FYI recently completed its pre-feasibility study (PFS) on the...

FYI recently completed its pre-feasibility study (PFS) on the Company's 100% owned Cadoux high purity alumina (HPA) project resulting in excellent operating and investment parameters (please see FYI ASX announcement 25th September for details). As a result, the Company has committed to, and commenced, the subsequent bankable feasibility studies (BFS) to further develop the Cadoux HPA strategy.GR Engineering (GRES) fulfilled the role of process engineering manager for the PFS. Whilst the BFS is already underway, following discussions regarding scope, FYI are happy to continue the excellent working relationship and first rate quality work by formally appointing GRES as the overall study manager to BFS completion.FYI looks forward in working with GRES and the other BFS study contributors towards an equally outstanding BFS outcome. FYI is fully funded to complete the BFS, targeted for June 2019.The Cadoux HPA PFS highlights include an after-tax NPV value of US$506 million (calculated @ 10% discount rate), an internal rate of return of 46% (after tax), annual EBITDA of US$128m per year and a project payback of ~3.6 years.