On a red market day, I'm just going to drop a few observations about recent news drops from some of our peers in the silica space, to help you feel a bit warmer and fuzzier about parking your hard-earned's here with $VRX;
$ASQ. Plans to export hampered by non-availability of port space at Kwinana until at least 2023.
$CRB. Despite having tenements at Muchea to develop, this quarter have acquired a small holding in FNQ, depleting cash, diluting stock, and distracting management (these guys have form in that regard, until recently being the front for an iron ore play, before pivoting to silica)
$MLM. Another mob distracted by an acquisition this quarter (Copper/Gold) despite having a high quality silica tenement. Could this be a distraction from the long/expensive/improbable path to export production they are looking at?
$DRX . Whilst these guys have held the line on the silica focus, and at least have an environmental application in the QLD EPA sausage machine, their schedule and cost to get to production remains cloudy. On top of that, they have just 6 months cash remaining at the current burn rate. A CR would be likely before September, I'm guessing.
$SUV. Cashed up, even though a recent SPP was less than stellar - the SP dropped well below the SPP price, making it a better option to buy on market. They started the year acquiring a tenement next door to our Muchea land, which now means they parallel us in two locations. At their AGM last year, the vibe very much was one of them working in the background to see how VRX progressed, before submitting thier own EPA application, so it could be some time before they are producing.
$PEC. No real news here, other than they too are getting low on cash. 6 months remaining. CR for them, too?
$APS. The new kid on the block. 20c IPO, currently sitting at 15c. They have the distinction of being a junior with an environmental group's target already on their back the day they listed. If you think approvals in Muchea will be difficult, I'm guessing the ones for the area around Manjimup will be diabolical...
TL
R Life wasn't meant to be easy. But despite Cinnabon still being unable to tell a decent narrative, $VRX remain focussed on Silica, remain first movers in the EPA approval space, have a logistics expert on our BoD, and we have cash in the bank.
Patience, grasshoppers.
DYOR - Bring the receipts - GLTAH
