Another positive BFS for VRX
PERTH (miningweekly.com) – A bankable feasibility study (BFS) into the Muchea silica sands project, in Western Australia, has estimated that the project would require a capital investment of A$32.82-million to support a two-million-tonne-a-year operation.
ASX-listed VRX Silica on Friday announced that based on the targeted production rate of 48.3-million tonnes over the initial 25-year mine life, the Muchea project would generate a post-tax net present value of A$337.9-million and earnings before interest and tax of A$1.54-billion.
Along with the completion of the BFS, VRX also estimated a maiden probable ore reserve of 18.7-million tonnes, at 99.9% silicon dioxide, with 14.6-million tonnes of this reserve contained within the mining lease application for Muchea.
“This reserve estimate is only a small portion of the silica sand inferred resource estimate for the project but produces a very high-grade product which is in high demand in specialist Asian markets,” said VRX MD Bruce Maluish.
“We have already had significant interest in the Muchea product that will command higher prices than products from our Arrowsmith North and Central silica sands projects.
“Muchea is a world-class high-grade silica sands project which can support a substantial export industry for Western Australia, providing benefits to the state and the Muchea-Gingin district.”
VRX previously released a BFS into the Arrowsmith Central silica sand project, which found that the project would require a capital spend of A$25.8-million to produce 39.6-million tonnes of silica sand over an initial 25-year mine life, based on a Joint Ore Reserves Committee-compliant resource of 77-million tonnes.
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