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THE DAILY ROADHOUSE

 

 

Calidus Resources Confirms Robustness of Warrawoona Pit

THE DRILL SERGEANT: Calidus Resources (ASX: CAI) announced further results from within the planned open pit at the company’s Warrawoona gold project in the Pilbara region of Western Australia.

Gold Road Resources Completes Healthy Gruyere Quarter

THE BOURSE WHISPERER: Gold Road Resources (ASX: GOR) released its activity report for the quarter ending 30 September 2019.

Perseus Mining Shuffles Seats at Boardroom Table

THE DRILL SERGEANT: Perseus Mining (ASX: PRU) made its intentions known that it will be proposing the appointment of David Ransom to the role of non-executive director at the company’s upcoming Annual General Meeting.

 

Venture Minerals (ASX: VMS)

THE CONFERENCE CALLER: Wally Graham caught up with Venture Minerals Managing director Andrew Radonjic at the recent RIU Resources Investor Roadshow in Melbourne.

CLICK ON THE PICTURE TO VIEW.

Venture Minerals (ASX: VMS) recently committed to the recommencement of mining activities at the company’s Riley iron ore mine in Tasmania.

Venture Minerals made the announcement following completion of an updated Riley Iron Ore Mining Study with the associated Pre-Feasibility Study (PFS) delivering strong returns from a low capex two-year project, that the company believes to be well positioned to capture the current higher iron ore price environment.

In addition to completing the study the company, having previously signed a Binding Terms Sheet for the Riley Iron Ore Mine off-take with Prosperity Steel, has now signed a full off-take agreement for the Riley product for 100 per cent of the first two years of iron ore production.

First shipment of ore from the Riley Mine is currently planned for the fourth quarter of 2019, however the company indicated it was continuing to work on additional strategies to further reduce operating costs on the project before the first ore shipment.

These cost optimisation programs will focus on enhancing ore transport solutions.

“This is an exciting phase for the company as it moves from explorer to producer,” Venture Minerals managing director Andrew Radonjic said in the company’s announcement to the Australian Securities Exchange.

“The Riley Iron Ore Mining Study demonstrates the delivery of an exceptional Internal Rate of Return in excess of 300 per cent is possible by leveraging the relatively small capex required to commence production.

“Venture has brought together an experienced team with a blend of local knowledge that has built, managed and operated iron ore and other similar sized projects, thereby de-risking the execution phase of the Riley project.

“The Riley Iron Ore Mine will create 80 to 100 jobs and will be a boost for the economy of the West Coast of Tasmania.

“We look forward to commencing production shortly.”

 

 

Venture Minerals Signals Go-ahead at Riley Iron Ore Mine

THE BOURSE WHISPERER: Venture Minerals (ASX: VMS) recently committed to the recommencement of mining activities at the company’s Riley iron ore mine in Tasmania.

The company’s managing diretor Andrew Radonjic spoke with the Resources Roadhouse at the RIU Resources Investor Roadshow in Melbourne.

CLICK ON THE PICTURE TO VIEW.

Venture Minerals made the announcement following completion of an updated Riley Iron Ore Mining Study with the associated Pre-Feasibility Study (PFS) delivering strong returns from a low capex two-year project, that the company believes to be well positioned to capture the current higher iron ore price environment.

In addition to completing the study the company, having previously signed a Binding Terms Sheet for the Riley Iron Ore Mine off-take with Prosperity Steel, has now signed a full off-take agreement for the Riley product for 100 per cent of the first two years of iron ore production.

First shipment of ore from the Riley Mine is currently planned for the fourth quarter of 2019, however the company indicated it was continuing to work on additional strategies to further reduce operating costs on the project before the first ore shipment.

These cost optimisation programs will focus on enhancing ore transport solutions.

“This is an exciting phase for the company as it moves from explorer to producer,” Venture Minerals managing director Andrew Radonjic said in the company’s announcement to the Australian Securities Exchange.

“The Riley Iron Ore Mining Study demonstrates the delivery of an exceptional Internal Rate of Return in excess of 300 per cent is possible by leveraging the relatively small capex required to commence production.

“Venture has brought together an experienced team with a blend of local knowledge that has built, managed and operated iron ore and other similar sized projects, thereby de-risking the execution phase of the Riley project.

“The Riley Iron Ore Mine will create 80 to 100 jobs and will be a boost for the economy of the West Coast of Tasmania.

“We look forward to commencing production shortly.”

 

 

Email: info@ventureminerals.com.au

 

Web: www.ventureminerals.com.au

 

Last Look at Resources Companies Presenting at Gold Coast Investment Showcase

THE CONFERENCE CALLER: The 2019 Gold Coast Investment Showcase kicks off next week and The Resources Roadhouse continues its look at companies that will be in attendance.

 

Venture Minerals (ASX: VMS) has upgraded the Resources at the company’s Riley iron ore project in Tasmania.

Venture Minerals announced the upgrade as part of the ongoing iron ore mining study underway at the Riley project that has updated the JORC Code 2004 maiden resource statement of 2 million tonnes at 57 per cent iron to meet the guidelines of the JORC Code 2012.

The company indicated the upgrade coincides with release of the tender documents to be released this coming week to contractors for the mining, processing and haulage components of the Riley DSO project, from which the resultant prices will be used in the updating of the mining study.

