VRX 0.00% 2.7¢ vrx silica limited

top up, page-3

  1. 1,011 Posts.
    I just think the market does not get it, but does represent real value again.

    Perhaps more people should read the latest Company Announcement and get a handle on where this is in the market place. Whilst it may not (on the face of it) be a Mt Isa, the economics certainly on a pound for pound basis are more attractive, with a Market Cap now, below $50m and the prospects of a potential production by 4Q 2014.

    It is detailed where all approvals are anticipated to be in place by 4Q 2013 following a BFS in the first half of 2013.

    With a CAPEX for an assumed 1MTPA Processing Plant of $70M (which is relatively cheap) and, a "Back of Envelope" OPEX of $82/MT based on a 500KTPA production they rightly claim that the project has been "significantly de-risked". All of this with the potential topping up from the further assays and, deeper drilling.

    Maybe someone else should do the sums to work out what the "in ground" value of >100,000 tonnes of copper and >560,000 ozs of silver is worth. It sure as hell is worth a lot more than the market cap at the moment.

    It is now time for the company to get a road show going to the insto's as the punters are killing it.
 
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