Allup Silica Ltd. (AU:APS) has released an update.
Allup Silica Ltd. has announced the acquisition of the advanced McLaren Valuable Heavy Mineral Sands Project in Western Australia, with a significant resource estimate of 280 million tonnes at 4.8% Heavy Mineral. The company is capitalizing on strong ilmenite demand and potential titanium shortages by planning to accelerate the project’s development with a lower-cost capital expenditure plan and a focus on producing a bulk concentrate. Additionally, Allup has initiated a placement to raise $360,000 for working capital to drive the project forward.
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