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VRX Silica Ltd.
(Sydney:VRX)
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Rating:43Neutral
Price Target:
AU$0.04
▼(-48.57% Downside)
Action:Reiterated
Date:06/26/26
The score is mainly constrained by weak financial quality—persistent negative profitability and negative operating/free cash flows outweigh strong revenue growth, despite a relatively low-leverage balance sheet. Technicals also remain bearish with the stock below major moving averages and negative MACD. Valuation provides limited support because the negative P/E reflects ongoing losses and no dividend yield is available.
Positive Factors
Strong Revenue Growth
A sustained 240% revenue increase indicates meaningful demand traction and successful project advancement. For a developer of industrial silica, this top-line expansion supports scaling economics, stronger negotiating power with suppliers/customers, and a pathway toward covering fixed costs as production ramps.
Negative Factors
Persistent Unprofitability
Ongoing negative EBIT and net margins signal the business has not yet reached operational breakeven. Persistent losses erode equity, consume resources, and prolong dependence on external funding, making it harder to demonstrate sustainable returns to investors as projects transition to steady-state production.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
A sustained 240% revenue increase indicates meaningful demand traction and successful project advancement. For a developer of industrial silica, this top-line expansion supports scaling economics, stronger negotiating power with suppliers/customers, and a pathway toward covering fixed costs as production ramps.
Read all positive factors
VRX Silica Ltd. (VRX) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$32.72M
Dividend YieldN/A
Average Volume (3M)395.06K
Price to Earnings (P/E)―
Beta (1Y)0.55
Revenue GrowthN/A
EPS Growth27.87%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding934,829,900
10 Day Avg. Volume562,229
30 Day Avg. Volume395,060
Financial Highlights & Ratios
PEG Ratio0.48
Price to Book (P/B)2.93
Price to Sales (P/S)570.52
P/FCF Ratio-20.26
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
VRX Silica Ltd. Business Overview & Revenue Model
Company Description
VRX Silica Limited, along with its affiliated entities, is primarily engaged in the discovery, assessment, and advancement of mineral resources throughout Australia, with a specific focus on silica. The company possesses complete ownership of key ...
How the Company Makes Money
VRX’s intended revenue model is to generate income by developing silica sand deposits into operating mines and selling processed silica sand to customers (typically under offtake contracts) for use in glass and other industrial markets. In practic...
VRX Silica Ltd. Financial Statement Overview
Summary
Income Statement
40
Negative
Balance Sheet
55
Neutral
Cash Flow
35
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 83.25K | 102.41K | 31.51K | 113.48K | 56.90K | 1.36M |
| Gross Profit | 25.16K | 102.41K | -116.44K | 4.53K | -27.63K | 1.29M |
| EBITDA | -3.34M | -2.83M | -3.83M | -4.93M | -4.94M | -1.02M |
| Net Income | -3.42M | -3.06M | -4.26M | -5.06M | -5.03M | -1.09M |
Balance Sheet | ||||||
| Total Assets | 20.89M | 20.65M | 19.17M | 18.56M | 22.91M | 20.88M |
| Cash, Cash Equivalents and Short-Term Investments | 3.85M | 4.10M | 2.31M | 1.58M | 9.31M | 10.44M |
| Total Debt | 199.18K | 247.46K | 337.22K | 418.16K | 188.19K | 255.24K |
| Total Liabilities | 761.02K | 698.85K | 1.10M | 1.02M | 1.52M | 829.09K |
| Stockholders Equity | 20.13M | 19.95M | 18.07M | 17.54M | 21.39M | 20.05M |
Cash Flow | ||||||
| Free Cash Flow | -3.18M | -2.88M | -4.85M | -7.77M | -5.51M | -3.04M |
| Operating Cash Flow | -3.13M | -2.86M | -3.56M | -2.93M | -1.94M | -1.51M |
| Investing Cash Flow | -371.49K | 44.27K | -406.60K | -4.72M | -3.56M | -1.53M |
| Financing Cash Flow | 2.00M | 4.60M | 4.70M | -72.99K | 4.37M | 10.88M |
VRX Silica Ltd. Technical Analysis
Negative
0.07
Price Trends
0.05
Negative
0.05
Negative
0.07
Negative
Market Momentum
>-0.01
Negative
37.57
Neutral
56.67
Neutral
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 0.04, above the 50-day MA of 0.05, and above the 200-day MA of 0.07, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 37.57 is Neutral, neither overbought nor oversold. The STOCH value of 56.67 is Neutral, 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
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
43 Neutral | AU$32.72M | -8.00 | -17.07% | ― | ― | 27.87% | |
43 Neutral | AU$60.10M | 120.00 | -0.41% | ― | ― | ― | |
43 Neutral | AU$45.49M | 0.83 | 142.67% | ― | ― | ― | |
42 Neutral | AU$42.18M | -14.20 | -4.25% | ― | ― | ― | |
42 Neutral | AU$85.22M | -1.91 | -471.46% | ― | ― | -614.45% |
* Basic Materials Sector Average
AU:VRX
VRX Silica Ltd.
