The cost of mining, washing on site and rehabilitation to produce their direct shipping sand is not expensive Transport and shipping are the main costs and they vary greatly with fuel prices and shipping demand. Releasing the PFS or DFS is not meaningful at this stage. Beneficiation of HPSS for PV solar glass market destined for China is best done at the market because of the risk of Fe contamination at Geraldton and in shipping. They have stated they have visited processing plant manufactures in China with potential offtake partners. Otherwise the sand may need to be reprocessed in China to keep the FeO levels below 100 ppm. There is ample interest is buying the sand but a signed offtake agreement is of no benefit if the price cannot be agreed to.To build a processing plant in China requires a long term contract and product prices that support such a strategy. Indonesia is still exporting large volumes of sand despite the announced ban, so respite may not happen soon IMO.
VRX Price at posting:
4.2¢ Sentiment: None Disclosure: Not Held
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