Up 1,300% in a year, why the FYI Resources (ASX:FYI) share price is rising today

The FYI Resources Ltd (ASX: FYI) share price is edging higher today, up 2% at the time of writing.

This comes after the company emerged from a trading halt pending today’s ASX release. We take a look at the latest announcement from the ASX resource share below.

What update did FYI Resources report?

FYI Resources shares are moving higher after the company released an updated definitive feasibility study (DFS) of its high purity alumina (HPA) project. Today’s update replaces the DFS update that FYI Resources released on 31 March, which it said investors should no longer rely upon.

The new DFS estimates the net present value…