Friday, January 27, 2023
HomeBusinessStocks of the Hour: VRX Silica, Mineral Resources, Meteoric Resources

Stocks of the Hour: VRX Silica, Mineral Resources, Meteoric Resources

VRX Silica (ASX:VRX) Arrowsmith North and Muchea Silica Sand projects have been included in the Australian Critical Minerals Prospectus for 2022 published by Austrade. VRX Silica Managing Director Bruce Maluish said: “We are pleased that the Australian Government has recognised that silicon and silica sand are a critical mineral and that VRX has significant potential to address anticipated production shortfalls and build supply chain security as we progress to a carbon netzero future. Sharea are flat at 13 cents.

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Mineral Resources (ASX:MIN) intends to make an off-market takeover bid to acquire every issued fully paid ordinary share in Norwest Energy NL (ASX: NWE) that it does not already own. The Offer implies an offer price of $0.06 per Norwest Share. In response, MinRes Managing Director Chris Ellison said: ““This Offer presents a compelling and unique opportunity for Norwest Shareholders to join the MinRes family and be part of the next chapter in our significant value creation.” Shares are trading 0.7 per cent higher at $82.61.

Meteoric Resources (ASX:MEI) has entered into a binding agreement to acquire a world class Ionic Clay Rare Earth Element (REE) project in Brazil. Company Director Dr. Andrew Tunks said, “The Caldeira Project is a fifteen-kilometre scale, ultra-high-grade ionic clay deposit which is completely open at depth and it has the potential to host large, high grade rare-earth element-ionic clays and represents an enormous opportunity for Meteoric.” Shares are trading 93.8 per cent higher at 3.1 cents.

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