Venture ventures into nickel and copper
PERTH (miningweekly.com) – ASX-listed Venture Minerals has entered into a joint venture (JV) with a private group to earn up to a 90% interest in the Caesar 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 Caesar 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 in 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 Caesar project, Muggon must elect to either contribute or dilute its interest to a 1% net smelter return.
Previous surface sampling at Caesar has identified copper and nickel sulphides, and the geochemical anomalies extend over some 3 km of strike.
“In assessing the potential of the Caesar 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 Caesar project offers Venture a cost-effective exposure to an exciting style of mineralisation,” he added.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...
VISIT SHOWROOM
The Steel Tube Export Association of South Africa was established to develop sustainable, internationally competitive carbon steel tube and pipe...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
