Venture Minerals Updates on Lindsay Tin Tungsten Project

  • Tuesday, May 18, 2010
  • Source:

  • Keywords:tungsten, project
[Fellow]
 
A new scoping study by Australian mineral exploration company Venture Minerals Limited for the Company’s Mt Lindsay Tin or Tungsten Project in North West Tasmania has confirmed a very robust and de risked project with a high margin per tonne and an excellent internal rate of return.
 
The new study has found that mining margins per tonne could increase by 300% to USD 80 per tonne following the Company’s latest resource estimate which includes the recently discovered high grade tin and tungsten zones at Mt Lindsay. The scoping study assumes 1 million tonne per annum operation focused on the high grade zones within the Main and No.2 Skarns.
 
Scoping Study highlights include:
1. Margin per tonne increased by 300% to USD 80 per tonne
2. Capital expenditure cut in half to USD 130 million
3. Study delivers an internal rate of return of 55%
4. Net cash per annum at full production USD 80 million
5. Study suggest greater than seven years mine life
6. Tin production estimated to be in the lowest cost quartile for current tin producers
 
The new study reveals the main driver for the project is now tin and tungsten with magnetite contributing less than 25% of the revenue. With three commodities delivering revenue to the project, the Company will be one of the lowest cost producers in the tin and tungsten industry, as well as being protected from individual commodity price risk.
 
Venture Minerals considers the new study to be a major milestone for the Company, clearly demonstrating the long term economic potential of the Mt Lindsay Project.
  • [Editor:editor]

Tell Us What You Think

please login!   login   register
  • Buy & Sell

 
Please be logged in to comment!