Highlights:
- Project generates substantial revenue at all price assumptions
- Excellent Internal Rate of Return - up to 55% at current spot prices
- Mine life of eight years already defined
- Capital cost estimated at A$162m, including new APT plant for tungsten
- Immediate commencement of Bankable Feasibility Study
- Project financing & offtake strategies have commenced
- Vast exploration upside remains at the 100% owned Mt Lindsay Project
- A$25 million in cash, 6 drill rigs on site testing multiple new skarn targets
Venture Minerals Limited (ASX code: VMS), announces that the results of a Pre-Feasibility
Study (PFS) at the Mt Lindsay Tin/Tungsten Project in north-west Tasmania, have confirmed the robust economics of the project, moving Venture a step closer to becoming a significant producer of tin and tungsten.
The detailed study has delivered impressive results, suggesting a future operation at Mt Lindsay would generate substantial revenue, operate at a high margin per tonne and deliver an excellent internal rate of return.
The study at Mt Lindsay, one of the world’s largest undeveloped tin projects, focussed primarily on open pit mining, utilised indicated resources only and was based on a throughput of 1.3Mt per annum and optimised at a tin price of US$25,400 per tonne, which represents more than a 20% discount to the current London Metal Exchange (“LME”) tin price.
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