Arrowsmith Central a second revenue stream for VRX
PERTH (miningweekly.com) – A bankable feasibility study (BFS) into the Arrowsmith Central silica sand project, in Western Australia, would require a capital investment of A$25.8-million to develop.
ASX-listed VRX Silica on Tuesday told shareholders that the project is expected 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.
The BFS estimated that the project would have a post-tax net present value of A$147.6-million and an internal rate of return of 60%, with earnings before interest and tax estimated at A$737-million while revenues have been estimated at A$2.1-billion.
“Arrowsmith Central is a smaller resource than Arrowsmith North, but has the potential to still be a very long-life project with additional drilling of the inferred resource expected to be sufficient to realise the production target,” said VRX Silica MD Bruce Maluish.
“Arrowsmith Central will produce alternative products to Arrowsmith North, and will add to our available catalogue of products to be produced from our silica sands projects,” he added.
A previously completed BFS into the Arrowsmith North project estimated that it would require a capital investment of A$28.2-million to produce 47.7-million tonnes of silica sand over an initial 25-year mine life.
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