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VRX Silica Ltd. ( (AU:VRX) ) just unveiled an update.
VRX Silica Ltd. has entered into a conditional binding contract to purchase the Arramall farm site, adjacent to its Arrowsmith North Silica Sand Project. This acquisition is expected to significantly reduce capital and operating expenditures and minimize the environmental footprint of the project. The site is strategically located for the construction of a silica sand processing plant and a potential solar farm, which could further enhance sustainability efforts. The company has secured binding offtake contracts for the sale of silica sand to major Asian markets and is in discussions with potential debt financiers to support project financing.
More about VRX Silica Ltd.
VRX Silica Ltd. is a company engaged in the mining and processing of high-quality silica sand, with projects located in Western Australia. The company focuses on supplying silica sand to the foundry, container glass, and flat-glass markets in Asia. VRX is also exploring opportunities in geothermal energy and other silica sand projects in Australia.
Average Trading Volume: 622,433
Technical Sentiment Signal: Hold
Current Market Cap: A$71.99M
Learn more about VRX stock on TipRanks’ Stock Analysis page.