Latest news with #VenusMetals
West Australian
05-05-2025
- Business
- West Australian
Venus locks in $52,500 grant for Murchison copper drilling program
Venus Metals subsidiary Redscope Enterprises has locked in a $52,500 WA Government Exploration Incentive Scheme (EIS) co-funded grant towards drilling costs to test its Pincher copper-zinc project, which is part of the company's Youanmi base metals project in Western Australia's Murchison region. The grant for the maximum amount applied for of $52,500 will cover 50 per cent of the co-funded diamond drilling costs and up to $5000 in drill rig mobilisation costs. Venus plans to plunge the drill bit into a previous reverse circulation hole drilled to a depth of 150 metres as a pre-collar. A follow-up diamond tail will test a conductor of 5000 siemens at 400m depth. Drilling costs are reduced because the pre-collar hole tested the first 150m of a much deeper hole. The company's diamond drilling program is expected to begin in June. Venus will take the opportunity to obtain core samples for metallurgical testwork planned on its zinc mineralisation identified within two holes and will complete downhole electromagnetic surveying. The EIS initiative was launched in 2009 to encourage exploration in WA and to trigger private sector resource exploration for new mineral and energy discoveries. Venus conducted ground gravity surveys on its ground across the prospective northern extension of its Pincher North Dome base metal find, which is considered to be a volcanogenic massive sulphide (VMS) system. The company encountered several gravity anomalies in the system, which contains copper, zinc and lead mineralisation. Subsequent moving loop electromagnetic survey lines were flown across the gravity anomalies using a Jessy Deeps SQUID sensor at low base frequency to achieve a maximum investigative depth. The SQUID sensor is an ultra-sensitive receiver for ground transient electromagnetic measurements with supposed unrivalled sensitivity. It can record data up to 10 times longer or three times deeper than conventional coil receivers. Management says a broad late-time response was evident on one line and modelled at 400m depth as a flat-lying, high-conductance plate at 5000 siemens, a unit of conductive measurement to determine how well a material allows electricity to flow through it. It believes the modelled plate is significant and is champing at the bit to test it in the upcoming co-funded drill program. Previous solid results at Pincher include gold hits at the Linda Gossan prospect, where the company has a 50 per cent interest through a joint venture in the regional gold rights, intersecting 9m at 15.6 grams per tonne (g/t) gold from surface, including a 3m hit of 35.2g/t from 1m. Venus is in the enviable position of holding 55 million shares in gold explorer Rox Resources. Those shares are currently valued at near $17M. Venus last week revealed a high-tech collaboration with leading science research organisation CSIRO to ramp up the hunt for more gold in WA's richly endowed Sandstone region. The company has inked a deal through the CSIRO's Kick-Start program, securing a $47,426 voucher to fund a six-month research project to home in on gold and copper alteration zones at the Bellchambers deposit, within its Sandstone gold deposit. Venus plans to use a combination of hyperspectral satellite imagery, downhole scanning and handheld spectrometers to rigorously map the deposit's mineral system with highly detailed 3D accuracy. Sitting 23 kilometres southwest of the historic Sandstone gold-rush township and 70km from Rox Resources' Youanmi gold mine, Bellchambers has a modest but promising gold resource of 722,000 tonnes grading 1.31g/t gold for 30,500 ounces. The company is conducting a 2000m reverse circulation drilling campaign that will plunge 26 holes into the prospective ground to test for gold outside the known resource and around the Bellchambers deposit. All the reverse circulation chips and core samples will feed directly into the CSIRO's project to refine its advanced minerals mapping. The CSIRO collaboration comprises next-generation hyperspectral satellite sensors that can scan the Earth's surface in unprecedented detail, creating mineral maps that dovetail with subsurface data from Venus' drilling program. By integrating HyLogger-3TM downhole imagery and surface spectrometry, the project aims to generate a holistic view of the mineralising system, potentially kicking-up new gold-copper zones across the 125 square kilometre tenement. Wisely, Venus has targeted the available government funding to help it pursue a coveted potential, new copper-zinc deposit in WA. Is your ASX-listed company doing something interesting? Contact:
West Australian
22-04-2025
- Business
- West Australian
Venus Metals claims sleeper stock status with royalty stream and gold
In a market where exploration hopefuls rise and fall on speculation, Venus Metals is quietly stacking up serious value with shares in a soon-to-be producer and a rich royalty stream. At the heart of the story is the company's shareholding in Rox Resources - an emerging WA gold producer -which is valued at $20.9 million, astonishingly eclipsing Venus' market capitalisation of just $19.4M. Added to its 55 million shares in Rox, Venus also holds a 1 per cent royalty over Rox's Youanmi gold mine - a project now barrelling toward first gold in early 2027. The royalty was independently valued at $9.5M at a 40 per cent lower gold price of US$2000 (A$3155) in June last year. With gold blowing through $5300 an ounce, it could deliver Venus a golden cash stream for years to come. But the company's Rox exposure is only half the tale. Venus is also pushing forward with some high-impact exploration plays across WA, from gold and copper to critical minerals. At the company's Sandstone gold project 70 kilometres from Youanmi, the Bellchambers deposit hosts a JORC resource of 30,500 ounces. Management says a newly lodged mining lease and ongoing talks with Rox on a mine gate sale agreement could set the scene for near-term development. A reverse circulation and diamond drilling program will kick off next month to push parts of the resource into the measured category and pit optimisation and metallurgical work is already lined up. Venus' Henderson gold project, northwest of Menzies, is shaping up as another standout. Early drilling below old workings at the historic Hilltop mine hit a screaming 4 metres at 10.3 grams per tonne (g/t) gold, including a 1m hit at 25.1g/t. Rock chip sampling around the site has thrown up grades as high as 77g/t. Plans are being hatched for a second drilling campaign. Over at Youanmi, Venus is chasing more than gold. A ground survey recently lit up a potentially massive 5000 Siemens copper anomaly that will be the focus of reverse circulation and diamond drill testing in coming weeks. Shallow zinc already discovered in the area is being prepped for infill drilling and a potential resource update. On the corporate front, the company has inked a $6M farm-in joint venture with major IGO Ltd right next door to the Greenbushes lithium mine. Spodumene crystals have been spotted at the Cow Slip and Flying Duck prospects, with fresh gravity surveys refining drill targets. Venus is also building a back-pocket portfolio of specialty assets - including a calcrete deposit near Youanmi that could supply acid neutralisation material to Rox's gold plant and the company has filed a provisional patent at a titanium-vanadium-iron play with breakthrough hydromet potential. With the inclusion of cash and liquid investments now piling up to a total of $21.6M and no debt, Venus Metals is sitting on an astonishing negative enterprise value, which appears to make it a rare ASX unicorn hiding in plain sight. As gold prices continue to tailwind higher, Venus has multiple drill programs underway and a pipeline of near-term catalysts, possibly creating one of the most undervalued and leveraged gold juniors on the boards. Is your ASX-listed company doing something interesting? Contact:
Yahoo
18-03-2025
- Business
- Yahoo
Venus Metals First Half 2025 Earnings: AU$0.01 loss per share (vs AU$0.17 profit in 1H 2024)
Net loss: AU$1.86m (down by 106% from AU$32.4m profit in 1H 2024). AU$0.01 loss per share (down from AU$0.17 profit in 1H 2024). All figures shown in the chart above are for the trailing 12 month (TTM) period Venus Metals shares are up 25% from a week ago. We should say that we've discovered 3 warning signs for Venus Metals (2 make us uncomfortable!) that you should be aware of before investing here. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
