THE BOURSE WHISPERER: Venture Minerals (ASX: VMS) has responded to industry chatter regarding the expected high demand from the fast growing (electric vehicle) EV market.
Venture Minerals indicated it has commenced a detailed reassessment of the high-grade tin and tungsten resource base at the company’s Mount Lindsay project in Tasmania.
Venture presented data indicating tin being independently ranked as the number one metal most impacted by modern technology demand.
The company considers itself as being uniquely positioned with Mount Lindsay being one of the largest undeveloped tin projects in the world, containing in excess of 80,000 tonnes of tin metal.
The Mount Lindsay project also hosts, within the same mineralised body, a tungsten resource containing 3.2 million MTU (metric tonne units) of tungsten trioxide (WO3).
Venture declared it has a large resource base to draw from and indicated it intends to look at strategies to optimise the higher-grade portions at Mount Lindsay, which previously reported resources included 4.7 million tonnes at 0.4 per cent tin and 0.3 per cent WO3.
Venture said it would now look to focus on assessing the underground mining potential of this high-grade Resource.
“Knowing that the Mount Lindsay project has a large tin resource that could be harnessed to meet applications in Electrical Vehicles and renewable energy has refocussed the company to revisit its approach in developing this asset,” Venture Minerals managing director Andrew Radonjic said in the company’s announcement to the Australian Securities Exchange.
“With Mount Lindsay, Venture is now well placed to take part in the EV revolution.”