VRX Silica (ASX: VRX) spent the June quarter advancing its five high-value, long-term silica sand projects in Western Australia, a Tier 1 mining region. The company has multi-decade scale contiguous sand deposits on granted Mining Leases with secure tenure and a combined 1.4 billion tonne Mineral Resource of 99.6% to 99.9% SiO2 grade silica sand.
VRX’s most advanced project is Arrowsmith North. The company’s application for environmental approval is at the Response to Submissions stage, which is VRX’s response to public submissions on the Environmental Review Document for the development proposal.
At the Muchea project, VRX announced assay results for high-grade silica flour produced. The results confirmed that they matched those of the product specifications supplied by VRX and requested by end users.
During the quarter, VRX completed a fully underwritten, renounceable pro-rata entitlement issue that raised $2.5 million.
At June 30, VRX had cash of $2.3 million.
