VMC Gold

Venus has a 400k oz au share of the Younami Gold Mine 1.2 m oz au JORC

Including a 220K oz au share of the high grade Younami Deeps

VMC also owns approx a 100K au share of Grace, a shallow gold oxide deposit with a very high au recovery.
The Grace JORC will be available next month.

Younami operator RXL plans near term production of the Grace resource.
The AISC for Grace gold will be very low given it is a shallow high grade resource from ground level to 80m.
It is an ideal resource to be mined using open pit tech.

VMC’s share of the Grace resource could be worth up to $200m

In a TO scenario based on the RMS TO of SPX, Grace could be worth around $70m to Venus.

The Market Cap of Venus is just $46m

Venus also gets a 33 % share of a second bonanza grade resource under Grace (results to date include visible gold with more pending)

Toll processing at the RMS Mt Magnet is one low capex option.

VMC will get 1/3 of the profit as a near term cash flow.

NEXT: Future prospects for Venus exploration