The FYI (ASX:FYI) share price falls 6% despite new exec hire

The company's shares are reversing yesterday's gains…

| More on:
A stock market chart on a red background with an arrow going down, indicating a falling share price.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The FYI Resources Ltd (ASX: FYI) share price is sinking during afternoon trade despite the company's latest appointment.

At the time of writing, FYI Resources shares are down a sizeable 6.17% to 38 cents apiece. In comparison, the All Ordinaries Index (ASX: XAO) is up 0.18% to 7,781.7 points.

FYI Resources strengthen leadership team

Investors appear unfazed by the company's positive announcement, sending FYI Resources shares to a near 8-month low.

According to its release, FYI Resources advised it has secured the services of Perth-based qualified chemical engineer, Claudio Di Prinzio.

The appointment will see Mr Di Prinzio take up the role of executive manager in the Operations and Technology department. Responsibilities will include representing the company's interest in the joint high-purity alumina (HPA) project development with Alcoa Australia.

In addition, Mr Di Prinzio will be tasked with establishing safety parameters, quality control, and sustainability processes and control procedures.

Mr Di Prinzio brings a wealth of knowledge, having acquired over 30 years of experience in project development management, commissioning and operations management. This relates to a number of different project sizes, commodities and jurisdictions specialising in alumina and battery, as well as critical minerals.

Previously, Mr Di Prinzio's most notable appointments included operations manager for the Kwinana Lithium Hydroxide plant at Tianqi Lithium. Furthermore, he also held the role of acting general manager in Engineering and Asset Management for Rio Tinto Limited (ASX: RIO), and global technology manager at Alcoa Aluminium.

FYI managing director, Roland Hill commented:

The appointment of Claudio to FYI's executive management team, and the HPA joint development team, is key step in the company's goal to guide the HPA project into production. Claudio will play an instrumental role in the project delivery team working in close collaboration with Alcoa. We view Claudio's extensive experience in being invaluable to the project development.

About the FYI Resources share price

Over the past 12 months, FYI Resources have soared more than 120%, with year to date above 50%. The company's share price reached an all-time high of 88.5 cents in early September before some profit-taking occurred.

Based on today's price, FYI Resources presides a market capitalisation of roughly $137.2 million, with approximately 365.87 million shares outstanding.

Should you invest $1,000 in Coles Group Limited right now?

Before you buy Coles Group Limited shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Coles Group Limited wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Resources Shares

Miner holding cash which represents dividends.
Dividend Investing

Invested $8,000 in Fortescue shares 5 years ago? Guess how much passive income you've banked!

Fortescue is popular among passive income investors for paying two fully franked dividends per year, even during COVID.

Read more »

Miner looking at a tablet.
Resources Shares

BHP shares are up 9% in a month. Are they still good value?

Is Australia’s largest miner a big opportunity?

Read more »

Three miners wearing hard hats and high vis vests take a break on site at a mine as the Fortescue share price drops in FY22
Resources Shares

Did you catch what happened with the big 3 ASX 200 mining stocks in April?

BHP, Rio Tinto, and Fortescue all reported their latest mining results in April.

Read more »

Miner looking at a tablet.
Resources Shares

After its earnings result, what's Macquarie's price target on Fortescue shares?

Let’s dig into what Macquarie thinks of Fortescue after its quarterly update.

Read more »

Two mining workers on a laptop at a mine site.
Resources Shares

The Mineral Resources share price is down 72% in a year. Time to pounce?

Two top experts ran their slide rules over Mineral Resources shares. Here’s what they found.

Read more »

Miner looking at a tablet.
Resources Shares

Mineral Resources share price shoots 15% higher on third-quarter report

The ASX 200 iron ore and lithium giant has released its 3Q FY25 activities report.

Read more »

Image from either construction, mining or the oil industry of a friendly worker.
Resources Shares

Why Macquarie says this ASX 200 mining stock could rocket 67% in a year

Macquarie forecasts a big potential rebound for this diversified ASX 200 miner.

Read more »

Female miner smiling at a mine site.
Resources Shares

3 reasons why the Fortescue share price could still be a buy

Here’s why I view Fortescue as an opportunity.

Read more »