VRX Silica’s (ASX:VRX) projects mark a spot in Austrade Critical Minerals Prospectus - Kalkine Media

Highlights:

• VRX Silica's (ASX:VRX) Arrowsmith North and Muchea Silica Sand projects have been included in the Australian Critical Minerals Prospectus for 2022.
• The esteemed prospectus entails data on Australia's critical mineral projects.
• VRX believes the inclusion will promote its silica sand products to foreign investors and potential buyers.

VRX Silica Limited (ASX:VRX) is basking in the glory of being recognised by the Australian Government.

In a positive turn of events, two of the company’s projects have been included in the Australian Critical Minerals Prospectus for 2022. The Arrowsmith North and Muchea Silica Sand projects of the ASX-listed pure-play silica sand exploration and development company are now part of the esteemed prospectus published by Austrade.

The projects are part of the company’s world-class and high-grade silica sand portfolio in Western Australia.

The Prospectus: facilitating investment into Australia’s critical mineral projects

The prospectus, which includes technical, commercial, and geological data for facilitating investment into Australia’s identified critical mineral projects, was launched in Sydney by Senator The Hon. Don Farrell, Minister for Trade and Tourism.

As critical minerals have been gaining strong traction, the prospectus plays a significant role in marketing opportunities in the Australian market. To date, the prospectus has received significant recognition among interested foreign investors, Australian corporates, and the Australian government.

This is what VRX Managing Director Bruce Maluish commented

(Source: Company update, 16 December 2022)

VRX enjoying strong interest from silica sand potential buyers

VRX has also highlighted that the company has been grabbing a continued strong interest from potential buyers of silica sand from its projects.

For pursuing the offtake opportunities, the company is engaging with parties that have received samples of products from its Arrowsmith North and Muchea for offtake terms.

Arrowsmith North Project – VRX considers Arrowsmith North a near-term development opportunity, with production expected to commence in 2023. Sitting 270km north of Perth, this project is estimated to hold 221Mt Ore Reserve @99.7% SiO₂.    

Muchea Silica Sand Project – This world-class Western Australian project is located 50km north of Perth. It covers two granted and one under-application exploration licence along with one granted mining lease. The company highlights that a bankable feasibility study has demonstrated outstanding financial metrics.

Share price: VRX shares last traded at AU$0.130 on 15 December 2022. The company’s market capitalisation stood at AU$72.85 million.