- Future silica sand producer VRX Silica (VRX) has placed its shares in back-to-back trading halts as it gets ready to execute a capital raise
- The company’s shares will remain halted from trading until Tuesday, November 24 at the lastest
- Shareholders will have to wait until then to find out exactly how much VRX is planning to raise unless it announces the plan early
- The silica sand business announced on Tuesday that it had received mining leases for two of its projects in WA
- It also has a mining lease in place for a third project in WA, which was also granted recently
- Shares in VRX last traded for 23.5 cents each on November 17
VRX Silica (VRX) has placed its shares in back-to-back trading halts as it gets ready to execute a capital raise.
The future silica sands producer has successfully applied to have its shares halted from trade until Tuesday, November 24 at the lastest.
Shareholders will likely have to wait until then to find out exactly how much VRX is planning to raise unless it announces the plan early.
The potential equity raise comes as VRX announced just yesterday that it had received mining leases for two of its projects in WA.
Both the Arrowsmith North and the Arrowsmith Central Silica Sand Projects were granted leases earlier this week.
The two projects are located 270 kilometres north of Perth, with the leases encompassing a 3600 hectares parcel of land.
VRX also owns a third project in WA, the Muchea Silica Sand Project, which was recently granted a mining lease as well.
Before today’s trading halts came into effect, shares in VRX were trading for 23.5 cents each on November 17.