Venture said that as part of the mining study update, the Riley ore reserves will also be upgraded to JORC Code 2012 so that a decision to recommence mining can be made at the earliest opportunity by the Board.

Following a favourable study outcome and a decision to mine, Venture’s goal is to commence iron ore production in Q4 2019.

“The resource upgrade and the imminent release of the tender documents for the three main contracts of the Riley Mine are significant steps towards completing the updated mining study,” Venture Minerals managing director Andrew Radonjic said.

Venture Minerals’ Resource upgrade follows firm commitments under a Share Placement to sophisticated and professional investors.

Venture Minerals is raising just over $1.5 million through the issue of around 78 million Ordinary Shares at an issue price of two cents per share.

The company explained the raised funds will provide certainty that it will be funded to progress the development of the Riley iron ore project in Tasmania should a positive decision to mine be reached by the Board.

“The Placement and the fully underwritten Entitlement Offer secures key funding capacity for Venture to progress the updated feasibility study on the Riley iron ore project during a time of significant strength for global iron ore markets,” Radonjic said.

“The recently executed off-take agreement for the Riley project provides strong market validation that the Riley product will be highly sought after.

“The Fully Underwritten Entitlement Offer provides all shareholders the opportunity to participate in the future of the company as we enter an exciting phase of working towards potentially bringing Australia’s next iron ore mine into development.

“With the iron ore price recently breaking through US$100 a tonne, the outlook for the iron ore sector is positive and the Riley project will benefit from a quick-to-market development status by leveraging circa 90 per cent of the required equipment that was previously purchased in 2014 being still on hand.

“The Board looks forward to completing the updated feasibility study on the Riley iron ore project and updating the market on its outcome in the near term.”

Venture has also invited eligible institutional shareholders to participate in a Fully Underwritten Institutional Entitlement Offer.

 

Meteoric Resources (ASX: MEI) recently completed the acquisition of the highly prospective Juruena and Novo Astro gold projects in Brazil from Crusader Resources (ASX: CAS).

The Juruena and Novo Astro projects cover an area of approximately 770 square kilometres, comprising 24 tenements, located on the western end of the highly prospective Alta Floresta Belt, which is host to major miners including Anglo American and Vale.

Geologically, the Alta Floresta belt is a Paleoproterozoic, east west trending, continental magmatic arc, estimated to have produced over seven million ounces of gold to date.

The Alta Floresta Belt is arguably the most desirable gold exploration destination in Brazil.

The Juruena project hosts a JORC (2012) Compliant Resource Estimate of 1.3 million tonnes for 261,000 ounces of gold at 6.3 grams per tonne.

“The formal completion of the Acquisition of Juruena and Novo Astro marks the commencement of the next exciting stage of development for Meteoric as we move to commence exploration,” Meteoric Resources managing director Dr Andrew Tunks said.

Tunks advised that he was travelling to site to join Meteoric operations manager Peter Sheehan and the company’s Brazilian team to finalise the initial drilling plan for the Dona Maria and Querosene prospects, the two most advanced targets on Juruena.

“These prospects already contain a combined high-grade JORC 2012 Mineral Resource Estimate of 436,000 tonnes at 14.7 grams per tonne for 205,000 ounces it is our intention to complete further drilling at these bonanza grade prospects,” Tunks continued.

“This is truly an exciting time for the company and its shareholders as we move into gold exploration in what we believe is one of the most prospective regions in the world, the Alta Floresta Belt in Brazil, which is home to majors including Anglo American and Vale.

“Since the announcement of the Acquisition back in April, the Meteoric team – myself included – have been itching to get on the ground and start exploration and I am simply thrilled that we are now mobilising.”

 

Venture Minerals Funding Riley Resurrection with Placement and Entitlement Offer

THE BOURSE WHISPERER: Venture Minerals (ASX: VMS) informed the market that it has received firm commitments under a Share Placement to sophisticated and professional investors.

Venture Minerals is raising just over $1.5 million through the issue of around 78 million Ordinary Shares at an issue price of two cents per share.

The company explained the raised funds will provide certainty that it will be funded to progress the development of the Riley iron ore project in Tasmania should a positive decision to mine be reached by the Board.

“The Placement and the fully underwritten Entitlement Offer secures key funding capacity for Venture to progress the updated feasibility study on the Riley iron ore project during a time of significant strength for global iron ore markets,” Venture Minerals managing director Andrew Radonjic said in the company’s announcement to the Australian Securities Exchange.

“The recently executed off-take agreement for the Riley project provides strong market validation that the Riley product will be highly sought after.

“The Fully Underwritten Entitlement Offer provides all shareholders the opportunity to participate in the future of the company as we enter an exciting phase of working towards potentially bringing Australia’s next iron ore mine into development.

“With the iron ore price recently breaking through US$100 a tonne, the outlook for the iron ore sector is positive and the Riley project will benefit from a quick-to-market development status by leveraging circa 90 per cent of the required equipment that was previously purchased in 2014 being still on hand.

“The Board looks forward to completing the updated feasibility study on the Riley iron ore project and updating the market on its outcome in the near term.”

Venture has also invited eligible institutional shareholders to participate in a Fully Underwritten Institutional Entitlement Offer.

 

Email: info@ventureminerals.com.au

Website: www.ventureminerals.com.au