Venture Minerals Ltd has engaged Argonaut PCF as advisor to undertake a strategic review of the Riley Iron Ore Mine in Tasmania
Argonaut PCF is a specialist natural resources advisor with leading expertise and a proven track record of assisting metals and mining companies to critically assess and optimise the value of assets.
The review follows the recent lapse of an offtake agreement with Prosperity Steel, which allows the company to now consider all options in relation to the future of the Riley mine.
Potential restart
The strategic review will include an initial assessment of the project including a potential restart, joint venture or an asset sale, focusing on delivering near-term value for the company and its shareholders.
Venture said that interest in the project from third parties including potential offtake and joint venture partners had increased in recent months while the iron ore price remained strong.
The company will consider the full range of pathways to unlock the commercial value of the project for its shareholders.