Venturex Resources (ASX:VXR) is a fast-moving base metal mining company driven by sustainable growth and creating returns for our shareholders. The company is focused on development of its flagship Copper Zinc Sulphur Springs Project in Western Australia as well as continued exploration across its other assets in the Pilbara region.
The Project is located approximately 145 kilometres south east of Port Hedland and is accessed by a combination of sealed all weather road and haul road. The Project is situated on granted mining leases with an existing Mining Agreement in place with the Njamal people. The Project is 100% owned by Venturex.
The key advancement in the Sulphur Springs project has been the development of a Definitive Feasibility Study (“DFS”) which is due for completion at the start of Q4 CY2018. The DFS leverages off the back of the Value Engineering Study (VES) completed in February 2017 as well as creating a significant amount of new intellectual property that will produce a level of study that will support project financing.
The approach to mining of the project will be similar to the VES utilising both open pit and underground mining methodologies. Processing will be completed on site with both Copper and Zinc concentrate produced which will be trucked to Port Hedland for shipping to Asian smelters. A tailings storage facility will be located on site and will be a conventional ‘valley fill’ style construction.
The base case development scenario from the VES in 2017 for the Sulphur Springs Project is based on mining and processing at a rate of 1Mtpa from a Production Target of 11.7Mt at 3.6% Zn and 1.4% Cu, to produce approximately 12,000t of copper and 32,000t of zinc in separate concentrates annually. The base case development scenario outlined above derives a cash flow of A$601M pre-tax NPV8% of A$338M and an IRR of 52%.
Plans & Latest Developments:
The Sulphur Springs project is the Company’s flagship project with a JORC compliant Resource of 13.8Mt at 1.5% Cu and 3.8% Zn (for ~200kt Cu and ~520kt Zn of contained metal).
Works continue at the Company’s Whim Creek project through a profit-sharing arrangement with Blackrock Metals Pty Ltd. Geological evaluations continue on the Whim Creek projects, including Whim Creek, Mons Cupri, Salt Creek and Evelyn. The combined Whim Creek projects have a JORC compliant Resource of 8.55Mt at 1.1% Cu, 1.9% Zn and 0.5% Pb.
Why should investors invest in you?
- Near-term Cu – Zn production in WA
- Large inventory: 320kt Cu +>900kt Zn
- Feasibility study nearing completion
- One of the few emerging base metal companies on the ASX
- Excellent exploration potential
Stock Exchange Listing:
Copper | Zinc
Stage of Development:
Countries of Operation:
Board of Directors & Management
- Mr Anthony (Tony) Kiernan – Non-Executive Chairman
- Mr Ajanth (AJ) Saverimutto – Managing Director
- Mr Anthony Reilly – Executive Director
- Mr Darren Stralow – Non-Executive Director
- Mr Trevor Hart – Company Secretary & CFO