Page 40 - pd294-June21-mag-web_Neat

soUtHeRn stAtes

Prices pull Tassie tin

and iron back into focus

rampant iron ore price and resurgent Venture managing director Andrew the country, with $10 million raised after
A tin market could lead Venture Miner- Radonjic welcomes the market interest, exploration success at Kulin and Golden
als Ltd’s Tasmanian portfolio from forgot- particularly as it has allowed the compa- Grove in WA.
ten to flagship in the next six months. ny to progress work on several fronts. In “We had got the share price up to a
Venture has been active in Tasmania April, the company announced it would point where we can raise that last lick of
for more than a decade but having closed press ahead with a restart of Riley on cash under the 15% requirement,” Ra-
its Riley iron ore operation in 2014 and Tasmania’s West Coast. donjic said. “The reason the share price
iced its Mt Lindsay tin project in 2019, the Construction at the wet screening has got to where it has – the January
junior’s limited funds were redirected into plant was nearing completion at time of capital raising was done at 5.5c/share
its suite of burgeoning West Australian print, with Radonjic telling Paydirt 95% and we are now trading around 12.5c –
exploration assets. of structural steel had been erected and is because of the WA exploration, first at
Those exploration assets, including a 80% of mechanical installation complet- Golden Grove then at Kulin and then the
JV on the South West project with market ed. South-West project JV with Chalice.
darling Chalice Mining Ltd, have pushed Ironically, funding for the $6.5 million “It is a very diverse portfolio and it can
Venture shares from 0.8c in March 2020 restart was possible because of the ex- be heard to measure the value in Ven-
to beyond 10c a year later. ploration success on the other side of ture. We went to Perth brokers before

Page 40 JUNe 2021 aUSTRaLIa’S PaYDIRT