Venture ventures into nickel and copper

  1. 4.6k
    Posts

    Venture minerals has entered into a joint venture (JV) with a private group to earn up to a 90% interest in the Ceasar nickel/copper project, in Western Australia.

    Venture will pay owner Muggon Copper an initial A$25 000 in cash and A$25 000 in shares upon the signing of a heads of agreement, and should the company elect to drill on the Ceasar project, a further A$25 000 in cash and A$25 000 in shares will be payable to Muggon.

    Under the terms of the JV agreement, Venture will spend A$1.5-million on exploration within the first three years, to earn a 51% interest in the project, with A$300 000 having to be spent within the first year.

    A further A$4.5-million will be spent on exploration on the following three years, to take Venture’s interest in the project to 75%.

    Once this point has been reached, Muggon could elect to either contribute or dilute its shareholding to a 10% interest upon the completion of a bankable feasibility study or definitive feasibility study.

    Once Venture has earned a 90% stake in the Ceasar project, Muggon must elect to either contribute or dilute its interest to a 1% net smelter return.

    Previous surface sampling at Ceasar has identified copper and nickel sulphides, and the geochemical anomalies extend over some 3 km of strike.

    “In assessing the potential of the Ceasar project, we were particularly pleased to see nickel and copper sulphides already identified in surface samples, a substantial surface geochemistry response and a coincidental gravity high,” said Venture MD Hamish Halliday.

    “We believe the Ceasar project offers Venture a cost-effective exposure to an exciting style of mineralisation,” he added.

    1 like
  2. 6.1k
    Posts

    Time to get on this baby. Production in a couple of weeks.

  3. 6.1k
    Posts
  4. 6.1k
    Posts

    I take it no one on Top stocks following VMS.

  5. 6.1k
    Posts

    This stock looks set for a take off, production nearing.
    It’s been a long time in the making. One of Australia’s richest Men involved.

    1 like
  6. 170
    Posts

    must be close now! haulage contract awarded last week.

    1 like
  7. 6.1k
    Posts

    Won’t be long for news on truck haulage .
    Also news on Drilling from Golden Grove Gold tenements.

  8. 170
    Posts

    now the SPP is done, and heavily over subscribed, we can get rolling again.

    1 like
  9. 170
    Posts

    and pop.

    any news on the protesters though?

    1 like
  10. 6.1k
    Posts

    The Protesters are long gone Now. 2 were arrested.
    Golden Grove ,Drilling to commence .
    This Company has some Great tenements ,so hopefully wont be long to see this all come together.

Your browser is too old for TopStocks and not secure. Please update your browser