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clock Created with Sketch. 04/09/19
09:36
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Originally posted by 75fj40:
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Tuesday, 3 September 2019VRX Silica LtdSands of timeAnalysts | Matthew Keane | James WilsonQuick ReadVRX Silica Ltd (VRX) has released a Bankable Feasibility Study (BFS) and maiden Ore Probable Reserve for its Arrowsmith North Silica Sands Project in Western Australia (WA). Reported metrics from the study included a 25 year mine producing ~1.8Mtpa clean silica sand generating a post-tax NPV10 of $242.3m and a 79% IRR. Pre-production capex is low at just $28.3m. The project is technically simple incorporating free-digging of dune sands and mechanical processing to remove impurities. Arrowsmith North is the first of three potential silica sand projects in WA, for which VRX has lodged three Mining Lease Applications, including the Arrowsmith Central and Muchea projects. We regard environmental permitting and offtake contracting to be the biggest risks to the projects, however the environmental approval process is progressing and the Company has received several Letters of Intent (LOI) for product offtake. SPEC BUY recommendation
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The report reads very well but again the market is not tuned into Silica sand, if this report came out for a telco or energy stock the sp would already be up around 0.40 This is going to be one of those stocks that is required to show dollars coming in the door and then it will be talk of the town.
