The mode conversion of the fast compressional Alfvin wave to the ion hybrid wave is analyzed with particular reference to a plasma with two ion species present in approximately equal proportions. Two configurations are considered, the first referring to the usual resonance-cutoff case and the second to a cutoff resonance cut off situation. The optimum conditions for maximising the mode converted energy are given. The second order fast wave equation is generalised to include the effect of the parallel electric field. Hence, all ion and electron loss mechanisms for the fast wave are incorporated, including mode conversion at the two-ion hybrid resonance. The significance of the approximate equality of the two ion species concentrations is that the mode converted ion hybrid wave is damped only by the electrons. The damping of the ion hybrid wave is described with the aid of the local dispersion relation and by means of a toroidal ray tracing code. In particular, the ray tracing calculation shows that the mode converted energy is totally absorbed by the electrons close to the two-ion hybrid resonance. The generalised fast wave equation is solved to determine how much energy is lost from the fast wave, incident from the low field side, before it enounters the two-ion hybrid resonance. For comparable concentrations of the two ion species, the mode converted power can be separated from the power directly absorbed by the ions and electrons from the fast wave. This allows the conditions to be ascertained under which strong electron heating through mode conversion dominates the direct dissipation of the fast wave.