mt lindsay promises massive revenue stream

http://www.theadvocate.com.au/story/767311/mt-lindsay-mine-promises-massive-revenue-stream/?cs=87

VENTURE Minerals' proposed Mount Lindsay mine near Tullah would generate more than half a billion dollars in net revenue, a study has found.

Much of the benefits would be pumped into the North-West and West Coast, according to Venture, with the company saying it is keen to benefit "stakeholders" in the region particularly.

Results from the bankable feasibility study into the project "represent an excellent outcome and confirm the long-term, high- value potential of Mount Lindsay", Venture told the ASX yesterday.

The study suggested the environmentally controversial project would have a mine life of nine years and would provide more than $550 million in net revenue (pre-tax), with "extensive exploration upside".

Venture is planning two mines for direct shipping iron ore in the Mount Lindsay area, plus the Mount Lindsay project itself, and is speeding up its exploration work at another deposit known as Big Wilson.

The three mine plans are opposed by environmentalists, led by the Tarkine National Coalition.

The TNC aims to attend Venture's annual meeting in Perth later this month and speak against the plans to shareholders.

(who will no doubt laugh and boo them out of the building)

Venture managing director Hamish Halliday said the company was delighted by the outcome of the Mount Lindsay bankable feasibility study.

"The study has emphasised the potential of the project, in particular its longevity," he said.

It showed the project would have a capital cost of $198 million and generate $554 million in pre-tax net revenue.

"With the project expected to deliver strong cashflow over a significant mine life, the development of Mount Lindsay will transform Venture into a prominent world producer of tin and tungsten, delivering returns to shareholders and benefiting stakeholders of the project alike, particularly those in the North- West," Mr Halliday said.