VRX 0.00% 3.1¢ vrx silica limited

Additionally The Cape Flatterty location in in a very...

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    Additionally
    The Cape Flatterty location in in a very environmentally sensitive area inside the Gt Barrier Reef
    Docking at the purpose built by Mitsubishi Cape Flattery mining silica sand loading jetty is restricted by Qld Ports.
    And currently Mitsubishi use it to the maximum allowable number of ships permitted to dock there.
    Overall shipping inside the reef is also restricted by the EPA

    DRX do have great deposits of silica sand.

    But shipping it out will be difficult.
    They have one proposal to load it on barges and send it out and transfer it to waiting ships.
    A double handling exercise.
    The whole coastline is hostile in that area with no other suitable ports
    Cooktown maybe, but the locals are against it.

    The weather up there can be very rough and unsuitable any time making this difficult for ships to anchor.
    And in the cyclone season, impossible to anchor.
    So even if they ultimately get permission to barge sand,
    their shipping would be irregular and intermittent.
    This is a fact, and is not acknowledged in the DRX feasibility calculations
    where the state they will ship sand virtually uninterrupted all year.

    But the do have the former worlds greatest treasurer Wayne Swan as their chairman.
    And although he is very well connected,
    I doubt if he can influence the weather.
    But maybe he can with the Port Authority and EPA

    Ironically the number of shares they have on issue,
    over 3 Billion,
    would be familiar territory for Wayne.

    I hope VRX do get up and running
    because there is a great need for silica sand.

    bendigo
    Last edited by bendigo: 18/12/22
 
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