Announcement • May 05
VRX Silica Limited has completed a Follow-on Equity Offering in the amount of AUD 2.1004 million. VRX Silica Limited has completed a Follow-on Equity Offering in the amount of AUD 2.1004 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 28,477,778
Price\Range: AUD 0.072
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 694,444
Price\Range: AUD 0.072
Transaction Features: Subsequent Direct Listing Reported Earnings • Mar 13
First half 2026 earnings released: AU$0.003 loss per share (vs AU$0.003 loss in 1H 2025) First half 2026 results: AU$0.003 loss per share (in line with 1H 2025). Net loss: AU$2.21m (loss widened 20% from 1H 2025). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. New Risk • Mar 12
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$3.2m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.2m free cash flow). Earnings have declined by 7.7% per year over the past 5 years. Revenue is less than US$1m (AU$130k revenue, or US$93k). Minor Risk Market cap is less than US$100m (AU$50.6m market cap, or US$36.1m). Announcement • Nov 25
VRX Silica Limited has filed a Follow-on Equity Offering in the amount of AUD 2.1004 million. VRX Silica Limited has filed a Follow-on Equity Offering in the amount of AUD 2.1004 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 28,477,778
Price\Range: AUD 0.072
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 694,444
Price\Range: AUD 0.072
Transaction Features: Subsequent Direct Listing Reported Earnings • Sep 27
Full year 2025 earnings released: AU$0.004 loss per share (vs AU$0.007 loss in FY 2024) Full year 2025 results: AU$0.004 loss per share (improved from AU$0.007 loss in FY 2024). Net loss: AU$3.06m (loss narrowed 28% from FY 2024). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Sep 08
VRX Silica Limited, Annual General Meeting, Nov 20, 2025 VRX Silica Limited, Annual General Meeting, Nov 20, 2025. Announcement • Mar 28
VRX Silica Limited has completed a Follow-on Equity Offering in the amount of AUD 5 million. VRX Silica Limited has completed a Follow-on Equity Offering in the amount of AUD 5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 115,476,192
Price\Range: AUD 0.042
Discount Per Security: AUD 0.00252
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 3,571,428
Price\Range: AUD 0.042
Discount Per Security: AUD 0.00252
Transaction Features: Subsequent Direct Listing Reported Earnings • Mar 18
First half 2025 earnings released: AU$0.003 loss per share (vs AU$0.004 loss in 1H 2024) First half 2025 results: AU$0.003 loss per share (improved from AU$0.004 loss in 1H 2024). Net loss: AU$1.85m (loss narrowed 14% from 1H 2024). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 35% per year, which means it is significantly lagging earnings. New Risk • Feb 15
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 27% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 4.7% per year over the past 5 years. Revenue is less than US$1m (AU$32k revenue, or US$20k). Minor Risks Shareholders have been diluted in the past year (27% increase in shares outstanding). Market cap is less than US$100m (AU$25.3m market cap, or US$16.1m). New Risk • Feb 11
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 16% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 4.7% per year over the past 5 years. Revenue is less than US$1m (AU$32k revenue, or US$20k). Minor Risk Market cap is less than US$100m (AU$24.5m market cap, or US$15.4m). Announcement • Dec 10
VRX Silica Limited has filed a Follow-on Equity Offering in the amount of AUD 5 million. VRX Silica Limited has filed a Follow-on Equity Offering in the amount of AUD 5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 115,476,192
Price\Range: AUD 0.042
Discount Per Security: AUD 0.00252
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 3,571,428
Price\Range: AUD 0.042
Discount Per Security: AUD 0.00252
Transaction Features: Subsequent Direct Listing Board Change • Oct 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 3 highly experienced directors. Non-Executive Director David Welch was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Sep 30
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 18% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.8m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 4.7% per year over the past 5 years. Revenue is less than US$1m (AU$32k revenue, or US$22k). Minor Risks Shareholders have been diluted in the past year (7.7% increase in shares outstanding). Market cap is less than US$100m (AU$26.4m market cap, or US$18.3m). New Risk • Sep 27
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$3.8m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.8m free cash flow). Earnings have declined by 4.7% per year over the past 5 years. Revenue is less than US$1m (AU$32k revenue, or US$22k). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (7.3% increase in shares outstanding). Market cap is less than US$100m (AU$17.0m market cap, or US$11.7m). Announcement • Sep 18
