FYI Resources Ltd has changed its name to Cadoux Ltd (ASX:CCM), a move it says will better “articulate our core values and strategic direction while signalling the commencement of our exciting critical minerals future”.
The company has undertaken a long and extensive corporate journey under its legacy banner of FYI Resources.
Under this name, the company established a strong platform for a critical minerals development strategy that had its genesis in a wheatfield near a small regional town in Western Australia called Cadoux.
Decisive rebranding
With the company on the threshold of a new phase of growth and development, it believes a decisive rebranding is appropriate to better articulate its core values and strategic direction.
It said: “Drawing inspiration from the rich landscape and the origin of our high purity alumina project at the locality where the successful process technology was incubated, we have chosen the name ‘Cadoux’ to take the company forward into our next development phase.”
Shareholders endorse change
The new name, which has been endorsed by shareholders at the AGM on November 28, 2023, has similar motivational ambitions to several other assumed company names derived from places and landmarks such as Woodside, Fortescue (ASX:FMG), Rio Tinto (ASX:RIO) and BHP (ASX:BHP).
“We have bold aspirations to grow and reach the same level of success as these highly accomplished companies,” the company said.
“Embracing our roots and reflecting our commitment to community, sustainable practices and innovation, our shareholders have endorsed the name change and we now look forward to delivering on our corporate objectives of building shareholder value by becoming a critical minerals producer.”