VRX Silica Ltd. (VRX) AI Stock Analysis

• Market Cap: AU$50.59M
• Dividend Yield: N/A
• Average Volume (3M): 395.06K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.44
• Revenue Growth: N/A
• EPS Growth: 36.62%
• Country: AU
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): >-0.01
• Shares Outstanding: 778,330,500
• 10 Day Avg. Volume: 562,229
• 30 Day Avg. Volume: 395,060
• PEG Ratio: 0.48
• Price to Book (P/B): 2.93
• Price to Sales (P/S): 570.52
• P/FCF Ratio: -20.26
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 43 Neutral
• Price Target: AU$0.06 ▼(-11.43% Downside)

VRX Silica Ltd.'s overall score is primarily impacted by its financial performance, which shows strong revenue growth but significant challenges in profitability and cash flow. Technical analysis indicates bearish momentum, and valuation metrics reflect unprofitability. The absence of earnings call data and corporate events limits additional insights.

Positive Factors

Strong revenue growth

240.24% top-line growth in the latest year indicates strong demand or successful project progression; over 2–6 months this supports continued scaling of resources and commercial traction, improving feasibility of moving from exploration toward revenue-generating operations if execution continues.

Conservative leverage / balance sheet

The relatively low debt-to-equity ratio points to conservative leverage and financial flexibility. Over the medium term this reduces refinancing pressure while projects advance, preserves capacity to raise development capital on better terms and lowers near-term solvency risk during construction phases.

Exposure to durable industrial end-markets

Targeting high-grade silica for industrial and specialty markets (such as glass) aligns the business with durable, diversified end-demand. This structural positioning can support premium pricing, stable offtake opportunities and long-term revenue resilience as projects progress to production.

Negative Factors

Negative operating and free cash flow

Operating and free cash flows are negative and declining, meaning the company cannot internally fund development or operations. Structurally this forces reliance on external financing, increasing dilution or debt risk and constraining the ability to complete permits, build infrastructure, or respond to cost overruns.

Persistent unprofitability / negative margins

Despite strong revenue growth, persistent negative EBIT and net income margins show core operations are not yet profitable. This structural inefficiency undermines cash generation, weakens lender and investor confidence and requires material cost reduction or higher realized prices to achieve sustainable project economics.

Project execution and commercialization risk

The business model requires advancing projects through approvals, financing, construction and then securing sales; absent current operating revenues, named offtakes or material partnerships this creates structural execution and commercialization risk and extends the timeline to durable cash flows and margins.

VRX Silica Ltd. Business Overview & Revenue Model

Company Description

VRX Silica Limited, together with its subsidiaries, engages in the exploration, evaluation, and development of mineral properties in Australia. The company explores for silica. It owns 100% interests in the Arrowsmith and the Muchea silica sand projects located to the north of Perth in Western Australia; and the Boyatup silica sand project located to the east of the port town of Esperance. The company was formerly known as Ventnor Resources Limited and changed its name to VRX Silica Limited in December 2018. VRX Silica Limited was incorporated in 2010 and is headquartered in West Perth, Australia.

How the Company Makes Money

VRX Silica generates revenue primarily through the sale of high-quality silica sand products. The company has established key revenue streams by securing supply agreements with customers in the glass and construction industries, which are significant consumers of silica sand. Additionally, VRX Silica may also benefit from partnerships with industrial manufacturers who require silica for specialized applications, such as the production of silicon-based products. The company's financial performance is influenced by the demand and pricing for silica sand in global markets, as well as its operational efficiency and capacity to scale production to meet customer needs.

VRX Silica Ltd. Financial Statement Overview

Summary

VRX Silica Ltd. shows strong revenue growth but struggles with profitability and cash flow. The low debt-to-equity ratio provides financial stability, but negative margins and cash flows highlight operational inefficiencies.

Income Statement

VRX Silica Ltd. has shown significant revenue growth of 240.24% in the latest year, indicating strong top-line expansion. However, the company continues to face challenges with profitability, as evidenced by negative EBIT and net income margins. The consistent negative margins suggest ongoing operational inefficiencies and cost management issues.

Balance Sheet

The company's balance sheet shows a relatively low debt-to-equity ratio, suggesting conservative leverage and financial stability. However, the negative return on equity indicates that the company is not generating profits from its equity base, which could be a concern for investors looking for returns.

Cash Flow

VRX Silica Ltd. has experienced a decline in free cash flow growth, and both operating and free cash flows remain negative. The negative cash flow ratios indicate challenges in converting revenue into cash, which could impact the company's ability to fund operations and growth without external financing.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	102.41K	102.41K	31.51K	113.48K	56.90K	1.36M
Gross Profit	25.58K	102.41K	-116.44K	4.53K	-27.63K	1.29M
EBITDA	-2.93M	-2.83M	-3.83M	-4.93M	-4.94M	-1.02M
Net Income	-3.06M	-3.06M	-4.26M	-5.06M	-5.03M	-1.09M
Balance Sheet
Total Assets	20.65M	20.65M	19.17M	18.56M	22.91M	20.88M
Cash, Cash Equivalents and Short-Term Investments	4.10M	4.10M	2.31M	1.58M	9.31M	10.44M
Total Debt	247.46K	247.46K	337.22K	418.16K	188.19K	255.24K
Total Liabilities	698.85K	698.85K	1.10M	1.02M	1.52M	829.09K
Stockholders Equity	19.95M	19.95M	18.07M	17.54M	21.39M	20.05M
Cash Flow
Free Cash Flow	-2.88M	-2.88M	-4.85M	-7.77M	-5.51M	-3.04M
Operating Cash Flow	-2.86M	-2.86M	-3.56M	-2.93M	-1.94M	-1.51M
Investing Cash Flow	44.27K	44.27K	-406.60K	-4.72M	-3.56M	-1.53M
Financing Cash Flow	4.60M	4.60M	4.70M	-72.99K	4.37M	10.88M

VRX Silica Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.07
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:VRX, the sentiment is Negative. The current price of 0.07 is above the 20-day moving average (MA) of 0.07, below the 50-day MA of 0.07, and below the 200-day MA of 0.09, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 25.86 is Positive, neither overbought nor oversold. The STOCH value of -48.15 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:VRX.

