✦ The latest East Coast Research Report for Venture Minerals is looking positive, highlighting the successful REE exploration results of their projects.
The report states that Venture Minerals has a valuation range of A$0.027–0.031 per share, demonstrating the successful exploration results on REE based on several of Venture's projects.
Read the full report below.
Brief overview of Venture Minerals' projects
Venture Minerals (ASX: VMS) is focused on the development of the Mount Lindsay Tin-Tungsten Project in northwest Tasmania, one of the largest Tin-Tungsten deposits in the world. Venture’s Riley Iron Ore Mine in Tasmania is also being maintained in a restart ready condition, for when iron ore prices become consistently economic.
In addition, the company is looking to potentially define maiden, high grade and large REE resources at its Brothers Clay Hosted REE Project in WA in the short term. It will potentially make significant enhancements to the company’s valuation. A maiden drilling program at Brothers REE Project returned very positive results.
Venture is also exploring copper, nickel and PGE resources through a JV with Chalice Mining in Venture’s “Julimar lookalike” South West Project in WA.
Mount Lindsay Project
With the recognition of tin as a fundamental metal to the EV revolution and Tungsten being a critical mineral, Venture has commenced an underground Feasibility Study on Mount Lindsay that will leverage off the previously open-pit feasibility work completed in 2012.
Mount Lindsay Project has excellent access to existing infrastructure, including hydropower, wind
power, water, sealed roads, rail tracks and port facilities. Mt Lindsay is located in the heart of the
northwest mining district with no restrictions on mining activity, other than standard
environmental and planning approval processes required for any development in Tasmania.
Mount Lindsay Underground study work has identified the potential for additional, large-scale quantities of tin and boron throughout the greater Mount Lindsay skarn system. The tin-boron zones are in the form of borate minerals and have not previously been assessed in any mining studies at Mount Lindsay. Venture believes the inclusion of tin-rich borates into the current underground feasibility studies could deliver a major economic benefit to the study, through the recovery of boron and additional tin and iron.
Brothers REE Project
In early November 2023, Venture announced the identification of a new large REE target named
the “Jupiter Prospect” within its Brothers project area. The target was identified by a coincident
gravity and magnetic anomaly extending over 40 square kilometres, which hosted extensive REE-
rich clays. Previous RC holes and the AC holes at the Jupiter Prospect had also intersected very high
REE grades.
Encouraged by these strong results, Venture soon commenced a follow-up RC drilling
program at Jupiter. Pleasingly, Venture’s initial RC program at Jupiter delivered high-grade clay-hosted REE mineralisation in all 25 holes. REE grades of as high as over 7,000ppm were included
in the intersections. The drill results showed consistent, 20-30 metres width of REE
mineralisation grading over 2,000ppm TREO within broader zones of up to 64m grading over
1,000ppm TREO. The assay results also reported an extremely low presence of the penalty
elements of Thorium and Uranium.
Given the average REE grade of well over 1,500ppm TREO from the first RC drilling program at Jupiter and the massive size of the prospect, Venture expects the ongoing resource definition drilling program at Jupiter to potentially lead to a definition of maiden high- grade clay hosted REE resources at the Brothers REE Project in the short term. This will potentially make significant enhancements to the company’s valuation.
Commodities with increasing demand
Venture is also targeting iron ore, REEs and green energy metals of nickel and copper at its various exploration projects in Tasmania and Western Australia, all of which are experiencing soaring demand by the ongoing fifth commodity Supercycle that started in 2021, which is expected to last for the next 15 to 20 years and is driven by the renewable energy transition and electrification mega-trend. Population growth, rising living standards and infrastructure required for decarbonisation are all expected to drive demand for steel and non-ferrous metals for decades to come.
Demand for REE is set to remain high long term
The global demand for REEs is projected to grow by a CAGR (Compounded Annual Growth Rate) of 10% to 2028 largely due to its application in producing high-strength permanent magnets used in the electric vehicles’ engines and wind turbines.
Venture’s REE projects in Western Australia cover large areas in a tier 1 mining jurisdiction
with very high grade REE results reported from drillings at the Brothers REE Project and
rock chip samples at the Vulcan prospect so far.
Moreover, the company is on its way to a maiden, high grade clay hosted REE resource estimate at Brothers. In the meantime, the market and investors’ desire for REE resources is set to remain high for a long time.
