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CADOUX LIMITED — Capital/Financing Update 2015
Oct 26, 2015
64620_rns_2015-10-26_5d95d47b-dea4-4da7-b339-7b6ac08068fa.pdf
Capital/Financing Update
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27 October, 2015
ASX Release (ASX code: “FYI”)
$1,000,000 cash from land sale settlement
FYI Resources Ltd (the “Company” or “FYI”) is pleased to advise the settlement of the previously announced sale of the Company’s non-core asset at Baldivis, Western Australia (ASX 28[th] September). The Company has received $1,000,000 cash (before costs) from the sale.
The non-core asset is an undeveloped 7.11 hectare rural zoned property that was a remnant asset acquired by the Company when it was operating under a previous business strategy.
The proceeds of the sale will provide sufficient near term funding for FYI’s working capital requirements in continuing the development of its Southeast Asian potash strategy.
Further Information:
Roland Hill Managing Director Tel: +61 414666178
About FYI Resources Limited
FYI is an ASX listed resources company focused on potash in Southeast Asia.
The potential for potash deposits in Thailand and Laos was recognised following FYI’s extensive global review of suitable new projects and commodities that could add significant value to the Company.
Potash is the common term used for a group of potassium minerals used principally as agricultural fertilisers. The Company’s strategic move into the commodity followed its market analysis reinforcing the view that the current increasing human populations will lead to higher sustained demand for potash minerals to help boost food production, yield, quality and taste of produce.
53 Canning Highway, VICTORIA PARK, WA 6100 Tel: +61 8 9361 3100 Fax: +61 8 9361 3184 Website: www.fyiresources.com.au ACN 061 289 218