VRX Silica Limited, Annual General Meeting, Nov 29, 2024 VRX Silica Limited, Annual General Meeting, Nov 29, 2024. New Risk • May 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 3.5% per year over the past 5 years. Revenue is less than US$1m (AU$53k revenue, or US$35k). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (4.1% increase in shares outstanding). Market cap is less than US$100m (AU$33.3m market cap, or US$22.0m). Announcement • Apr 11
VRX Silica Limited has filed a Follow-on Equity Offering in the amount of AUD 3.141269 million. VRX Silica Limited has filed a Follow-on Equity Offering in the amount of AUD 3.141269 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 37,142,858
Price\Range: AUD 0.07
Discount Per Security: AUD 0.0042
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 7,732,415
Price\Range: AUD 0.07
Discount Per Security: AUD 0.0042
Security Features: Attached Options
Transaction Features: Rights Offering Reported Earnings • Mar 15
First half 2024 earnings released: AU$0.004 loss per share (vs AU$0.005 loss in 1H 2023) First half 2024 results: AU$0.004 loss per share (improved from AU$0.005 loss in 1H 2023). Net loss: AU$2.16m (loss narrowed 18% from 1H 2023). Over the last 3 years on average, earnings per share has fallen by 30% per year whereas the company’s share price has fallen by 31% per year. New Risk • Nov 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$7.8m free cash flow). Earnings have declined by 5.5% per year over the past 5 years. Revenue is less than US$1m (AU$113k revenue, or US$72k). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (4.5% increase in shares outstanding). Market cap is less than US$100m (AU$67.1m market cap, or US$42.5m). New Risk • Sep 29
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$7.8m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$7.8m free cash flow). Earnings have declined by 5.5% per year over the past 5 years. Revenue is less than US$1m (AU$113k revenue, or US$73k). Minor Risks Shareholders have been diluted in the past year (2.6% increase in shares outstanding). Market cap is less than US$100m (AU$65.9m market cap, or US$42.5m). Announcement • Sep 06
VRX Silica Limited, Annual General Meeting, Nov 17, 2023 VRX Silica Limited, Annual General Meeting, Nov 17, 2023. Agenda: To consider election of directors. New Risk • Sep 02
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.6% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 7.7% per year over the past 5 years. Revenue is less than US$1m (AU$110k revenue, or US$71k). Minor Risks Less than 1 year of cash runway based on current free cash flow (-AU$6.7m). Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (2.6% increase in shares outstanding). Market cap is less than US$100m (AU$65.9m market cap, or US$42.5m). New Risk • Jun 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 7.7% per year over the past 5 years. Revenue is less than US$1m (AU$110k revenue, or US$74k). Minor Risks Less than 1 year of cash runway based on current free cash flow (-AU$6.7m). Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (AU$81.3m market cap, or US$54.8m). Reported Earnings • Mar 14
First half 2023 earnings released: AU$0.005 loss per share (vs AU$0.006 loss in 1H 2022) First half 2023 results: AU$0.005 loss per share (improved from AU$0.006 loss in 1H 2022). Net loss: AU$2.62m (loss narrowed 19% from 1H 2022). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 11
VRX Silica Limited Announces an Update to the Mineral Resource Estimate and Ore Reserve Statement for its Arrowsmith North Silica Sand Project VRX Silica Limited announced an update to the Mineral Resource Estimate (MRE) and Ore Reserve Statement (ORS) for its Arrowsmith North Silica Sand Project, located 270km north of Perth. The MRE update is based on an additional 130 close spaced grade control holes1. These holes were drilled as a pre-production activity to increase the resource confidence in the initial years of mining, and to produce a bulk sample for pilot scale metallurgical testwork and the generation of bulk samples for potential offtake partners. The pilot plant testwork of a 3.3 tonne bulk metallurgical composite is complete. In combination with market analysis a suite of 5 saleable products have been determined that will be produced from Arrowsmith North. Process and Engineering design of the proposed Process Plant has been guided by the chemical and physical specifications of these products. The declaration of these five products is used to define the saleable Ore Reserve declared in this Statement. The creation of this proved ore reserve has led to a high