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FYI attracts equity backing for impressive-looking HPA development

HIGH purity alumina junior FYI Resources needs in the order of A$300 million to develop its integrated Cadoux kaolin/Kwinana HPA project, with $80 million said to be accounted-for via an “equity financing facility” provided by European private equity group GEM Global Yield.

Michael Quinn
FYI attracts equity backing for impressive-looking HPA development

The deal with GEM is multi-layered with the price of the shares to be issued contingent on various factors. FYI started the current quarter with $416,000 cash and a capitalisation of about $10 million....

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