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venus metals corp ltd (VMC) Snapshot

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venus metals corp ltd (VMC) Details

Venus Metals Corporation Limited is engaged in the exploration of mineral tenements in Western Australia. The company primarily explores for iron ore, base metals, diamonds, gold, and other minerals. Its projects include Yalgoo Iron Ore project located in Mid-West Iron Ore Province; Yalgoo Nickel project located in Gossan Island; and Copper Hills project located in East Pilbara region of Western Australia. The company is based in Perth, Australia.

venus metals corp ltd (VMC) Top Compensated Officers

Managing Director, Company Secretary and Non ...
Total Annual Compensation: A$329.8K
General Manager of Operations and Executive D...
Total Annual Compensation: A$162.2K
Compensation as of Fiscal Year 2014.

venus metals corp ltd (VMC) Key Developments

Venus Metals Corporation Limited, Annual General Meeting, Oct 01, 2014

Venus Metals Corporation Limited, Annual General Meeting, Oct 01, 2014.

Venus Metals Corporation Limited Announces Consolidated and Parent Entity Earnings Results for the Year Ended June 30, 2014

Venus Metals Corporation Limited announced consolidated and parent entity earnings results for the year ended June 30, 2014. For the year, on consolidated basis, the company reported revenue of AUD 544,819 against AUD 391,083 a year ago. Loss before income tax was AUD 1,741,155 against AUD 3,963,992 a year ago. Net loss attributable to owners of the company was AUD 1,396,188 or AUD 0.028 per basic and diluted share against AUD 3,235,335 or AUD 0.064 per basic and diluted share a year ago. Net cash flows used in operating activities was AUD 1,068,603 against AUD 2,742,939 a year ago. Acquisition of plant and equipment was AUD 840 against AUD 573 a year ago. Exploration expenditure was AUD 439,906 against AUD 1,896,387 a year ago. For the year, parent entity basis, the company reported loss for the year of AUD 1,396,188 against AUD 3,235,335 a year ago.

Venus Metals Corporation Limited Reports Completion of RC Drilling and Assays on All Three DSO Drilling Target Areas

Venus Metals Corporation Limited reported that RC drilling and Assays have been completed on all three DSO drilling target areas. In total 36 drill holes were drilled for 998 metres in three different target areas (CID, Bedded mineralisation and Detrital). The "exploration target potential" quantity and grade is conceptual in nature, that there has been insufficient exploration to estimate a Mineral Resource and that it is uncertain if further exploration will result in the estimation of a Mineral Resource (JORC Code, 2012). The drilling service was provided by McKay drilling. One metre samples were collected using cone splitter. Only potential mineralisation samples were submitted to SGS laboratory, Perth for standard iron ore suite analysis and detrital test work. Target area 1 (Channel Iron/Pisolite mineralisation): The CID mineralisation is outcropping on the surface in a creek system. In total 15 drill holes had encountered CID mineralisation out of 25 holes drilled. The thickness of CID mineralisation varies from 2 to 10m. The average thickness of CID mineralisation is approximately 6m. The CID mineralisation domain consists of five different types of materials. They are Hard cap CID, Primary CID, CID with clays, Low Grade CID or Unbedded Goethite CID. The length of CID mineralisation is 1600m and the width varies from 100 to 300. The average width of the CID is approximately 150m. Approximately 1200m of CID mineralisation is at the surface or with less soil cover. In total 93 drill samples with CID mineralisation were tested for iron percentage and other impurities. The average grade of CID material is approximately 36% Fe and high grade is 50.8% Fe. Flowever all the assay results of CID samples have high impurities such as silica and alumina. Most of the impurities are in the matrix and it is in the form of Gibbsite.


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