• Silica sand explorer VRX Silica (VRX) is kicking off FY21 in a steady financial position as it keeps developing and exploring its key projects in WA
  • The company has around $2.6 million in the bank at the end of June after spending just over $560,000 over the quarter, meaning it has enough cash to survive for another five financial quarters
  • Of course, more funds are headed VRX's way following the sale of its Ventnor Gold Project to New Energy Metals
  • VRX is now just waiting to receive appropriate mining licences to begin work at its flagship Arrowsmith and Muchea projects
  • Shares in the company quickly rose following the late-market announcement, closing over two per cent higher at 9.7 cents this afternoon