FYI hopes for US listing

23rd February 2021 By: Esmarie Iannucci - Creamer Media Senior Deputy Editor: Australasia

PERTH (miningweekly.com) – ASX-listed FYI Resources is looking at a secondary quotation on the ‘over the counter’ (OTC) market in the US.

The company on Tuesday told shareholders that it has started the process for a secondary listing following significant interest from North American investors, in the hopes that it would enhance FYI’s visibility and liquidity to potential investors.

The company already trades on the OTC markets on the Frankfurt Stock Exchange and the Munich Stock Exchange, and said that it would maintain its primary listing on the ASX.

FYI is developing its Cadoux kaolin and Kwinana high purity alumina (HPA) project, in Western Australia, where a definitive feasibility study last year confirmed that 8 000 t/y of HPA could be produced from the integrated operation over a mine life of some 25 years, at a capital cost of $198-million.