0.04
-0.05
-56.10%
AU:DRX
Diatreme Resources Limited
0.01
>-0.01
-36.84%
AU:MTH
Mithril Resources Ltd
0.23
-0.21
-47.73%
AU:ARN
Aldoro Resources Ltd.
0.36
0.04
14.52%
AU:CZR
CZR Resources Ltd
0.20
-0.04
-16.67%
VRX Silica Ltd. Corporate Events
Concentrated Option Holdings Highlight Key Stakeholder Influence at VRX Silica
Jun 29, 2026
VRX Silica Ltd. has disclosed the composition of its top 20 holders of options expiring on 30 June 2028 with an exercise price of $0.10, showing a relatively concentrated register. These investors collectively hold 23,936,763 options, representing...
VRX Silica Reveals Concentrated Ownership in Options Register
Jun 29, 2026
VRX Silica has detailed the distribution of its options on issue, showing 459 holders collectively owning 44,342,205 units, with the largest parcels concentrated among 82 holders who control more than 80% of the issued capital. The company also hi...
VRX Silica Seeks ASX Quotation for New Options Class
Jun 29, 2026
VRX Silica Ltd has applied for quotation on the ASX of a new class of options, with 44,342,205 securities to be listed. These options are exercisable at $0.10 and will expire on 30 June 2028, expanding the company’s portfolio of listed secur...
VRX Silica director boosts stake through rights issue participation
Jun 29, 2026
VRX Silica director Paul Boyatzis, through his indirect holding via Lesuer Pty Ltd , has increased his stake in the company by participating in a rights issue. The transaction added 600,000 ordinary shares at $0.04 per share and 300,000 options ex...
VRX Silica Issues 8.6 Million Unquoted Options Expiring 2028
Jun 25, 2026
VRX Silica Ltd has notified the market of the issue of 8,582,353 unquoted options, designated VRXAAA, expiring on 30 June 2028. These options form part of a previously announced transaction and are not intended to be quoted on the ASX, reflecting ...
VRX Silica issues 35.8 million unquoted options expiring 2028
Jun 25, 2026
VRX Silica Ltd has notified the market of the issue of 35,759,852 unquoted options, designated VRXAAA and expiring on 30 June 2028. The options, which are not intended to be quoted on the ASX, form part of previously announced transactions and rep...
VRX Silica Raises $2.86m to Advance WA Silica Sand Projects
Jun 24, 2026
VRX Silica has completed a renounceable rights issue, raising $2.86 million before costs through the issue of more than 71.5 million new shares and 35.8 million options, with additional options to be issued to the underwriter. The capital raise at...
WA backs VRX Silica land swap to expand Muchea high-grade sand resource
Jun 22, 2026
VRX Silica has secured formal support from the Western Australian State Government for a land swap at its Muchea Silica Sand Project, which will allow the company to access a substantially larger volume of very high-grade silica sand in areas with...
VRX Silica sets investor webinar to highlight updated Arrowsmith North feasibility study
Jun 8, 2026
VRX Silica Ltd. has invited shareholders and investors to a webinar hosted by CEO Tony Swiericzuk to provide an update on its silica sand projects, with particular emphasis on the updated bankable feasibility study for the Arrowsmith North project...
