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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: 0.15 AUD

ASX:VRX
Market: ASX
Market Cap: $60.65 m
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Full interview: VRX Silica Ltd announces BFS and maiden ore reserve for...

VRX Silica Limited (ASX:VRX) managing director Bruce Maluish updates Proactive Investors on the details of its bankable feasibility study (BFS) and maiden probable ore reserve estimate at its Arrowsmith North Silica Sand Project in WA. Maluish said the BFS demonstrated exceptional financial...

on 30/8/19

2 min read