Business
Homerun Resources Inc. Executes Formal Agreement for High-Purity Quartz Silica Sand Supply in Brazil
Vancouver, British Columbia--(Newsfile Corp. - July 24, 2023) - Homerun Resources Inc.  ( T...
About this update from Homerun Resources Inc.
[{"type":"text","content":"Homerun Resources Inc. Executes Formal Agreement for High-Purity Quartz Silica Sand Supply in BrazilVancouver, British Columbia--(Newsfile Corp. - July 24, 2023) - Homerun Resources Inc. (TSXV: HMR) (\"Homerun\" or the \"Company\") is pleased to announce that on July 22, 2023, the Company completed a significant milestone in its business development plan with the receipt of the signed Material Supply Agreement between Homerun Resources Inc. (\"HMR\") and the vendor (\"Vendor\") detailing the operational terms regarding the supply of high purity silica sand sourced from the Vendor's district-scale, fully permitted project in Bahia, Brazil. Under the Agreement, the purchase price has been set at US$20.00 per tonne, net of Homerun's obligation to cover recoverable costs and applicable taxes. The applicable taxes in Brazil are dependent on customer jurisdiction both domestically and for international shipments. Recoverable costs are dependent on whether the mode of operation is service contractor or internal capital equipment or equipment lease. This is yet to be determined.This strategic Agreement marks a substantial step forward for Homerun Resources Inc. and reinforces the Company's commitment to establishing a strong foothold in the critical and energy materials sector.Brian Leeners, Director and CEO stated, \"I am excited to present this Supply Agreement, which is a pivotal element driving our accelerated path towards generating revenue. Our silica business strategy comprises three fundamental phases: (1) procurement, (2) efficient logistics and processing, and (3) revenues. We have been simultaneously developing all three phases, and we encourage you to stay engaged as we tirelessly strive to create exceptional value by achieving significant business milestones to the benefit of our valued shareholders.\"The Vendor has provided extensive third-party testing that verifies and demonstrates that the raw silica sand grade averages +99.8% SiO2 and contains very low levels of impurities. The Company will initiate further testing on the reduction of residual impurities after standard processing, through a combination of thermal application and acid leaching, to upgrade the current raw silica sand to higher grade HPQ.High-Purity Quartz (HPQ) Quartz is one of the most abundant minerals and occurs in many different geological ...