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Lindsay Dudfield, Executive Director and CEO of Jindalee Resources Limited, Executed MOU with POSCO Holdings For Joint Research At McDermitt Lithium Project

JINDALEE RESOURCES LIMITED  (ASX: JRL) (Jindalee, the Company) is an Australian exploration company with Tier 1 lithium deposits in its portfolio in the United States. The Company’s core goals are to discover world-class mineral deposits and generate shareholder wealth. The United States is one of the largest marketplaces for lithium demand, and Jindalee is a leading company committed to help meet future demand. The Company is focussing efforts into developing its McDermitt lithium deposit. Jindalee Resources was listed on the Australian Securities Exchange (ASX) on 11th July 2002 and raised AUD 2.70 million. Now, it is a pure-play United States lithium company. Jindalee’s Projects: In June 2018, the Company acquired McDermitt and Clayton North, two lithium sediment projects in the United States. Both projects are 100% owned by HiTech Minerals Inc., a wholly owned, US-based subsidiary of Jindalee. Several factors attracted the Company’s interest in these projects including: Potenti...
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VRX Silica Performance In The First Half Of The Financial Year 2023

VRX SILICA LIMITED (ASX: VRX or Company) is a mineral exploration company that is developing high-quality silica sand projects. Silica sand is used in various industrial applications, including glassmaking, foundry moulds, and construction. The Company is developing several SILICA SAND PROJECTS in Western Australia, with significant tonnes of resources. VRX is committed to sustainable and responsible mining practices and strongly focuses on environmental stewardship and community engagement. This report provides an update on the Company’s financial performance, projects and operations, market analysis, and plans for the first half of the financial year 2023.

Financial Performance

VRX SILICA LTD is a silica sand exploration and development company based in Western Australia. The group divided its operation into two reportable segments, development assets and Exploration and evaluation assets for management purposes. During the first half of 2023, the Company reported revenue of AUD 0.08 MILLION and incurred net losses of AUD 2.62 MILLION.

As of December 31st, 2022, the Company has a strong cash position of AUD 5.10 MILLION with net assets of AUD 19.45 MILLION. In the half year that ended December 31st, 2022, the Company had no development assets.

Updates on Cashflow and Changes in Equity

  • In reporting six months period, VRX Silica invested AUD 2.36 MILLION in mining interests, along with several more minor investments
  • During the period, 2 MILLION ordinary fully paid shares were issued upon the exercise of 4 MILLION unlisted options
Projects and Operations

VRX is a pure-play silica sand exploration and development company with high-value and advanced-stage projects in Western Australia. The Company has four projects in their portfolio.

Arrow smith North Silica Sand Project

THE ARROWSMITH NORTH SILICA SAND PROJECT is a flagship project of VRX. The project is located in Western Australia. It is expected to produce high-quality silica sand for the construction industry. The Company will build a 2mtpa processing plant and is expected to commence production in 2023, subject to final environmental approvals. A revised capital estimate will be used to seek funds to construct the 2 MILLION TONNES PER YEAR CAPACITY processing plant with a unique patented custom process circuit.

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