Allup Silica has listed on the ASX with an exploration strategy of targeting high-purity silica sand resources with economically viable road and port access. The company raised $5 million for exploration and evaluation of its three WA silica sand projects that include an inferred JORC mineral resource estimate of 73 million tonnes at an average grade of 96.6 per cent silica at its Sparkler prospect.
Allup Silica listed on the ASX with an exploration strategy of targeting high-purity silica sand resources with economically viable road and port access in WA.
The company raised $5 million for exploration and evaluation of its three WA silica sand projects that include an inferred JORC mineral resource estimate of 73 million tonnes at an average grade of 96.6 per cent silica at Sparkler prospect located approximately 200 kilometres from the port of Albany in WA’s South West region.
Allup said its IPO was fully subscribed and included a range of institutional, sophisticated and retail investors.
Exploration at Sparkler, formerly known as Unicup, will aim to increase the size and improve the compliance category of its existing JORC resource to accelerate development studies.
Previous exploration and drilling at the prospect have revealed high-purity silica sands, in particular low-iron impurities that are a major problem with some other silica sands intended for high-value uses. Drilling to date has identified raw grades up to 99.5 per cent silica with processed grades reaching as high as a staggering 99.9 per cent silica purity.
High-grade silica sands are primarily used in the automotive, electronics and the photovoltaic or solar panel industry, however they are also a key component of high-end glass manufacturing.
Subject to approvals at the company’s Cabbage Spot prospect in the Kimberley region, Allup will launch a development-focused exploration program to follow-up on high-purity silica sands discovered by previous work. Project economics are high on the agenda as befits a bulk commodity product with an early development ambition.
The venture is seeking the necessary approvals and consents for early-stage silica sand exploration at its Dune Buggy and Pink Bark prospects in its Esperance Project.
Allup has put together a strong Board of Directors to advance its projects, with a balance of skills in exploration to project development and operation. After the IPO, directors will hold 44.3 per cent of Allup shares aligning their success to that of the company.
Executive Chair Andrew Haythorpe is a very experienced geologist, analyst and company director and is also a non-executive director for Tempest Minerals and Managing Director of Goldoz Limited. Andrew has held numerous positions with both directorial and executive responsibilities.
Executive Director Nicholas Revell has had a distinguished career as a geologist and held several previous directorships. Gavin Ball, also an Executive Director, is a business manager with more than 30-years of accumulated skill and intellectual expertise in the start-up, commercial development, growth and ongoing management of businesses.
Gavin is the commercial director in addition to holding directorships of Stunalara Metals and RLF AgTech.
Non-Executive Director Campbell Smyth is a career professional in the provision of advice to fund management, capital markets and the corporate finance sector. His experience includes most major markets however is primarily focused on the ASX and listed and unlisted companies in North America and Europe.
Allup Executive Chairperson, Andrew Haythorpe says: “I am now very much looking forward to working hard to progress the Allup strategy, aiming to become a leading supplier of premium silica sands to meet the growing demand of global markets. This is a most exciting time for the silica sands sector and we look forward to bringing shareholders along this journey and building a strong, safe and sustainable industrial minerals business.”
Reading the prospectus and viewing the investor presentation it is clear the company’s focus is not just finding resources but finding them in a location with economically-viable transport options.
Road and port options for each project are explored in detail, demonstrating a business awareness far beyond a pure exploration focus common in many sector IPOs.
Another key focus shining through is the Allup search for high-purity, low iron, silica sand that can meet the requirements of a demanding electronics industry.
Silica sands are a hot commodity playing a vital role in powering the solar photovoltaic clean energy revolution with strong demand only set to increase from the Asia-Pacific region. Allup has positioned itself to take advantage of the revolution and is eager to deliver.
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