confidence schedule of the final products that will be available for sale for the initial 6 years of mining. This will allow for a proactive marketing effort to return the best economic outcomes from the project. Future grade control programs and ore reserve updates will occur within 5 years of the commencement of mining. Drilling over the project area was completed by means of AC and hand auger methods. Auger drilling was completed in 2017 along existing tracks, with drill spacing of 400 m (east) by 1,000 m (north) along the section lines. AC drilling was completed in two stages using a Landcruiser mounted drill rig. Stage 1 drilling was completed in 2019, with holes located on the auger drilling tracks as well as along new section lines, forming an overall nominal 400 m section line spacing with drill holes nominally spaced at 400 m (east) by 400 m (north) over the majority of the modelled area. Stage 2 drilling, also referred to as grade control drilling, was completed in March 2021, with 130 holes drilled for 1,459.1 m. Drilling was completed on a drillhole spacing of 50 m (east) by 100 m (north). AC drilling hole depths range between 3 m and 21 m with an average depth of 10.9 m. All holes were drilled vertically. The 100 mm screw auger drilling samples were taken from 1 m down hole intervals. The sample was sufficiently moist to allow it to cling to the auger screw, with care taken during screw extraction to prevent sample disaggregating from the screw and falling back into the hole. At the end of each 1 m sample run, the screw was removed from the hole and the sand sample deposited into a plastic tub. The samples typically weighed 8 kg. AC drilling samples are 1 m down hole intervals with sand collected from a cyclone mounted rotary cone splitter, and approximately 2-3kg (representing 50% of the drilled sand) was collected. Two sub-samples, A and B, of approximately 200 g were taken from the drill samples. Samples were bagged and ticketed with sample numbers prior to transport to the analytical laboratory. Reported Earnings • Oct 01
Full year 2022 earnings released: AU$0.009 loss per share (vs AU$0.002 loss in FY 2021) Full year 2022 results: AU$0.009 loss per share (further deteriorated from AU$0.002 loss in FY 2021). Net loss: AU$5.03m (loss widened 362% from FY 2021). Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Sep 07
VRX Silica Limited Provides Update on Arrowsmith Central Silica Sand Project VRX Silica Limited provided an update on progress at its 100%-owned Arrowsmith Central Silica Sand Project (Arrowsmith Central), located approximately 270km north of Perth, Western Australia. The Company has completed the test holes for 2 production water bores which will be the source of water supply for the proposed processing plant at Arrowsmith Central. The test holes are targeting 2 potential aquifers at 30 metre and 120 metre depth. Geological and geophysical logging of the holes indicate good potential for high flows of good quality ground water. Neither aquifer is believed to be connected to the superficial water table. Drilling is being undertaken by a licenced water bore driller under an approved Licence to Construct or Alter a Well, CAW207418(1), from the Department of Water and Environmental Regulation (DWER). DWER has accepted the Company's application for an allocation of 900,000 kilolitres. The 5C licence to take water will be applied for once the bores are constructed and logging and test pumping is complete. Announcement • Aug 30
VRX Silica Limited Announces Metallurgical Drill Program at Muchea VRX Silica Limited has commenced a three-day drilling program at its 100%-owned Muchea Silica Sand Project (Muchea), located approximately 50km north of Perth, Western Australia. A tractor-mounted vacuum drill rig will drill a minimum of 100 holes to produce a five-tonne sample to be used in an additional pilot plant metallurgical test work program. The program will determine if selective mining and processing of the differentiated layers, identified in previous test work, can produce a higher-purity product, therefore significantly enhancing Muchea's project economics. The company will also generate further samples for testing following overwhelming interest from potential offtake partners. Muchea Cleared Track: The drill program at Muchea will be undertaken along existing cleared tracks, with an approved Program of Work from the Department of Mines, Industry Regulation and Safety. VRX has previously undertaken an Aboriginal Heritage survey to clear the proposed program area. Representatives of the Whadjuk People will accompany the drill crew. In March 20191, VRX conducted a drilling program of 57 50m-spaced air core holes. This drilling resulted in an updated Mineral Resource Estimate2 of 208 Million Tonnes (29Mt Indicated & 179 Mt Inferred) and a maiden