The trading halt will remain in place until the beginning of normal trade on Monday, November 4, 2019, or when an announcement is made to the market, whichever occurs earliest.
VRX Silica's shares last traded at 14 cents.
Earlier this month the company received the third of its bankable feasibility studies (BFS) for its WA projects, the Muchea Silica Sand Project, which it said demonstrated ‘outstanding’ financial metrics.
The BFS indicates that Muchea can produce very high-grade silica sand products.
Managing director Bruce Maluish said the outstanding BFS demonstrated the potential for Muchea to be a world-class high-grade silica sand deposit.
He said it was the most impressive of the three bankable feasibility studies completed for the company’s silica sand projects north of Perth, with the project set to benefit from the rail connection to Kwinana port for export.
The study incorporated a maiden probable ore reserve of 18.7 million tonnes at 99.9% SiO2 with 14.6 million tonnes at 99.9% SiO2 in the mining lease application area.