Venturex Resources has completed a Definitive Feasibility Study confirming the robust economics of its Pilbara Copper-Zinc Project.This has found that the project could produce 16,500 tonnes of copper,30,000 tonnes of silver and 200,000 ounces of silver per annum throughout the mine life of at least 8.5 years based on the increased Ore Reserve of 8.37 million tonnes at 1.8%copper,4%zinc and 21.5 grams per tonne silver.
Pre-production capital costs are estimated at about AUD 279 million while forecast earnings before interest,tax,depreciation and amortisation is AUD 548 million.
Earnings before interest and tax has also been estimated at about AUD 234 million.
Venturex said the results confirm its decision to locate the project at Sulphur Springs,with 85%of the Ore Reserve drawn from the deposit there.
The DFS provides for all operations to be totally focused at the Sulphur Springs deposit for the first 6.5 years of the project before transitioning to a blended ore supply from the Whim Creek area in the later stages of the project.
Further upside is likely as the DFS incorporates only three of the six known mineral resources currently controlled by the company in the Pilbara region.
The proximity of the recently acquired Kangaroo Caves resource provides an excellent brownfields exploration target and potential future ore supply for the processing hub at Sulphur Springs.
