Congrats htn2 on your first 3 mln shares and ALL the real VMS Holders on our excellent assets and v. professional presentation by our impressive Leader Andrew Radonjic!
On the first reading ... I am so proud as a holder of the outstanding projects we have collected so far... All are on v. fertile tenements... but today I have a feel that Golden Grove may become a subject of our next JV or buyout??? based on the fact that cashed up producer have 10 year resource and we have the most prospective tenements next door?:
"In February 2017, EMR Capital purchased Golden Grove for $US210 million, since then EMR has
invested more than A$230 million in Golden Grove2 and in June 2021 EMR included Golden Grove as the
flagship asset of the ASX listing for 29 Metals where the Prospectus for the Initial Public Offer was to raise
A$528 million which was listed on 2nd July 2021. The 29 Metals Prospectus states that after 30 years of
continuous production there is over 10 years of mine life in reserves for the 1.8Mt per annum operation2
.
The Prospectus also stated that Golden Grove has a number of in-mine and near-mine growth opportunities
including Cervantes2
(Mineral Resource: 2.3 Mt @ 1.1% Cu, 6.9% Zn, 0.5g/t Au, 34g/t Ag), Xantho Extended
and Europa2
(Mineral Resource: 9.0 Mt @ 8.1% Zn, 1.9% Cu, 34g/t Ag, 0.9g/t Au), Oizon2
(Mineral Resource:
3.4 Mt @ 2.3% Cu, 2.1% Zn, 26g/t Ag, 0.5g/t Au; open at depth), Gossan Valley2
(Mineral Resource: 6.1 Mt
@ 0.9% Cu, 6.7% Zn, 0.5g/t Au, 16g/t Ag) and Xantho Extended North2
(Priority target for exploration at Golden
Grove). As of 30 June 2020, the Golden Grove Mineral Resources was 58Mt @ 1.6% Cu, 0.7 g/t Au, 4.5%
Zn, 30 g/t Ag & 0.3% Pb.
Regarding the confusion of the "prominent" posters which have no time to read / research and all the time and "agenda" to post negative / abusive dribble (first shipment of any commodities are rarely profitable for obvious reason, but on top of all the fair costs in Australia we are dealing with a horrible prohibiting freight and containers cost ... some other producers quoting 5X higher than only 6 months ago) :
Corporate
As at 30 September 2021, the Company had $9,029,000 cash on hand, following payments of:
• $702,000 on exploration activities (refer to Item 1.2(a) of Appendix 5B), relating to field
activities costs, tenement fees and rates, and geological staff costs at Mt Lindsay and Kulin
(ASX Listing Rule 5.3.1); and
• $2,009,000 on development activities (refer to Item 1.2(b) of Appendix 5B), relating
operational costs for the Riley Iron Ore Mine of $5.6m, being offset by the funds receipts
from first shipment of Iron Ore amounting to $3.6m. (ASX Listing Rule 5.3.2).
• $198,000 of payments made to related parties or their associates (refer to Item 6.1 of
Appendix 5B) including (ASX Listing Rule 5.3.5):
- Directors’ fees, salaries, superannuation and consulting fees of $139,000; and
- Office recharges including rent and share service charges of $59,000 to related
entities of which the directors directly do not receive a financial benefit and are on
an arm’s length basis.
Detailed information on all aspects of Venture Minerals’ projects can be found on the Company’s website
www.ventureminerals.com.au.
Authorised on behalf of the Board of Venture Minerals Limited
Andrew Radonjic
Managing Director
Competent Person’s Statement"
GLTArealH
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