FYI Resources Ltd (ASX:FYI, OTCQX:FYIRF) MD Roly Hill tells Proactive the company has conditionally been awarded an A$3 million grant from the Western Australian Governments Investment Attraction Fund (IAF), which will accelerate the development of its innovative high purity alumina (HPA) project.
The grant recognises the importance of FYIs project to the state of WA and will support the continued development of the companys strategy to become a supplier of high-quality HPA.
Hill said: We are very pleased to receive selection confirmation for funding by the Western Australian Government under the IAF scheme.
The grant will allow us to continue the development of the HPA project and the advanced and innovative technologies.
FYI has demonstrated the technical viability of the HPA project and is now setting about demonstrating its commercial potential.
FYI is at a crucial step in positioning as a sustainable, integrated HPA producer and the IAF funding will contribute significantly to accelerate the project development."
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FYI Resources Ltd
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