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Ventnor Resources shareholders approve name change to VRX Silica Ltd

The company is developing its Arrowsmith and Muchea silica sands projects.

Location map with silica sands projects marked
The ASX ticker code VRX will remain the same

Ventnor Resources Ltd (ASX:VRX) shareholders have voted in favour of changing the company's name to VRX Silica Ltd as of today.

The company believes the new name better reflects its objective of becoming a large-scale supplier of silica sand to the global market.

The new name of VRX Silica Ltd removes any ambiguity as to the commodity in which the company is specialising and will be easily identified by international customers and potential clients.

READ: Ventnor Resources appoints international sales manager to enhance silica sand export plan

Last month, VRX posted a maiden mineral resource estimate for its Muchea Silica Sand Project, 50 kilometres north of Perth.

The resource estimate was independently undertaken by CSA Global and found the deposit had a total indicated and inferred mineral resource of 191 million tonnes at 99.6% silicon dioxide.

The company is focusing on Asian silica sand markets which have the largest share of global demand and will see growth of around 6% in 2018.

 

Quick facts: VRX Silica Ltd

Price: 0.285 AUD

ASX:VRX
Market: ASX
Market Cap: $143.82 m
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VRX Silica now focused on locking in offtake following granting of mining leases

VRX Silica Ltd's (ASX:VRX) Bruce Maluish speaks to Proactive's Andrew Scott after announcing they've been granted the mining leases for its Arrowsmith North Silica Sand Project and Arrowsmith Central Silica Sand Project, around 270 kilometres north of Perth, Western Australia. Arrowsmith North...

on 18/11/20

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