Allup eyes bigger silica footprint

Silica sand explorer Allup Silica has applied for two new exploration projects, Blue Vein in WA and Trigger Fish in the NT. The company is also looking to beef up its Dune Buggy project by lodging an application to expand its tenement just 15km from the port of Esperance in WA.

Since listing in May, Allup’s strategy has been focused on projects, purity and ports. With the company’s latest applications now submitted its ‘triple-p’ approach has clearly been reflected.

Blue Vein is located about 30km by rail to WA’s Bunbury port 150km south of Perth and comes stacked with data from historical drilling. A desktop review combined with a site visit has indicated to Allup the new WA exploration project has the potential to host silica sands.

Trigger Fish is located just 4km east of the railway line stretching from Adelaide to Darwin with a 470km ride to Darwin’s port. Despite an absence of historical drilling Allup has completed a desktop review and again declared the project has potential for silica sands.

The final part of the company’s land grab comes at Dune Buggy where an 8.6-square-kilometre extension is hoped to be tacked onto the eastern side of the existing holding, marginally increasing its proximity to the port of Esperance.

Allup Silica Chairman Andrew Haythorpe said: “Allup is focused on progressing the development of its early-stage silica sand exploration project locations and ongoing exploration. Allup’s commercial strategy is to concentrate on multiple projects with both logistics and port options.”

After the recent additions the company has decided to withdraw its Antwalker tenement application as management believes the portfolio changes will optimise its opportunities for the development of its early-stage projects.

Allup will redirect funds previously earmarked for Antwalker to the rest of its silica sands portfolio.

High-quality silica sand is a central component of the semiconductors used in electronics, computer processors and photovoltaics.

Photovoltaics is a fancy way to describe the conversion of light into electricity or more plainly, solar panels.

Leading market research company IMARC Group sees the global silica sand market potentially growing from US$7 billion in 2019 to US$20 billion by 2024.

In the same vein, analysts from Bizwit Research and Consulting estimate the global solar photovoltaics glass market to reach US$48.2 billion by 2025, up from US$3.3 billion in 2016.

The element silicon is listed in the Australian Critical Minerals Strategy of 2022 and is similarly defined as a critical mineral by the European Union, Japan and India.

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au