Long over-looked Venturex now popping up on investor radars, says Stockhead
13th April 2018
Resources Rising Stars
Venturex Resources (ASX: VXR) is attracting investor attention as it pushes to become a Pilbara copper-zinc producer under the leadership of a new Managing Director, writes veteran resources writer Barry FitzGerald in his weekly Garimpeiro column in Stockhead.
“Strong copper and zinc prices are behind the group’s new found pep, as is the recent appointment as managing director of well-regarded mining engineer Ajanth (AJ) Saverimutto,” FitzGerald wrote in his widely-circulated column.
FitzGerald is the first Australian journalist to interview the Saverimutto, who joined the Perth-based junior this week.
“AJ is a builder of things — not unlike two of his former classmates at the WA School of Mines in Kalgoorlie, Bill Beament and Stuart Tonkin who head up 19 per cent Venturex shareholder Northern Star,” he said.
“AJ is best known for leading the privately-owned group that acquired the mothballed Beta Hunt nickel-gold mine near Kalgoorlie and returned it to production ahead of the revitalised operation being acquired by Canada’s Royal Nickel Corp in 2016.”
FitzGerald quotes “AJ” as saying: “It (Venturex’s Sulphur Springs Project) has got the right grade and scale attributes, and it’s had a huge amount of work done on it over the years when metal prices were not so favourable. It is pretty close to being shovel-ready now.’’
“AJ’s excitement about his new gig is not reflected in the market’s current rating of Venturex.
“At its last sale price of 1.2c a share for a market value of $43 million, Venturex has been left behind in the valuation stakes by its ASX copper and zinc peers.
“That is despite the development-ready status of Sulphur Springs at a time of bumper zinc prices, and stronger copper prices.”
FitzGerald says Venturex is moving towards some key de-risking events, including arranging project finance. At the same time, it is about to kick off an exploration program to test nine likely electromagnetic geophysical targets located along a 27km strike length of the Panorama VMS trend.
“The renewed greenfields exploration effort after years of absence is bound to be closely watch given the telling impact a new find could have on the Sulphur Springs project economics,” he said.
To view a full copy of the Barry FitzGerald story, click here.
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