Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Venturex Resources' DFS serves up robust economics for Pilbara Copper-Zinc Project  Join our daily free Newsletter

MENAFN - ProactiveInvestors - Australia - 18/12/2012

No. of Ratings : 0
Add to Mixx!


(MENAFN - ProactiveInvestors - Australia) Venturex Resources (ASX: VXR) has completed a Definitive Feasibility Study confirming the robust economics of its Pilbara Copper-Zinc Project.

This has found that the project could produce 16,500 tonnes of copper, 30,000 tonnes of silver and 200,000 ounces of silver per annum throughout the mine life of at least 8.5 years - based on the increased Ore Reserve of 8.37 million tonnes at 1.8% copper, 4% zinc and 21.5 grams per tonne silver.

Pre-production capital costs are estimated at about A279 million while forecast earnings before interest, tax, depreciation and amortisation is A548 million.

Earnings before interest and tax has also been estimated at about A234 million.

Venturex said the results confirm its decision to locate the project at Sulphur Springs, with 85% of the Ore Reserve drawn from the deposit there.

The DFS provides for all operations to be totally focused at the Sulphur Springs deposit for the first 6.5 years of the project before transitioning to a blended ore supply from the Whim Creek area in the later stages of the project.

Further upside is likely as the DFS incorporates only three of the six known mineral resources currently controlled by the company in the Pilbara region.

The proximity of the recently acquired Kangaroo Caves resource provides an excellent brownfields exploration target and potential future ore supply for the processing hub at Sulphur Springs.

Preliminary modelling indicates that the additional resources could produce a potential project life in excess of 11 years at the currently planned throughput rate.

Venturex has commenced work on the project approvals and the financing strategy for the Pilbara Copper-Zinc Project.

It is anticipated that the required Western Australia Government approval documentation will be completed and submitted in late February 2013, with Government project approvals are expected to be completed in mid-late 2013.


  MENA News Headlines

Live Currency Rates



Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Investment Game
Economic Calendar
Financial Glossary

Portfolio Tracker


Financial Calculators

RSS Feeds [XML]

Corporate Monitor


Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters

© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help