increase power, the functionality and safety of the battery cells.
HPA is also used in “traditional” markets such as LEDs and other sapphire glass products, substrates, electronics and specialty abrasives.
The US market (much like the Australian market) would also take a close look at FYI’s MoU with Alcoa of Australia Ltd. The companies are looking to formalize a joint venture on the development of FYI’s HPA project.
This could be the forerunner of a direct debit agreement, with a very real prospect of direct debit agreements with other global HPA users.