VRX Silica (ASX: VRX) today published an updated Bankable Feasibility Study (BFS) for its Arrowsmith North silica sand project located 270km north of Perth, WA.
The initial BFS prepared in August 2019 has been updated following detailed engineering with all capital and operating components recently re-tendered.
HIGHLIGHTS
- Updated BFS demonstrates robust financial metrics for a World-class silica sand project
- Ungeared NPV10 of $167m based on 25 years mining of a +100 year Resource
- Proved and Probable Ore Reserve of 221Mt @ 99.5% SiO2
- Four products for international foundry and glassmaking industries
- Environmental approvals process nearing completion and VDT trials to commence
VRX Managing Director Bruce Maluish said:
“The updated BFS confirms that the Arrowsmith North project maintains robust economic metrics that will potentially supply up to four silica sand products for a growing Asian market.
“The capex update incorporates final engineered equipment and supporting infrastructure as well as the purchase of offset land required to finalise the approvals process. The opex update is based on budgeted estimates by noted contractors and incorporates our unique VDT rehabilitation methodology.
“With a Proved and Probable Ore Reserve of 221Mt @ 99.6% SiO2, and a potential mine life in excess of 100 years, Arrowsmith North remains a World-class silica sand project.”
