Venture proven right on Mount Lindsay

7th November 2012 By: Esmarie Iannucci - Creamer Media Senior Deputy Editor: Australasia

PERTH ( - A bankable feasibility study (BFS) on explorer Venture Minerals' Mount Lindsay tin/tungsten project has predicted that the project could generate more than A$550-million in net revenue, peaking at some A$110-million a year.

MD Hamish Halliday said on Wednesday that the BFS emphasised the potential of the project, in particular its longevity, with mine life estimated at around nine years.

“Importantly, the BFS excludes the existing, near production direct shipping ore assets and the considerable exploration upside that surrounds Mount Lindsay," Halliday said.

“With the project expected to deliver strong cash flow over a significant mine life, the development of Mount Lindsay will transform Venture into a prominent world producer of tin and tungsten, delivering returns to shareholders and benefiting stakeholders of the project alike, particularly those in the north-west community of Tasmania.”

The project was expected to require a capital investment of some A$198-million, including a 35% plant capacity upgrade to 1.75-million tons a year. The BFS predicted that the project had a net present value of A$143-million, with a payback period of four years.

The Mount Lindsay project was estimated to host some 14-million tons of resource, at 0.2% tin and 0.1% tungsten, for 30 000 t of contained tin and 46 000 t of contained tin/tungsten metal.

Halliday said that with the BFS now completed, Venture would focus on the approval process, as well as offtake and financing strategies, for Mount Lindsay.

In addition, the company would also accelerate exploration efforts at the new Big Wilson prospect, where Venture had recently contracted a second rig to start work during the coming week.