Probable Ore Reserve3 of 18.7 Million Tonnes. Analysis of the 2019 Resource estimates indicated that ore within 5m of the surface was consistently lower in contaminants than deeper material. Prior test work on the full column of ore resulted in a very high-grade silica sand product. The drill program announced will delineate the variation in these layers. Muchea Drill Rig: Separate bulk metallurgical testing will be undertaken on composites representing these layers to determine if a higher-purity product can be produced by selective mining and processing of the differentiated layers. Near-surface, lower-contaminant ore may have the potential to produce a higher-value product, further enhancing the economics of this world- class silica sand project. The drill program will be contained within the current Mineral Resource Estimate area. Announcement • Jun 23
Vrx Silica Limited Announces Update on Arrowsmith Central Silica Sand Project VRX Silica Limited announced that its Arrowsmith Central Silica Sand Project (Arrowsmith Central) has moved to the next stage of the environmental approval process with the Environmental Protection Authority of Western Australia (EPA). Consistent with the EPA's approach at VRX's Arrowsmith North Silica Sand Project and the Company's expectations for Arrowsmith Central, the EPA will assess the proposal at a Public Environmental Review (PER) level of assessment as required under section 40(2)(b) of the Environmental Protection Act 1986. The PER period is four weeks. The Company is preparing an Environmental Scoping Document (ESD) which details the environmental studies that are required to inform the assessment of the project. These include: Flora and Fauna Studies, Dieback Assessment, Surface water and Hydrology Studies, Cultural and Heritage Assessment, Greenhouse Gas estimate, High Level Air Quality Assessment. The Company has already commenced these studies and will finalise prior to the end of the PER period. Preparation of the ESD is a fundamental step in the EPA administration procedures to inform the Environmental Impact Assessment of Arrowsmith Central. The Company is confident the project has addressed the Environmental Principles, Factors and Objectives of the guidelines for assessment. Other government agencies will be restricted from approving any approvals related to the full development of the project until the EPA process is complete (noting exploration and investigations are not restricted). This does not impact upon the Company's current development plans. The EPA's decision will allow the Commonwealth Department of Agriculture, Water and Environment to also set its level of assessment at PER to align with the EPA decision. The Arrowsmith Central mining development area has been selected to avoid environmentally sensitive areas, in particular so that no large trees suitable for Carnaby Cockatoo roosting or nesting are impacted. VRX has developed a unique and progressive mining and rehabilitation method for its silica sand projects. The Vegetation Direct Transfer (VDT) method provides rapid and comprehensive regeneration of mined areas based on continuous rehabilitation as mining progresses. The VDT method is a made-for-purpose mining method which removes and replaces a 400mm-deep sod with topsoil to the mined area containing the vast majority of native flora and invertebrate fauna remaining intact. At the VRX selected mine areas, the root structures in the loose sand are relatively shallow at 200-300mm in depth and ideally suited for the VDT system. The method has been developedto provide the best rehabilitation outcome for the recalcitrant sedges and grass species. Announcement • Mar 29
VRX Silica Limited Announces an Update on Arrowsmith North Water Bore VRX Silica Limited announced that the company has successfully completed the construction and testing of its production water bore at its Arrowsmith North Silica Sand Project (Arrowsmith North). As part of the application for a 5C Licence to Take Water a test production bore and two monitoring bores, a deep and a shallow, have been drilled and constructed on the Arrowsmith North miscellaneous licence L70/199 by Western Drilling. The bores have been constructed to specifications exceeding the Minimal Construction Requirements for Water Bores in Australia and as specified by the Department of Water and Environmental Regulation. The test production bore is screened in the confined Yarragadee Formation Unit A aquifer with the screens installed between 320m and 392m depth. The 250mm FRP casing has been cement grouted from 0 - 300m to prevent ingress of water from other parts of the Yarragadee Formation or the superficial aquifer. The deep monitoring bore has a similar construction to the test production bore with the grouting and screening over similar intervals. The shallow monitoring bore is screened from 18m to 30m in the superficial aquifer. The test production bore was test pumped to determine hydraulic parameters and specific yields for use in the H3 Hydrogeological Assessment computer model. The test pumping was undertaken to AS2368-1990 by Western Irrigation using their mobile test pumping equipment. Initial multi-rate testing was carried out to determine a constant rate test rate. The highest rate of 32L/s yielded a maximum drawdown of 6.12m. Reported Earnings • Mar 17
