VRX have 3 projects that are company-making size. The tenements are expected to be >100 year mine life.
VRX have completed Bankable Feasibility Studies (BFS) for all 3 projects. The BFS' are based on a 25 year mine life:
Arrowsmith North - BFS Link
Arrowsmith Central - BFS Link
Muchea -BFS Link
The resource quality has been found to be significantly better than first expected. This lead to a Mineral Resource Estimate upgrade
- Source:Arrowsmith Central Mineral Resource Estimate Upgrade
Argonaut gave a risked share price rating of 40c (risked = no mining leases granted, no native title claims agreements, no environmental) and a health 89c de-risked
- source:https://vrxsilica.com.au/assets/VRX-Silica-VRX-Sands-of-time-Snapshot-SPEC-BUY-0.40-TP.pdf
De-Risk Events
Arrowsmith leases are imminent as the company (VRX) and the Native Title claimants (YMAC) has agreed and conclusively registered an Indigenous Land Use Agreement (ILUA) on 26th October 2020
- Source:Update on Mining Leases for Arrowsmith Silica Sands Projects
Muchea mining lease has been granted on 26th October 2020
Source: Minedex
Source: DMIRS
Additional supporting information
Recent Investor Update Presentation
- source:Investor Presentation
Points to note:
- Granting of leases will finalise fixed price agreements
- Offtake agreements for financing
Outlook is good!
