Next Investors logo grey

Australian Government Awards FYI National Project Status

Published 29-JUN-2021 16:47 P.M.


2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.

Click Here to View Latest Articles

FYI Resources Ltd (ASX: FYI; OTCQB: FYIRF; FSE: SDL) has announced that the Australian Government has approved Major Project Status (MPS) for the Company’s innovative high purity alumina (HPA) project in Western Australia.

The MPS award endorses FYI’s project as one of national significance by the Australian Federal Government and potential economic contribution to the country.

Managing Director of FYI, Mr. Roland Hill commented: “We are delighted to receive the formal recognition from the Australian Federal Government for our innovative and fully integrated HPA project.

"The MPS demonstrates the significance of our project. The importance of the status should also assist in providing confidence for international and ESG investors by providing increased assurance in our development pathway.”

The award acknowledges FYI’s innovation and the potential for the HPA project to positively contribute to the economic prosperity of Australia

In approving the MPS to FYI today, the Minister for Industry, Innovation and Science, the Hon. Christian Porter MP, has recognized FYI’s role in the growing battery and energy related minerals industry in Australia through its planned participation and investment in downstream critical minerals processing sector.

The benefits for the Company achieving Major Project Status are:

  • a single entry point for Commonwealth Government approvals;
  • project support and coordination;
  • assistance with state approvals;
  • assistance and support with ESG goals;
  • potential financing support; and
  • provide additional confidence to investors and financiers.

The awarding of the MPS follows on from the awarding of Lead Agency to FYI by the Premier of Western Australia, Mr Mark McGowan, and the WA Department of Jobs, Tourism, Science and Innovation.

The MPS is awarded to developers with projects over $50 million and of strategic significance to Australia.

Most projects have Major Project Status for 3 years, and are typically expected to complete the approvals process within those 3 years.

General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.