THE BOURSE WHISPERER: VRX Silica (ASX: VRX) declared it has received strong interest for the purchase of large tonnages of silica sand products from the company’s two Arrowsmith silica sand projects and its Muchea silica sand project north of Perth in Western Australia.
VRX Silica released Silica Sand Product Catalogues for silica sand products capable of production from the Arrowsmith and Muchea projects in February.
These included two products from each of Arrowsmith and Muchea for the glassmaking industry and four products from Arrowsmith for the foundry industry.
The company has identified numerous markets in the Asia-Pacific region and has met with several potential offtake customers for the sale of silica sand products from Arrowsmith and Muchea.
VRX Silica indicated it will be able to commit to binding offtake agreements following the approval of Mining Permits at its silica sand projects.
“We are encouraged by the strong interest for silica sand products from our Arrowsmith and Muchea projects, and the fact that this has arisen in the brief time since our testwork determined product types and the distribution of our Silica Sand Products Catalogue to potential customers across the Asia-Pacific region,” VRX Silica managing director Bruce Maluish said in the company’s announcement to the Australian Securities Exchange.
“We expect to receive further enquiries for silica sand products and will look to progress this strong interest into binding offtake agreements before committing to funding arrangements for processing plant requirements.”