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Market: ASX
Sector: General Mining
Epic: ASX:VMS
News: Latest news
Web Site: Venture Minerals
Other Articles: 09-12-200901-12-200906-08-2009

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Tuesday February 09, 07:53Mediterranean Oil & Gas doubles proven and probable reserves for Ombrina Mare to 40 mmbbls

The good news gave a welcome boost to the group's share price, sending the stock up nearly 15 percent in early trade.

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Monday February 08, 09:33Tethys Petroleum achieves flow rates of over 5,400 bopd at AKD01 discovery in Kazakhstan

Current mapping indicates that the AKD01 well is in a downdip location on the prospect Doris with approximately 56 metres of elevation updip of the well, potentially bringing the entire lower reservoir into the oil zone.

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Tuesday February 09, 01:53Chindex International reports increasing medical and healthcare revenues

Healthcare products and services group Chindex International (NASDAQ: CHDX) reported increasing revenues as it continued to expand its operations in the People’s Republic of China (PRC).

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Venture Minerals

Venture Minerals

Venture Minerals was listed on the ASX on 25 September 2006 after successfully raising $5 million.  The primary objective for Venture Minerals is to discover and develop world class energy and/or mineral deposits. The current focus for the company is realising the full economic potential of the Mount Lindsay Magnetitie-Tin Project in Tasmania.

Tuesday, June 30, 2009

Venture Minerals receives positive scoping study for tin/tungsten/magnetite at Mt Lindsay

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Tasmanian poly-metallic deposit company Venture Minerals (ASX: VMS) has released an independent Scoping Study on the Mt Lindsay deposit with positive project results.

The study indicated a starting mine life of 7 years and generating $700 million in net cash from developing the Tin/Tungsten/Magnetite deposit. 

One of the economic advantages of Mt Lindsay is that mining and processing costs can be amortised over the three commodities - delivering a higher profit margin per tonne mined.

Main parameters of the Scoping Study included:

- Annual Production - 4.4Mt
- Greater than 7 years of mine life
- Net Cash LOM (“Life Of Mine”) - $702 million
- Average Annual Operating Revenue - $241 million (at full production)
- Average Annual Operating Cost - $132 million (at full production)
- Average Annual Net Revenue - $109 million (at full production)
- Estimated Capital Expenditure - $255 million
- Internal Rate of Return - 30% (assuming 75% Equity 25% Debt)

However, the caveats to the Study are as important and provide potential for greater upside:

Less than 10% of exploration targets have been drill tested at Mt Lindsay.  There is scope for a 10 - 15 year mine life for the Mt Lindsay Deposit.  Importantly, the Stanley River DSO Project is not included in the scoping study. 

Both the Mt Lindsay and Stanley River projects have exceptional access to existing infrastructure - Power, Road, Rail and Port - and the envy of many emerging producers.  With three commodities, there is some partial protection versus one commodity price volatility. 

Perhaps forgotten, with focus on three commodities is that Venture owns the third largest JORC compliant tin resource in Australia.

Venture will now complete a major drilling campaign over the coming months focussed on expanding the Mt Lindsay resource base and extending the potential mine life of the project. A full feasibility study will commence as soon as additional resource tonnes are defined.

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