Some excerpts from annual report:
-Venturex is in the final stages of completing a Definitive Feasibility Study (DFS) for its flagship Sulphur Springs Copper-Zinc Project (expected completion at the start of Q4 CY2018)
-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)
-base case development scenario from the Value Engineering Study (VES) in 2017:
>mining and processing at a rate of 1Mtpa to produce approximately 12,000t of copper and 32,000t of zinc in separate concentrates annually
>base case development scenario derives a cash flow of A$601M pre-tax NPV8% of A$338M and an IRR of 52%
With our chairman's words:
"Looking to the year ahead, our major focus will be on securing a suitable financing package to launch the Sulphur Springs development, as well as progressing our regional exploration programs aimed at expanding the Sulphur Springs Resource and mine life."
One other detail was well pointed in his words imo:
"One of the largest cost savings has been delivered through the strategic acquisition of a 100-room camp and associated infrastructure. Venturex was able to acquire the camp for $1 million, and then lease it on a short-term basis to a mining services group for $1 million. Additional capital cost savings are expected to be crystallised as part of the final DFS."
VXR Price at posting:
16.5¢ Sentiment: Buy Disclosure: Held
