Venture may develop $162m Tasmania project

Tin and tungsten developer Venture Minerals will start a bankable feasibility study at its Mount Lindsay project, after a prefeasibility study confirmed the robust economics of the Tasmanian project.

The company said it would cost A$162-million to develop a 1,3-million-ton a year openpit mining operation at Mount Lindsay, which is projected to deliver A$1,4-billion in revenue over an eight-year mine life.

MD Hamish Halliday commented that the prefeasibility study suggested that the project had the potential to transform Venture into a successful mining company.

Following the completion of the prefeasibility study, we can now start a bankable feasibility study as well as continuing to maintain an aggressive approach to exploration, he added.

The bankable feasibility study would include additional infill drilling on the Main and Number 2 skarns to increase the resource category to the measured category, as well as extensive drilling targeting the neighbouring skarns to potentially deliver additional tons.

Meanwhile, Venture has also initiated a project finance strategy, which includes engaging with global investment banks and other industry financiers, to deliver a finance package for the development of the Mount Lindsay project.