VRX receives Arrowsmith endorsement from EPA

West Perth-based VRX Silica appears to be within touching distance of securing development approval for its Arrowsmith North silica sands project, located 270km north of Perth.

Bruce Maluish-led VRX informed the market on Thursday that the Environmental Protection Authority of Western Australia had officially published and released its assessment report for the project – recommending it be implemented, so long as specific conditions are met.

The company said following consultation with the EPA, it had accepted all conditions.

This news was well received by the market, with VRX shares closing trade up 21 per cent to 5.2 cents, its highest price since December 12 last year.

Now the EPA’s report has been published, there is a three-week review period, before state environment minister Reece Whitby can consider its approval. 

Last month, VRX tapped investors for $4 million, courtesy of a two-tranche placement, in a bid to provide the development of the project.