First half 2022 earnings: EPS exceeds analyst expectations First half 2022 results: AU$0.006 loss per share (down from AU$0.002 loss in 1H 2021). Net loss: AU$3.24m (loss widened 294% from 1H 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 463%. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Announcement • Jan 31
VRX Silica Limited Announces Aboriginal Heritage Surveys Completed for Arrowsmith VRX Silica Limited announced that further Aboriginal heritage surveys have been completed at its Arrowsmith North Silica Sand Project (Arrowsmith North) and Arrowsmith Central Silica Sand Project (Arrowsmith Central), located approximately 270km north of Perth in Western Australia. Two more comprehensive archaeological and ethnographic surveys over proposed mining and critical infrastructure areas were completed over the past four months with representatives of the Yamatji Southern Regional Corporation (YSRC) and SandS CRM personnel. Preliminary advice received by the Company from YSRC confirms that all proposed long-term mining and associated infrastructure areas are clear for the stated works to proceed. These areas include the 360ha Arrowsmith North mine disturbance envelope, allowing for 30 years of mining, and 485ha of the ArrowsmithCentral mine disturbance envelope that will allow for 20 years of mining. The two surveys found no isolated artifacts nor any previously unrecorded suspected Aboriginal archaeological sites. In addition to the heritage surveys, the YSRC and SandS CRM consultants assisted VRX in further understanduing the presence of conservation significant fauna identified by the Company's fauna consultants. The YSRC and SandS CRM consultants were aware of VRX's Native Fauna Manual and asked to identify those species, or significant others not referenced in the Company's manual, that they had encountered during the survey. The Company reported that no priority fauna was identified during the survey, with this outcome to be included in VRX's submissions for regulatory approvals. In addition to the successful review and assessment by YSRC and SandS CRM consultants of the Company's Native Fauna Manual, this exercise will help support the future Ranger Program to be developed by VRX in consultation with YSRC. Board Change • Oct 31
High number of new directors Non-Executive Director David Rolf Welch was the last director to join the board, commencing their role in 2021. Reported Earnings • Sep 30
Full year 2021 earnings released: AU$0.002 loss per share (vs AU$0.005 loss in FY 2020) Full year 2021 results: Net loss: AU$1.09m (loss narrowed 54% from FY 2020). Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Announcement • Jun 30
VRX Silica Limited Provides an Update on Progress At Its Arrowsmith North Silica Sand Project VRX Silica Limited provided an update on progress at its Arrowsmith North Silica Sand Project. The company has commenced drilling of a water production bore which will be the source of water supply for the proposed processing plant at Arrowsmith North. Drilling is being undertaken by a licenced water bore driller, under an approved Licence to Construct or Alter a Well, CAW205840(1), from the Department of Water and Environmental Regulation (DWER). DWER has accepted the company's application for an allocation of 900,000 kilolitres. The 5C licence to take water will be applied for once the bore is constructed, and logging and testpumping is complete. Reported Earnings • Mar 19
First half 2021 earnings released: AU$0.002 loss per share (vs AU$0.003 loss in 1H 2020) First half 2021 results: Net loss: AU$822.1k (loss narrowed 40% from 1H 2020). Announcement • Mar 18
