Venture Minerals Sells Riley Iron Ore Mine in Tasmania

In a move streamlining their portfolio and aligning with their strategic refresh, Venture Minerals Limited (ASX: VMS) has completed the sale of its Riley Iron Ore Mine to Goldvalley Brown Stone Pty Ltd for $3 million. This divestiture frees up capital for Venture to focus on the priorities outlined by its recently appointed board. The sale proceeds will empower Venture to actively pursue new ventures and potentially higher-growth opportunities that align better with their long-term vision. This strategic shift signifies Venture's commitment to maximizing shareholder value by capitalizing on emerging market trends and leveraging its expertise in the resources sector.

Philippa Leggat commented that the sale of the Riley Iron Ore Mine, which attracted interest from 45 parties, resulted in the best offer from Goldvalley, a company specialized in operating smaller, lower-grade iron ore projects. This makes Goldvalley a suitable choice to take Riley into production.

Leggat also mentioned that the three million dollars received from the sale will be allocated to advance the Jupiter, clay-hosted rare earth project. The goal is to deliver a maiden resource estimate in the fourth quarter of this year. She highlighted that Jupiter project, discovered in less than a year after 22,000 meters of drilling, has shown consistently impressive results with broad widths of high-grade intercepts across the entire 40km² geophysical target area.

The board's strategic focus places Jupiter at the forefront, recognizing it as a prime opportunity to deliver significant value to shareholders. This strategy has been validated by institutional investors, who have secured major positions in our recent capital raising, demonstrating their confidence in the project. Consequently, Venture is well-funded to achieve its strategic objectives and is poised for success. There will be numerous updates and developments ahead, and the company is eager to share the progress and milestones of the Jupiter project with its shareholders, highlighting its potential and the value it is expected to generate.

 Venture Minerals has designed a comprehensive investor hub to keep stakeholders informed and engaged at every step of the company's growth. This centralized platform recognizes the importance of a strong investor relationship and aims to foster open communication.

Venture Minerals' investor hub goes beyond simply providing static information. It functions as a dynamic space for shareholders to access the latest project updates, pose questions to management, offer feedback on company initiatives, and actively participate in the company's journey. By prioritizing accessibility and fostering two-way communication, Venture Minerals positions itself as a company that values and respects its shareholder base. This commitment to transparency is likely to be seen favorably by current and potential investors, ultimately contributing to a stronger and more collaborative investor relationship.