Add to watchlist:

Only registered members can add into watchlist !

Register here !
Ventnor Resources
Deal Ventnor Resources Tax Free* Losses can exceed
your initial deposit
*subject to change and depends on individual circumstances.

Ventnor Resources (ASX: VRX) is a base metals exploration company with three key projects: Thaduna and Green Copper Projects, located 40 kilometres from Sandfire Resources' De Grussa project in WA, the Warrawanda and Nickel Hills Nickel Projects also in WA, and the Georgina Basin IOCG Project in QLD.

Historic mining at Thaduna produced...

Read more

Ventnor Resources secures key Mining Leases for Thaduna/Green Dragon

Ventnor Resources secures key Mining Leases for Thaduna/Green Dragon

Ventnor Resources (ASX: VRX) has marked a major milestone with the West Australian Minister for Mines  Bill Marmion granting Mining Leases for the Thaduna and Green Dragon copper project.

This places the company on track for a decision to mine in the September 2013 quarter.

Drilling results and a Resource upgrade for Thaduna are also expected to be released later in the current quarter.

Managing director Bruce Maluish the prompt granting of the Leases and connecting Miscellaneous Licenses was only possible with the cooperation of the Yugunga-Nya People throughout Native Title negotiations.

“That agreement was reached in four months since our original meeting, demonstrates the spirit of cooperation on both sides. Ventnor looks forward to working with the group as it moves toward the mining phase in the future,” he added.

The Native Title Agreement was reached in April 2013.

Mining Lease M52/1061 for Thaduna and Mining Lease M52/1060 for Green Dragon, which cover the previous Prospecting Licences P51/1253, 1254 and 1255 as well as P51/1256 respectively, will enable Ventnor to proceed with the development of the Thaduna/Green Dragon project as planned.

Ventnor was also granted Miscellaneous Licence L52/150, which applies to the area which covers the road connecting the Thaduna and Green Dragon Copper Projects as well as Miscellaneous Licence L52/149 for the area which covers the road connecting the project to the Neds Creek road 41 kilometres from the Great Northern Highway.
Thaduna/Green Dragon

Thaduna/Green Dragon is located in the Doolgunna district of Western Australia and has a current Resource of 142,000 tonnes of contained copper and 945,000 ounces of contained silver.

Deep drilling of seven holes targeting the Thaduna Prospect to upgrade this to between 175,000 and 200,000 tonnes of contained copper was successful in intersecting zones of copper sulphides with assays expected in four to six weeks.

An extra four diamond drill holes were also completed in the shallow zones adjacent to the Thaduna pit to provide samples for metallurgical testwork.

Extra flat shallow holes are planned in to zones directly below the historic pit which will require a specialised drill rig.

Mineralisation at Thaduna remains open at depth and along strike.

A Bankable Feasibility Study is currently underway and is scheduled for completion in the September quarter 2013.

This will focus on detailed mine planning, metallurgical testwork, processing options, confirmed contract rates and operating cost reduction initiatives.

The Scoping Study completed in February had indicated the project will deliver attractive economics with capital expenditure estimated at $70 million and the average operating expenditure expected to be around $1.75 per pound.

This is based on a mine that will produce 15,000 tonnes of contained copper per annum over a 10 year mine life, with high recoveries and concentrate value.

Ventnor is finalising terms for the provision of secured loan facilities totalling $2.74 million.

This will provide it with the necessary funds to finalise capital raising requirements and continue discussion in relation to potential offtake arrangements.


With the approval likely to assist a decision to mine in September quarter 2013, drilling results and a Resource upgrade for Thaduna expected later in the current quarter there is plenty of news flow and catalysts for value accretion in the coming months. With the share price levelling out provides entry opportunities.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.