VRX Silica Limited Submits Arrowsmith North EPA Referral VRX Silica Limited announced that it has submitted its referral to the Environmental Protection Authority (EPA), under Section 38 of the Environmental Protection Act 1986, for environmental approval for its 100%-owned Arrowsmith North Silica Sand Project (Arrowsmith North), located approximately 270km north of Perth, Western Australia. The referral is the culmination of wide-ranging environmental studies undertaken by and for the Company over the past three years and extensive pre-referral consultation with the EPA. VRX's Vegetation Direct Transfer (VDT) method lends itself to rapid and extensive regeneration of affected areas based on continuous rehabilitation as silica sand mining progresses. Root structures in the loose sand at Arrowsmith North are relatively shallow at 200-300mm in depth. The VDT method removes a 400mm deep sod, with the topsoil containing the vast majority of native flora and invertebrate fauna preserved and near-surface humus and its microbial contents remaining intact. VRX's referral, which incorporates pre-referral feedback received from the EPA in December 2020 to the Company's draft referral submitted in September 2020, concludes that Arrowsmith North can be developed without significant residual impacts on the environment given the implementation of mitigation measures, in particular the proposed mining and rehabilitation methodology. VRX will use no chemicals and produce no dust while processing the mined silica sand, with efficient attritioning beneficiating the sand to glass-quality product for export. The Company will recycle a substantial proportion of water used in processing, with preliminary engineering work targeting an up to 95% recycling rate and further investigations underway to recycle even more water. Water will be sourced from the deeper Yarragadee North aquifer. All mining will be conducted well above the surficial water table. The Arrowsmith North processing plant will ultimately be powered by a hybrid wind, solar and gas power system to minimise emissions. The Company has already conducted Aboriginal heritage and ethnographic surveys with no significant sites recorded in the proposed mining area. Arrowsmith North will offer employment and contract opportunities to local Indigenous groups and VRX intends to support the local ranger program. The EPA's environmental impact assessment will be conducted as an accredited assessment that will see it also assess the proposal on behalf of the Federal Department of Agriculture, Water and Environment. Is New 90 Day High Low • Mar 09
New 90-day low: AU$0.26 The company is down 6.0% from its price of AU$0.27 on 09 December 2020. The Australian market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 8.0% over the same period. Is New 90 Day High Low • Dec 30
New 90-day high: AU$0.33 The company is up 164% from its price of AU$0.13 on 01 October 2020. The Australian market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 19% over the same period. Is New 90 Day High Low • Dec 03
New 90-day high: AU$0.26 The company is up 143% from its price of AU$0.10 on 04 September 2020. The Australian market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 4.0% over the same period. Recent Insider Transactions Derivative • Nov 30
MD & Director exercised options to buy AU$1.2m worth of stock. On the 25th of November, Bruce Maluish exercised options to buy 5.00m shares at a strike price of around AU$0.072, costing a total of AU$360k. This transaction amounted to 35% of their direct individual holding at the time of the trade. Since June 2020, Bruce has owned 14.31m shares directly. Company insiders have collectively bought AU$792k more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Nov 21
VRX Silica Limited announced that it expects to receive AUD 7 million in funding VRX Silica Limited (ASX:VRX) announced a private placement of 38,888,890 shares at an issue price of AUD 0.18 per share for gross proceeds of AUD 7,000,000 on November 20, 2020. The transaction will include participation from institutional, professional and sophisticated investors. The transaction is expected to close on November 27, 2020. The company will issue shares under existing placement capacity. Announcement • Nov 18
VRX Silica Limited Announces Grant of Mining Leases for Its Arrowsmith North Silica Sand Project and Arrowsmith Central Silica Sand Project, Located Approximately 270Km North of Perth, Western Australia VRX Silica Limited announced the grant of Mining Leases for its Arrowsmith North Silica Sand Project (Arrowsmith North) and Arrowsmith Central Silica Sand Project (Arrowsmith Central), located approximately 270km north of Perth, Western Australia. The combined Mining Lease areas cover over 3,600ha, sufficient for over 100 years of production. Arrowsmith North is located approximately 270km north of Perth between the regional Western Australian towns of Eneabba and Dongara. The project sits proximate to Brand Highway and is connected to the Geraldton Port via the Eneabba-Geraldton Railway. The Mineral Resource Estimate (MRE) for Arrowsmith North comprises an Indicated Mineral Resource of 248 Mt @ 97.7% SiO2 in addition to an Inferred Mineral Resource of 523 Mt @ 98.2% SiO2 for a Total MRE of 771 Mt @ 98.0% SiO22 reported in accordance with the JORC Code. The Company completed the necessary work to convert the Indicated Mineral Resource to Probable Ore Reserve4. Table 2 details the Probable Ore Reserve reported in accordance with the JORC Code that will be produced from mining of the Indicated Mineral Resource and processing in a purpose-built, wet-sand processing plant. The Company has set out in the Arrowsmith North BFS a production target of 47.7Mt from the first 25 years of mine life at Arrowsmith North, reported in accordance with the JORC Code, sourced from the Probable Ore Reserve of 204Mt @ 99.7% SiO2 within the Mining Lease (M70/1389) area. Based on metallurgical test work completed to-date, the silica sand at Arrowsmith North is
