VRX Silia Announces Major Cost-Cutting Measures

VRX Silica Ltd. (AU:VRX) has released an update.

VRX Silica Ltd has announced substantial cuts in corporate overheads, including a 50% reduction in director fees and salaries, as part of cost-saving initiatives following a successful $2.46 million capital raise. The company is also nearing the end of the environmental approvals process for its Arrowsmith North Silica Sand project. These measures are part of a capital management program to position VRX for the development and production stage of the project.

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