VRX Silica Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
CZR	48 Neutral	AU$82.61M	-4.52	-103.22%	―	―	-278.88%
ARN	46 Neutral	AU$107.59M	-3.19	-253.52%	―	―	-971.43%
DRX	46 Neutral	AU$87.64M	―	-0.27%	―	―	-100.00%
MTH	45 Neutral	AU$83.15M	-12.54	―	―	―	54.26%
VRX	43 Neutral	AU$50.59M	-14.44	-16.10%	―	―	36.62%

VRX Silica Ltd. Corporate Events

VRX Silica Options Lapse, Simplifying Capital Structure

VRX Silica Ltd has notified the market that 10 million options (ASX code: VRXAY), exercisable at $0.20 and expiring on 31 December 2025, have lapsed without being exercised. The expiry of these options reduces the company’s pool of outstanding convertible securities, slightly simplifying its capital structure and removing a potential source of future share dilution for existing shareholders.

The most recent analyst rating on (AU:VRX) stock is a Hold with a A$0.08 price target. To see the full list of analyst forecasts on VRX Silica Ltd. stock, see the AU:VRX Stock Forecast page.

VRX Silica Names Veteran Miner Tony Swiericzuk as New CEO in Leadership Transition

VRX Silica has implemented a succession plan for its chief executive role, with long-serving Managing Director Bruce Maluish to step down from his current position in 2026 and transition to a Non-Executive Director role. The company has appointed experienced mining executive Tony Swiericzuk as its new CEO, initially joining part-time from February 2026 before moving to the role full-time by July 2026, bringing more than 30 years of operational, project development and stakeholder engagement experience across multiple commodities. VRX’s board highlighted that Swiericzuk’s track record in taking large-scale mining projects into production positions the company to move from explorer to producer, particularly as it advances its Arrowsmith North silica sand project toward production and progresses development at Muchea, signalling a pivotal leadership shift aimed at strengthening execution capability and enhancing its competitive position in the emerging high-purity silica sand market.

The most recent analyst rating on (AU:VRX) stock is a Hold with a A$0.08 price target. To see the full list of analyst forecasts on VRX Silica Ltd. stock, see the AU:VRX Stock Forecast page.

VRX Silica Ltd. Raises Over $2 Million Through Share Issuance

VRX Silica Ltd. has successfully raised $2,050,400.02 through the issuance of 28,477,778 fully paid ordinary shares at $0.072 per share to sophisticated investors. This capital raise, conducted without the need for disclosure under specific sections of the Corporations Act, signifies the company’s ongoing compliance with relevant legal provisions and supports its strategic financial positioning.

The most recent analyst rating on (AU:VRX) stock is a Hold with a A$0.08 price target. To see the full list of analyst forecasts on VRX Silica Ltd. stock, see the AU:VRX Stock Forecast page.

VRX Silica Ltd. Announces Quotation of New Securities on ASX

VRX Silica Ltd. has announced the quotation of 28,477,778 ordinary fully paid securities on the ASX, as part of transactions previously disclosed to the market. This move is expected to enhance the company’s capital structure and potentially strengthen its market position, benefiting stakeholders by increasing liquidity and financial flexibility.

The most recent analyst rating on (AU:VRX) stock is a Hold with a A$0.08 price target. To see the full list of analyst forecasts on VRX Silica Ltd. stock, see the AU:VRX Stock Forecast page.

VRX Silica Ltd Announces Proposed Securities Issue

VRX Silica Ltd has announced a proposed issue of 28,477,778 ordinary fully paid securities, scheduled for December 2, 2025. This move is part of a placement or other type of issue, aimed at raising capital to support the company’s operations and strategic initiatives, potentially impacting its market positioning and stakeholder interests.

VRX Silica Secures $2.1 Million for Arrowsmith North Project

VRX Silica Ltd. has successfully raised $2.1 million from sophisticated and professional investors to support the development of its Arrowsmith North Silica Sand Project. The capital will be used to finalize pre-construction planning and provide flexibility for acquiring long lead plant items, enhancing the company’s operational capabilities and market positioning.

VRX Silica Initiates Trading Halt for Capital Raising

VRX Silica Ltd. has requested a trading halt on its securities as it prepares to undertake a capital raising initiative. This pause in trading is intended to provide the company with the necessary time to formalize the capital raising process, with trading expected to resume by 25 November 2025 or upon the release of further announcements. The move is part of VRX’s strategic efforts to strengthen its financial position and support its operational goals.

VRX Silica Ltd. Shareholders Show Strong Support at AGM

VRX Silica Ltd. held its Annual General Meeting on November 20, 2025, where shareholders voted on several resolutions. The results indicated strong support for the company’s proposals, including the re-election of directors and the issuance of options to key personnel. These outcomes suggest continued confidence in the company’s strategic direction and leadership, potentially reinforcing its market position and stakeholder relations.

VRX Silica Ltd. Reaffirms Commitment Amidst Industry Challenges

VRX Silica Ltd. held its 2025 Annual General Meeting, emphasizing the importance of silica sand in global growth. The company reiterated its commitment to its existing mineral resource estimates and production targets, indicating stability in its operational plans. The release also highlighted the inherent risks in mineral exploration and the uncertainties associated with forward-looking statements, advising stakeholders to exercise caution.