VRX Silica Limited
VRX: Annual Report to shareholders
VRX Silica Limited reported a transformational year with significant progress on its Arrowsmith North silica sand project, including securing State environmental, works, and mining approvals, purchasing the adjacent Arramall farm, and signing binding offtake agreements for 960,000 tonnes per annum. An updated BFS confirmed strong financial outcomes with a post-tax ungeared NPV8 of A$179.2 million. The company also received State Government support for a land swap at its Muchea project, increasing high-grade silica sand volume, and completed several equity capital raises. However, the mineral resource and ore reserve estimates remain unchanged from the previous year, and a silica flour program was paused due to unfavorable economics.