Venture Minerals' strengths
Venture Minerals offers a unique opportunity to invest in highly lucrative Tungsten and Tin space. Tungsten, due to its usability in defence products and a fast-depleting stockpile globally, has become a highly sought-after critical resource. Also, as the REE metal markets tighten up on the supply side, the capital markets are expected to recognise the dearth of independent companies with excellent projects, thereby supporting VMS’s valuation.
There’s also potentially significant value in Venture’s various projects in Western Australia targeting green energy metals of copper and nickel as well as other in-demand minerals of zinc, lead, silver and gold.
Mount Lindsay Tin-Tungsten Project in northwest Tasmania is one of the largest undeveloped Tin-Tungsten deposits in the world.
High-quality mineral resource base at the Mt Lindsay project with 73% of the resource in the Measured and Indicated category.
Mount Lindsay Project has excellent access to existing infrastructure, including hydropower, wind power, water, sealed roads, rail tracks and port facilities.
Running multiple exploration projects with high prospects in tier 1 mining jurisdictions targeting a range of commodities with soaring demand by the ongoing decarbonisation megatrend.
Highly experienced leadership team in place.
Venture Minerals is increasing shareholder value
The announcement of potentially large and high-grade clay hosted REE resources at the Brothers REE Project will enhance the valuation of VMS significantly.
An announcement on an offtake agreement will increase confidence in the Mt. Lindsay Tin-Tungsten project.
An announcement on the economics of Mt. Lindsay will be a major step towards the commercialisation of the mine and will increase investors’ confidence in the company.
Any increase in tin and tungsten prices will have a direct impact on the expected cash flows of Mt. Lindsay and its expected return profile.
A jump in iron ore prices will support the restart of the Riley Iron Ore Mine, and VMS will get the much-needed cash flows.
Further underground mining and mine design improvement initiatives will enhance the expected profitability from Mt. Lindsay and shareholder returns.
An increase in Venture’s defined tin-tungsten and iron ore resources in further studies will expand the commercial viability of Venture’s projects, thereby enhancing the company’s valuation.
An announcement of potentially positive metallurgical test works at Mount Lindsay demonstrating successful extraction of tin, boron and iron from the company’s tin-iron borates.
Read more about Venture Minerals on our Brilliant Investments.❋
About Venture Minerals Limited
Venture Minerals Ltd (ASX: VMS) has made a recent discovery at the Brothers REE Project including the Jupiter Clay Hosted Rare Earths Prospect. The Brothers Project includes the Iron Duke JV which hosts the Jupiter Prospect and is a potentially significant REE clay hosted discovery near Yalgoo in Western Australia. Brothers is well located to significant infrastructure including the port of Geraldton, Iluka’s Eneabba Rare Earths Refinery and Lynas Rare Earths currently operating Mount Weld Concentrator.
The Mount Lindsay Tin-Tungsten Project in northwest Tasmania, already one of the world’s largest undeveloped Tin-Tungsten deposits. With the recognition of Tin as a fundamental metal to the battery revolution and Tungsten being a critical mineral, Venture has commenced an Underground Feasibility Study on Mount Lindsay that will leverage off the previously completed open-pit feasibility work, and recently included additional, potential large-scale quantities of tin and boron within the current resource base, and extensively throughout the greater Mount Lindsay skarn system.
The tin-borates have not previously been assessed in any mining studies. Borate minerals contain a large amount of Boron, a critical mineral in the solar panel industry. At the neighbouring Riley Iron Ore Mine, the mine is prepared for a quick restart should the market conditions become favourable. In Western Australia, Chalice Mining (ASX: CHN) recently committed to the second stage of the JV which requires a further $2.5 million of expenditure over the next two years to earn a further 19% interest (for a total of 70%) in Venture’s South West Project.
At the Company’s Golden Grove North Project, SensOre (ASX: S3N) (name changed to Premier1 Lithium ASX: PLC) is farming in whilst Venture retains the REE rights, the earn-in includes drilling of the Vulcan High Grade REE Target. SensOre’s proprietary AI technology has already highlighted lithium and copper exploration potential at Golden Grove North. The Company has a significant Nickel-Copper-PGE landholding at Kulin with two highly prospective 20-kilometre-long Ni-Cu-PGE targets within the Kulin Project, whilst recent exploration has identified clay hosted REE targets.
Contact Venture Minerals Limited
Suite 3, Level 3
24 Outram Street, West Perth
Western Australia 6005
P.O. Box 1175,
West Perth, WA 6872
t/ +61 (08) 6279 9428
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