• Viewed 10,240 times by 3014 users (Last 30 days)
  • print Created with Sketch. Print

Corporate Spotlight

Ventnor (the Company) has been investigating rising demand in Asia-Pacific markets for silica sand, the primary ingredient in glass manufacturing; it is also a main component in concrete construction and used in production of tech metals.
View the full Corporate Spotlight arrow Created with Sketch.

INTERVIEW WITH BRUCE MALUISH

NATIVE TITLE AGREEMENT SIGNED FOR MUCHEA

arrow-down-2 Created with Sketch.


NATIVE TITLE MINING PROJECT AGREEMENT SIGNED FOR MUCHEA SILICA SAND PROJECT

ASX Announcement 31st January 2020


 Highlights: 

  • Formal agreement reached with representatives of the Whadjuk People Native Title Claim Group and SWALSC 
  • Whadjuk People consent to grant of Mining Lease and Miscellaneous Licences for Muchea Silica Sand Project 
  • VRX commences formal process for grant of Mining Lease for Muchea Silica Sand Project 


 VRX Silica Limited (VRX or Company) (ASX: VRX) is pleased to announce that its wholly-owned subsidiary and holder of the Muchea Silica Sand Project (Muchea Project), Wisecat Pty Ltd (Wisecat), has signed a Native Title Mining Project Agreement (Agreement) for the Muchea Project. 


The Agreement has been entered into with the Whadjuk People Native Title Claim Applicants under Application WAD242/2011 (as the authorised representatives of the Whadjuk People Native Title Claim Group) and the South West Aboriginal Land & Sea Council Aboriginal Corporation (SWALSC) in its capacity as agent for the Whadjuk People. 


Under the terms of the Agreement the Whadjuk People give their consent to the grant of the Mining Lease and the Miscellaneous Licences for the Muchea Project within the Native Title claim area and the conduct of silica sand mining operations at the Muchea Project. 


Commenting on the agreement, VRX’s Managing Director Bruce Maluish said, “We are delighted to have reached agreement in good faith with the Whadjuk People and SWALSC. This represents a significant milestone in the development of our Muchea Silica Sand Project.


 He continued, “This Agreement clears the path for grant of the Mining Lease and the Miscellaneous Licences for the Muchea Project.” 


Wisecat has commenced the formal process with the National Native Title Tribunal required for the grant of the Mining Lease by the Minister for Mines for the Muchea Project.


The Agreement also provides for a set of shared long-term objectives for the parties and a range of measures designed to achieve those objectives over the term of the Agreement (being the life of the Muchea Project). 


These include: 

  • The preservation and management of Aboriginal heritage within the Mining Lease area wherever possible pursuant to an agreed Heritage Protocol; 
  • The promotion of awareness of the Whadjuk People’s traditional laws and customs and facilitation of cross-cultural exchange between the members of the Whadjuk People and Wisecat and its employees and contractors; 
  • Ensuring the environmental impact of agreed mining operations is managed in accordance with relevant statutory obligations; 
  • Maximising employment and contracting opportunities for Whadjuk People contractors in connection with agreed mining operations; and 
  • The provision of agreed initial and ongoing compensation to the Whadjuk People for the effects on Native Title arising from the grant of the Mining Lease and Miscellaneous Licences within the Native Title claim area, the conduct of mining operations and the issue of agreed project approvals. 


In addition, the Agreement contains provisions that are customary for an agreement of this nature, including as to confidentiality, warranties, force majeure and dispute resolution procedures. 


CLICK HERE TO READ THE FULL ANNOUNCEMENT


COMPANY PRESENTATION FEBRUARY

arrow-down-2 Created with Sketch.


SILICA SAND, ESSENTIAL TO WORLD GROWTH - COMPANY PRESENTATION FEBRUARY 2020

ASX Announcement 29th January 2020




CLICK HERE TO VIEW THE FULL PRESENTATION

CAPITAL RAISING

arrow-down-2 Created with Sketch.

$4 Million Capital Raising to Accelerate Arrowsmith and Muchea Silica Sand Projects 

ASX Announcement 4 November 2019


Highlights

  • Commitments received for a placement to raise $4 million 
  • Exceptional support from existing shareholders and new sophisticated and institutional investors 
  • Strengthened balance sheet allows VRX to accelerate the development of its Arrowsmith and Muchea silica sand projects


VRX Silica Limited (VRX or Company) (ASX: VRX) is pleased to announce that it has successfully completed a bookbuild to raise $4 million (before costs) through a placement of securities to a range of sophisticated and institutional investors, including existing shareholders and new investors.


