Why the Strandline Resources (ASX:STA) share price is up 11% today

The Strandline Resources Ltd (ASX: STA) share price is rocketing upwards today.

The mineral sand producer’s share price opened 9.5% higher than yesterday’s close after announcing it secured the final binding offtake contract for its flagship project.

At the time of writing, Strandline shares are up more than 11.9% – selling for 24 cents apiece.

What did Strandline Resources announce?

In today’s announcement to the ASX, Strandline Resources reported it has signed an agreement to sell all rutile produced at its Coburn project.

The agreement is with chemical company Venator Materials – a developer of titanium dioxide pigments.

The…