readily amenable to upgrading by conventional washing and screening methods to produce a high-purity silica sand product with high mass recoveries. The high-purity silica sand product specifications are expected to be suitable for industries such as glass making and foundry sand. The plant will produce four saleable products for different markets. VRX has submitted a formal referral to the Federal Department of Agriculture, Water and Environment (DAWE) and will follow with a formal referral to the State Environmental Protection Authority (EPA) to secure environmental approvals for the development of Arrowsmith North. Pre-referral meetings with representatives from DAWE and the EPA have provided valuable feedback as to requirements for these referrals. The Company will also seek to expedite approval for its mine plan and the issue of a mining permit from the Department of Mines, Industry Regulation and Safety (DMIRS). Arrowsmith Central is located approximately 270km north of Perth between the regional Western Australian towns of Eneabba and Dongara. The project sits proximate to Brand Highway and is connected to the Geraldton Port via the Eneabba-Geraldton Railway. The Mineral Resource Estimate (MRE) for Arrowsmith Central comprises an Indicated Mineral Resource of 28.2 Mt @ 96.6% SiO2 in addition to an Inferred Mineral Resource of 48.3 Mt @ 96.9% SiO2, for a Total MRE of 76.5 Mt @ 96.8% SiO2 6 reported in accordance with the JORC Code. The Company completed the necessary work to convert the Indicated Mineral Resource to Probable Ore Reserve. Table 5 below details the Probable Ore Reserve that will be produced from the mining of the Indicated Mineral Resource and processing in a purpose built, wet sand processing plant. The Company has set out in the Arrowsmith Central BFS a production target of 18.9 Mt @ 99.6% SiO2 as reported in accordance with the JORC Code with 18.7 Mt @ 99.6% SiO2 contained within the area of the Company's Mining Lease (M70/1392). Based on metallurgical test work completed to-date, the silica sand at Arrowsmith Central is readily amenable to upgrading by conventional washing and screening methods to produce a high-purity silica sand product with high mass recoveries. The high-purity silica sand product specifications are expected to be suitable for industries such as glass making and foundry sand. In addition to these products, the plant will produce a by-product that contains a concentration of titanium minerals such as rutile and ilmenite which can be sold at a nominal value to a company with specialist equipment for separating mineral concentrate. Is New 90 Day High Low • Nov 16
New 90-day high: AU$0.20 The company is up 105% from its price of AU$0.10 on 18 August 2020. The Australian market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 5.0% over the same period. Announcement • Nov 08
VRX Silica Limited Announces Aboriginal Heritage Survey Results Arrowsmith North Silica Sand Project and Arrowsmith Central Silica Sand Project VRX Silica Limited announced the results of an Aboriginal heritage survey at its Arrowsmith North Silica Sand Project (Arrowsmith North) and Arrowsmith Central Silica Sand Project (Arrowsmith Central), located approximately 270km north of Perth, Western Australia. The comprehensive archaeological and ethnographic survey was conducted last month with Amangu representatives of the Yamatji Nation and Yamatji Marlpa Aboriginal Corporation (YMAC) personnel over proposed initial mining and critical infrastructure areas. Preliminary advice received by the Company from YMAC confirms that the Arrowsmith North Access Road, Services Corridor and Production Area are clear for the stated works to proceed for 10 years of production. The Arrowsmith Central Production Area and Arrowsmith Central Infrastructure Areas are cleared for 5 years of production. The survey found no isolated artifacts with no onerous heritage recommendations. The Company recently announced1 that it expects the Mining Leases and Miscellaneous Licences sought for Arrowsmith North and Arrowsmith Central to be granted imminently. Reported Earnings • Oct 01
Full year earnings released - AU$0.0055 loss per share Over the last 12 months the company has reported total losses of AU$2.37m, with losses narrowing by 61% from the prior year. 
