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Mt Lindsay Pre-Feasibility Study Results Announced 

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Mar. 3 -- Venture Minerals Limited has published summary results from a newly completed pre-feasibility study on its Mt Lindsay tin-tungsten-magnetite project in northern Tasmania. Compared to a scoping study published last May, the planned scale and capital cost of the project is now slightly larger, and a 29% internal rate of return is forecast based on &ldquo;conservative&rdquo; assumptions that prices over the eight year life of the mine will be 20% lower than current spot prices. Total capital costs are estimated at A$162 million for a mainly open pit operation with an ore throughput of 1.3 million tpy. ITRI estimates that annual production capacity of tin-in-concentrates is some 3,700 tpy.
Venture Minerals Managing Director Hamish Halliday commented: &ldquo;The successful completion of the prefeasibility study represents a major achievement for the Company and is a very important milestone in the development of the Mt Lindsay Project. &ldquo;Following completion of the PFS, we can now commence a Bankable Feasibility Study as well as continuing to maintain an aggressive approach exploration. We are fully funded for the coming year with A$25 million in cash and currently have six drill rigs on site.&rdquo; 
Subject to the completion of the BFS and arrangement of financing, the mine could start up in 2013. The company has engaged Penfold Limited, a major player in the Chinese tin concentrates market, to assist in product marketing and sales.
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