Funds raised under the placement will be used to accelerate the advancement of the Company’s Arrowsmith North, Arrowsmith Central and Muchea silica sand projects, including for permitting and approvals, long lead capital items, detailed engineering work, hydro and resource drilling, and for working capital purposes. 


Commenting on the successful capital raising, VRX’s Managing Director Bruce Maluish said, “We are delighted with the strong demand shown by both new and existing shareholders in this placement, including a number of institutional investors.”


“The recent BFSs for our Arrowsmith North, Arrowsmith Central and Muchea silica sand projects demonstrate the world class potential of our projects and the funds raised will allow us to rapidly advance their development.”


The placement will result in the issue of 34,782,610 new fully paid ordinary shares at an issue price of 11.5 cents each. Participants in the placement will also be issued with one option for every two shares subscribed for in the placement exercisable at 18 cents and expiring 18 months from their date of issue. The Company will apply for quotation of the options on ASX subject to meeting ASX listing rule requirements. 


The placement falls within the Company’s current placement capacity under Listing Rule 7.1 and is scheduled to settle on Tuesday, 12 November 2019.


Hartleys Limited (AFSL No 230052) acted as lead manager to the placement.


Click here to view the full announcement

MUCHEA BFS

arrow-down-2 Created with Sketch.

Muchea BFS and Maiden Ore Reserve

ASX Announcement 18 October 2019 


VRX Silica Limited (VRX Silica or Company) (ASX: VRX) is pleased to announce details of its Bankable Feasibility Study (BFS) and maiden Probable Ore Reserve at its Muchea Silica Sand Project (Muchea), located 50km north of Perth, WA, the third BFS for the Company’s three advanced silica sand projects.


Highlights: 

  • Muchea has outstanding financial metrics and is capable of producing very high-grade silica sand products 
  • Ungeared NPV10 of $338 million based on 25 years of a potential mine life of +100 years. Other key BFS outcomes: 



  • Total Probable Ore Reserve of 18.7 Mt @ 99.9% SiO2 with 14.6 Mt @ 99.9% SiO2 in the Mining Lease application area 
  • Studies identify three high-grade high-value silica sand products in high demand in international markets 
  • Full BFS annexed to this announcement 


The Probable Ore Reserve for Muchea totals 18.7 Mt @ 99.9% SiO2 as reported in accordance with the JORC Code 2012 edition1 (JORC Code), with 14.6Mt @ 99.9% SiO2 contained within the area of the Company’s Mining Lease application (M70/1390) for Muchea. This follows the Company’s recent announcement of Probable Ore Reserves for Arrowsmith North and Central.


VRX Silica Managing Director Bruce Maluish said: “This Reserve estimate is only a small portion of the silica sand Inferred Resource Estimate for the project but produces a very highgrade product which is in high demand in specialist Asian markets.” 


“We have already had significant interest in the Muchea product that will command higher prices than products from our Arrowsmith North and Central silica sand projects.”


“Muchea is a world class high-grade silica sand project which can support a substantial export industry for WA providing benefits to the State and the Muchea-Gingin district”.


“Muchea will produce alternative high-grade products to Arrowsmith and will add to our available catalogue of products from our silica sand projects,” said Maluish. 


BFS Summary 

The information in this report refers to the Muchea silica sand project, which is located 50km north of Perth in Western Australia, Figure 1.



Click here to view the full announcement

VIDEOS

arrow-down-2 Created with Sketch.


(20min delay)
Last
10.3¢
Change
0.003(2.50%)
Mkt cap ! $44.51M
Open High Low Value Volume
10.5¢ 10.5¢ 10.2¢ $4.013K 38.48K

Buyers (Bids)

No. Vol. Price($)
6 227672 10.0¢
 

Sellers (Offers)

Price($) Vol. No.
10.5¢ 467051 2
View Market Depth
Last trade - 13.23pm 20/02/2020 (20 minute delay) ?
(live)
Last
10.0¢
  Change
0.003 ( 0.00 %)
Open High Low Volume
10.0¢ 10.0¢ 10.0¢ 26375
Last updated 11.09am 20/02/2020 (live) ?
VRX (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.