02 · The pathway
Three stages. Each unlocks the next.
The conservative development plan is a three-stage progression along the silica value chain. Each stage stands as a viable end-state in its own right. Each stage validates the case for the next. Capital is committed by gate, not in advance.
Stage 1
Years 1–3
USD 25M
Water wash, dry and pack
Mining, water washing, drying, and packaging in one-tonne bags. Conventional silica beneficiation flowsheet. Power, water supply, transport corridor and in-country operations established.
Output: washed industrial silica sand, one-tonne bagged for direct delivery.
Market: Syrian construction and reconstruction sector. Competitive domestic pricing.
Stage 2
Years 4–6
USD 25M
Capacity expansion + acid leach
Wash plant capacity expansion plus acid leach and magnetic separation circuits. Triggered by Stage 1 cash flow, JORC verification, and metallurgical confirmation of upgrade response.
Output: glass-grade silica, targeting 99.999% SiO₂ subject to metallurgical confirmation.
Market: international export. Glass, container glass, solar glass and foundry markets.
Stage 3
Year 7+
USD 55M
Thermal calcination
Thermal treatment and calcination circuits producing high-purity quartz. Conditioned on Stage 2 product qualification with strategic offtake partners and confirmed metallurgical response.
Output: high-purity quartz, targeting solar-grade with pathway toward semiconductor-grade specifications.
Market: international export. High-value specialty markets, long-term offtake-led positioning.
Total commitment envelope across the pathway
USD 105M staged across approximately seven years
A strategic partner committing across all three stages secures position from washed industrial silica through to high-purity quartz on the same resource base, with each subsequent stage gated on demonstrated execution and metallurgical confirmation. Single-stage and multi-stage commitments are both welcomed.
