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Date : 22/04/2021

Venture Minerals (ASX:VMS) shares soared with new annoucement

Venture Minerals Ltd (ASX: VMS) is entering an exciting phase as it looks to move from explorer to producer with production at the Riley Iron Ore Mine in northwest Tasmania. At the neighbouring Mount Lindsay Tin-Tungsten Project, higher Tin prices and the recognition of Tin as a fundamental metal to the battery revolution has refocused Venture’s approach to developing Mount Lindsay. Already one of the world’s largest undeveloped Tin-Tungstendeposits, the Company has commissioned an Underground Scoping Study on Mount Lindsay that will leverage off the previously completed feasibility work.

This morning, Venture Minerals shares have been extremely upbeat and closed 21.8% higher at $0.078 a share.

The shares were high on the company making a significant announcement. The construction of the Wet Screening Plant is closer to completion. Venture Minerals revealed that 95% of the structural steel has been erected, 80% of the mechanical installation has been completed, and installation of the plant’s piping in the final stage before commissioning has commenced.

Iron ore prices have been strong throughout 2020 and into 2021 with the outlook for the rest of the calendar year remaining positive due to continued demand generated by Chinese government infrastructure spending and ongoing supply concerns from Brazil.

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