Ilwella is pleased to announce that we are supporting Metallica Minerals (ASX: MLM) in the next development phase of its silica sand project. This project will be undertaken in the world-class Cape Flattery Dune field, in North Queensland. The silica sand at Cape Flattery Dune is of the highest quality globally, and with demand for ultra-clear flat glass for solar panels as strong as ever, the site is well-positioned to capitalise on the increasingly enterprising solar market.
Demand is equally strong for the use of silica sand in other glass-making industries, including fibre-optics, LCD panels, LED lights and electronics. Silica sand is one of the most used commodities on the planet, and there are just a handful of ASX small caps with projects in silica sand, pushing Australia to compete on the global stage in this industry.
Metallica Minerals has raised $4.9M in total to advance the development of its Cape Flattery Dune project, with $2.2M committed by Ilwella. These are very exciting times for Metallic Minerals and the Queensland and Australian resource industries. We look forward to being a long-term investor in this project and seeing it in full production.
“We are pleased to be joining the Metallica team on their journey to developing their high-quality Cape Flattery silica sands project. We have a strong view that the world’s appetite for high-grade Cape Flattery silica sand products will continue to grow and this project will play a key part in meeting this future demand. We believe the silica sands market represents a huge opportunity over the next decade and continue to be committed to supporting high-quality projects in this space.” – Quentin Flannery, Ilwella Chief Investment Officer.
See the full announcement from Metallica Minerals below.