VRX Silica Opens $6.23m Renounceable Rights Issue to Advance WA Silica Projects
Jun 4, 2026
VRX Silica has opened a renounceable rights issue for eligible shareholders, dispatching a prospectus and personalised entitlement and acceptance forms as the offer period commences. The capital raising is structured as a 1-for-5 issue at $0.04 pe...
VRX Silica Launches $6.23m Entitlement Offer to Advance Silica Sand Projects
Jun 4, 2026
VRX Silica has launched a renounceable pro rata entitlement offer to raise up to approximately $6.23 million, issuing one new share for every five held at $0.04 per share, plus one free option for every two new shares subscribed. The partially und...
VRX Silica Launches $6.2m Entitlement Offer to Advance Silica Sand Projects
Jun 4, 2026
VRX Silica is launching a renounceable pro rata entitlement offer, allowing eligible shareholders in Australia, New Zealand, Germany, and the U.K. to subscribe for one new share for every five held at $0.04, with one free option for every two new ...
VRX Silica Reaffirms Key Assumptions in Updated 2026 Investor Presentation
Jun 3, 2026
VRX Silica has released an updated June 2026 investor presentation outlining the status of its silica sand projects and related mineral resource and ore reserve estimates. The company reiterates that its key project assumptions and technical param...
VRX Silica Begins Trading of Rights for Renounceable Issue
May 31, 2026
VRX Silica has commenced trading of rights under the ASX code VRXR for its previously announced renounceable rights issue, allowing eligible shareholders to trade their entitlements on market from today until 12 June 2026. The rights structure giv...
VRX Silica Plans Issue of 10 Million Options in New Capital Move
May 26, 2026
VRX Silica Limited has notified the ASX of a proposed issue of up to 10 million new options as part of a placement or similar capital-raising structure. The options will have an exercise price of A$0.10 and are scheduled to expire on 30 June 2028,...
VRX Silica launches discounted rights issue to fund key silica sand project works
May 26, 2026
VRX Silica has launched a 1-for-5 renounceable rights issue at $0.04 per share to raise up to $6.2 million, offering a significant discount to recent trading prices and one free option for every two new shares, exercisable at $0.10 by June 2028. T...
VRX Silica’s Updated Arrowsmith North Study Confirms Strong Economics and Long Mine Life
May 26, 2026
VRX Silica has released a further updated Bankable Feasibility Study for its Arrowsmith North silica sand project in Western Australia, confirming strong economic fundamentals for a 25-year mine plan underpinned by a Proved and Probable Ore Reserv...
VRX Silica raises $50,000 through director share issue
May 8, 2026
VRX Silica Ltd. has issued and allotted 694,444 fully paid ordinary shares at $0.072 per share, raising $50,000 before costs in a placement to a company director that was approved by shareholders. The new shares are of an existing quoted class, an...
VRX Silica director boosts indirect stake via shareholder-approved placement
May 5, 2026
VRX Silica has disclosed a change in the securities holdings of managing director Bruce Maluish, detailing an increase in his indirect shareholding. The update was provided to comply with ASX listing rules governing directors’ notifiable int...
VRX Silica Seeks ASX Quotation for 694,444 New Shares
May 5, 2026
VRX Silica Ltd has applied for quotation on the ASX of 694,444 new fully paid ordinary shares, which were issued on 4 May 2026. The application formalises the admission of these securities to trading and marginally expands the company’s list...
VRX Silica shareholders back placement share resolutions at general meeting
Apr 30, 2026
VRX Silica Ltd. reported the outcomes of its general meeting held on 30 April 2026, where shareholders voted on key ordinary resolutions related to prior and new share placements. The company disclosed poll and proxy results indicating strong supp...
VRX Silica Sets April 2026 General Meeting for Shareholders
Mar 30, 2026
VRX Silica Ltd. has called a general meeting of shareholders to be held on Thursday, 30 April 2026, at 11:00am WST at its offices at Suite 9, 110 Hay Street, Subiaco, Western Australia. The notice urges shareholders to read the meeting materials i...
VRX Silica Sets April 30 In‑Person General Meeting With Digital Notice
Mar 30, 2026
VRX Silica has called a general meeting of shareholders to be held in person in Subiaco, Western Australia, on 30 April 2026 at 11:00am AWST. The company is encouraging participation while providing full details of voting procedures, particularly ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.