FYI Resources Limited announced that, subject to entering a financial assistance agreement with the State, it will receive a grant of up to $3 million from the Western Australian (WA) Government to progress the development of the Company's innovative high purity alumina (HPA) project. Government Support; The grant funding has been allocated under the WA Government's Investment Attraction Fund (IAF). The grant is awarded to selected groups that demonstrate an innovative approach to further industry investment, the capability to stimulate jobs and economic diversity, drive commercialisation outcomes and invest in new industry engagement opportunities and markets.

The grant will support the continued development of FYI's small-scale production and demonstration plant for the refining of high quality HPA (>99.99% Al 2O3) via the Company's innovative flowsheet design. Grant Funding Details; On execution of a Financial Assistance agreement with the State, the awarded grant funding will become available upon completion and substantiation of project milestones which are yet to be determined and agreed. The Company will be required to match any grant funding from the IAF.