VRX continues strong run

SHARES in VRX Silica added another 26% today after the company signed a Chinese agreement.
VRX continues strong run VRX continues strong run VRX continues strong run VRX continues strong run VRX continues strong run

Ventnor's Muchea project in WA

Staff reporter

A memorandum of understanding was signed with China Southern Glass to form a strategic alliance over the Muchea silica sand project, 50km north of Perth.

The six-month MoU will consider marketing and sales, finance and the potential for a glass manufacturing facility in Western Australia.

Muchea has a resource of 208 million tonnes at 99.6% silica.

Earlier this week, the company increased the resource for its Arrowsmith North project, 270km north of Perth, by 398% to 771Mt at 98% silica.

The company is working on bankable feasibility studies and reserve estimates for both projects.

VRX shares jumped by 21% on Tuesday and were up 26% today to A14.5c. The stock opened the year at 13c but dropped to as low as 5.5c in May.