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CoULd The LACk of esG-CompLiAnT Tin partner Chalice Mining Ltd unearths at the “Julimar-lookalike”
sUppLy AffeCT The pACe of enerGy South West nickel-copper-PGE project where maiden drilling
TrAnsiTion? recently commenced along the 20km long magnetic trend at
– WOOD MACKENZIE’S JULIAN KETTLE the Thor prospect.
Chalice can earn 51% of the project, about 240km south of
Perth, by spending $1.2 million and a further $2.5 million for
70%. Should the company spend the $3.7 million on exploration
“The world has plenty of tin sources but most of it comes from by 29 July 2024, Venture will then have the option to maintain its
some very high-risk jurisdictions, so with us being in Australia 30% equity position.
and having access to hydropower – Mount Lindsay is located “We did this deal back in July 2020, just a few months after they
between two dams on the north-west coast of Tasmania – this made the Julimar discovery,” Radonjic said. “We’re benefitting
is a very unique asset,” Radonjic said. from them applying their IP from that discovery on our ground.
“We are unashamedly targeting ESG tin production. We are There were some obvious targets for them to test initially, but
looking to develop an underground mine which is not only go- they’ve also started generating the next lot of targets down
ing to be far easier to permit than an open pit but to electrify the there so it’s certainly one to watch.”
operation. Also in WA, Venture has an EM survey planned for its Kulin
“If the world is looking for ESG-compliant tin, the Mount Lind- nickel-copper-PGE and gold project during the second half of
say project ticks a lot of those boxes.” the year. A former BHP Ltd project, it is hosted in the same gold
Venture also continues to monitor the iron ore price with the province as the likes of Boddington (+30 moz), Edna May (2.2
company confident it can both quickly and easily restart min- moz), Katanning (1.2 moz) and Tampia (700,000oz).
ing activities at the nearby Riley DSO mine upon improved mar-
ket conditions.
When iron prices spiked last year, Venture was able to send
away one DSO shipment before placing Riley back on care-
and-maintenance. Radonjic said the company had identified a
further five shipments which would be quick to market when
the price is right.
“We have a scenario now where should a favourable pricing
environment appear, then we could get a mobile crushing and
screening plant down there and start processing in a matter of
days,” Radonjic said. “We’ve actually got a third of a shipment
sitting on a pad now so we could almost book a ship immedi-
ately and truck it up to the port.
“If the price goes and breaks through $US200/t again, we will be
ready. From just two or three ships, we could easily make $5-10
million which we can put straight back into our work at Mount
Lindsay. It’s the perfect cash cow.”
In Western Australia, Venture is keeping a close eye on what JV

if The worLd is LookinG
for esG-CompLiAnT Tin, The
moUnT LindsAy projeCT
TiCks A LoT of Those boxes.
– VENTURE MANAGING DIRECTOR
ANDREW RADONJIC

boArd And mAnAGemenT Venture minerals Ltd (Asx:Vms)
suite 3, Level 3, 24 outram street
mel Ashton (non-executive chairman) west perth wA 6005
Andrew radonjic (managing director)
john jetter (non-executive director) phone: +61 (08) 6279 9428
jamie byrde (company secretary & Cfo) email: admin@ventureminerals.com.au
dr stuart owen (exploration manager)

VenTUreminerALs.Com.AU