HPA producing firm FYI Resources licensed to trade on US-based OTCQX market

The Australian listed resources company focused on developing an innovative and vertically integrated high quality, high-purity alumina for use in various high growth tech applications, FYI Resources Ltd has been licensed trade on the US-based OTCQX market.

On 29^th October 2021, the HPA producing firm started-off trading on the OTCQX under the symbol FYIRF. The OTCQX is the highest quality tier of OTC markets and offers trading in companies that are not listed on traditional exchanges.

Following the satisfaction with criteria of its balance sheet requirements, having high financial standards, patronising best practice corporate governance and demonstrating compliance with applicable securities laws, FYI was permitted to trade on OTCQX

FYI Resources is spotting itself to be a crucial producer of 4N and 5N high purity alumina (HPA) in the speedy developing high-tech product markets.

Hence, the upgrade is considered a major milestone for the company as it qualifies to exhibit its value and build visibility among US investors as well as dispensing real-time stock quotes outside of FYI’s ASX primary listing.

In May 2021, FYI first inherited the green signal from the Securities and Exchange Commission (SEC) for trading on the US-based OTC market.

It pertains in the list on the OTC in regards to a rise in US investor interest based on FYI’s fully integrated flowsheet design which provides HPA coupled with strong project financial metrics, a positive ESG impact and growing investment exposure into electric vehicle and strategic battery minerals supply chain opportunities.

However, the primary advantages to North American investors remain the same and comprise:

• Permits trading of FYI in the local time zone
• Trades and settlements are in US Dollars
• The OTCQX is a common share as the FYI shares traded on the ASX
• All shares are maintained through the company's current share registry, Automic Group.

The pure form of aluminium oxide, HPA is inclining as the primary endeavour after input material for certain high-tech products, while the United States stands as the vital market for HPA and its technology industry.

It remains in high demand due to best known for its utilization in LEDs and other sapphire glass products, although in the longer-term, there will be a need in the expanding electric vehicle and static energy storage markets where the major undertaking is in the use as a separator material between the anode and cathode in batteries to boost power, performance and safety of the battery cells.