Perpetual Resources Ltd (ASX:PEC) executive chairman Julian Babarczy and managing director Robert Benussi have demonstrated confidence in the company’s silica sand strategy through the purchase of shares in on-market transactions.
Babarczy purchased 750,000 shares for a consideration of $61,741 and Benussi purchased 175,000 shares for $14,479.80.
Beharra Silica Sand Project PFS
Last week, Perpetual completed a pre-feasibility study (PFS) that confirmed its Beharra Silica Sand Project as a compelling low capex and strong free cashflow project underpinned by a 64 million tonnes reserve supporting a 32-year mine life.
This PFS and reserve validate the company’s intention for Beharra, southeast of Geraldton in Western Australia’s Mid-West, to become an essential low impurity supplier of high-quality silica sand products to the rapidly growing APAC glass and foundry sand markets.
The financial metrics of the PFS, which is the culmination of more than seven months of extensive independent study, demonstrate the robustness of the project which also affords expansion potential and the potential ability to respond to increases in market demand.
