Venture Minerals Raises $5.5 M Cap at Mt Lindsay Tin-Tungsten Target

Venture Minerals plans to raise $5.5 million through a placement and share purchase program (SPP) to fund a subsurface feasibility study and increased exploration efforts at its Mt Lindsay Tin-Tungsten Target.

The company will conduct a $4.25 million placement and a $1.25 million SPP at an offering price of $0.036 per share. This represents a 14.3% discount to the last closing price and a 19% discount to the volume-weighted average price.

Higher tin prices and recognition of tin as the base metal for the battery revolution realigned the company's approach to developing Mount Lindsay - one of the world's largest undeveloped tin-tungsten deposits.

Venture Minerals will use the funds to build a feasibility study team and seek additional drilling rigs to enhance exploration. Andrew Radonjic, managing director of Venture Minerals, said: "The time for tin is now”.

"This placement allows Venture to accelerate the update of the underground feasibility study at Mount Lindsay as part of our strategy to become an ESG compliant tin producer in the near future, while continuing to search for the next tin discovery in Australia's major tin districts."

"Tin is an EV metal, and Mount Lindsay is one of the largest undeveloped tin deposits in the world, and also has a significant tungsten resource." Radonjic added, "Tungsten is an important mineral, and governments around the world (including Australia) want to support the development of new deposits like Mt Lindsay Tin-Tungsten Target."

Tin is a key part of the green industrial revolution, with solar cells, electric vehicles, recycling, wind power, and energy storage all requiring tin. Prices are at an all-time high of around $38,000 per tonne, up 185% since 2016 and almost four times the price of copper.

Tungsten is also an important mineral because it is a key input to industries critical to national security, and its economic value hovers around $315 per ton.

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