Ann: VRX Silica Company Update, page-10

Okay so theres a lot to unpack here... I'll just make a quick comment about the Offtakes.

I completely understand the potential offtake companies requesting a bulk sample (50-60kg) of VRX's resources. Australia is yet to become an established Silicon Sands markets and these Asian countries, whom I add are extremely professional and conservative in their dealings, would want to ensure that they are of the highest quality that they are after. I would say that BOM has almost signed a deal with 2-4 companies and the signing is just contingent on these furnace testings. Given we already know that we have some top quality sand I would say there wouldn't be many issues here.

The mere fact that these companies aren't signing a deal on the small parcels previously provided makes me think that we are playing with some of the big boy manufacturers here... they can afford to take it slow and make sure they're getting only the best. Yes, sand supplies across the world are rapidly dwindling yet the dominant companies wouldn't just stress and sign 'any deal'. They're the dominant players because they produce the best... and VRX is there to supply them

Exactly unsure how long this would take but my guess is next 1 month or so...