Venturex seeks funding for Pilbara project
PERTH (miningweekly.com) - Base metals hopeful Venturex Resources was hunting for capital to develop its Pilbara copper/zinc project, in Western Australia.
The junior said on Friday that it had appointed Optimum Capital as a debt adviser to assist in securing the debt funding required for the construction and development of the project.
“Optimum has an enviable track record of securing debt funding for junior and midtier resource companies,” said Venturex MD Michael Mulroney.
A recently completed definitive feasibility study found that with a capital investment of some A$279-million, the Pilbara copper/zinc project could produce some 16 500 t/y of copper and 30 000 t/y of zinc, along with 200 000 oz/y of silver.
The project was expected to have a life-of-mine of some eight-and-a-half years, with government approvals expected by late 2013.
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