VRX Silica fields interest from three Asian companies for silica sand offtake
VRX Silica Ltd (ASX:VRX) has fielded indicative interest from three different distributors to annually purchase 590,000 tonnes of silica sand from the company's two Western Australian projects.
Three non-binding letters of intent (LOI) have been received for silica sand offtake from a diverse range of silica sand distributors in the Asia-Pacific region with requirements in three different industries.
All three have long-term associations with the silica sand supply sector in the region, which is VRX Silica's primary target market.
VRX Silica, formerly Ventnor Resources, is confident from exploration and test work that it can readily meet the specifications and tonnage sought under the LOIs from its Muchea and Arrowsmith projects.
VRX managing director Bruce Maluish said: "The receipt of these three LOIs supports the company's research that there is significant demand for silica sand products of the type capable of production from the Arrowsmith and Muchea silica sand projects.
"This is a solid foundation for the company's initial aim of establishing demand for more than 1 million tonnes per annum from each individual project area."
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