FYI completed a pilot plant trial at Kwinana in early October, using kaolin samples from its Cadoux deposit, delivering the first 4N product from its first round of "end to end" continuous pilot plant production trials.

 

The company said the plant was exceeding its operational expectations, successfully derisking its conversion process. 

 

It has since optimised the pilot plant to create 5N (99.999%) HPA by instituting a number of minor improvements suggested during the trial phase.

 

The second run has been completed and the results are being assessed. 

 

FYI has an approved mining lease at Cadoux in WA's Wheatbelt region and has started engaging with investors, financiers, commodity trades and HPA end-users as it advances its definitive feasibility studies. 

 

In the east, Pure has completed a laboratory scale test that also produced 4N HPA, which the junior suggests is a potential co-product for its planned Townsville Energy Chemicals Hub project.

 

Pure intends to import laterite ore from New Caledonia and produce battery grade nickel and cobalt sulphate, with hematite, magnesia and aluminium hydroxide by-products.

 

It says HPA is "integral" to its strategy and it will commence an HPA scoping study, believing its low-cost ore may give it a competitive advantage.

 

4N HPA is the most widely used product in the HPA market and commands between US$20,000-$30,000/t.

 

FYI shares were off 3% today at A6.6c, valuing the company at $15 million, while Pure was valued at $9 million, based on a 1.9c share price, up 5.5%.