Venture Minerals sells iron ore mine to drive progress at Jupiter

Philippa Leggat, Managing Director of Venture Minerals (ASX:VMS), discusses the company’s recent divestment of the Riley Iron Ore Mine in Tasmania. This will see Venture Minerals earn over $3 million, bringing cash on hand to about $5 million, approximately 10% of the company’s market cap.

Leggat explains that these funds will advance the Jupiter Rare Earths Project, highlighting its potential due to the low exploration costs and significant progress. Future steps include receiving final assay results, 3D mineral mapping, metallurgical testing, and producing a mineral resource estimate.

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Written By Shae Russell

Shae has been an equities analyst with a focus on investment writing for 15 years; the last eight of which has centred on the domestic and international mining sector. She’s now bringing this expertise to enhance and strengthen Mining.com.au‘s role as Australia’s leading source of mining news.

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