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Venari Minerals NL (ASX:VMS)

ALERT: Price-sensitive ASX Announcement for VMS
Current share price for VMS : $0.088 -0.067 (-43.23%)+
Announcement
Release
24 Apr 2026 5:22PM
Price at Release
$0.155
Full Release
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Summary
Venari Minerals NL has reported on its activities for the quarter ending 31 March 2026, highlighting the Red Mountain Lithium Project in Nevada. The project achieved a maiden JORC Inferred Mineral Resource Estimate of 500Mt at 1,139ppm Li, amounting to 3.03Mt contained Lithium Carbonate Equivalent (LCE). The company also emphasized the successful outcomes of recent drilling campaigns, which identified strong lithium mineralization across 6,015.6 meters of drilling, and positive metallurgical test results indicating high lithium leachability. An improved beneficiation process was noted, boosting lithium concentrations through pre-soaking prior to attrition scrubbing. In financial matters, the quarterly cash flow report detailed a net cash decrease from operating and investing activities, with significant exploration expenditure highlighted. Venari Minerals executed a share buyback to streamline its share register, reducing compliance costs.
Key Points
  • Maiden JORC Inferred Mineral Resource Estimate for Red Mountain: 500Mt @ 1,139ppm Li for 3.03Mt LCE.
  • Significant lithium mineralization discovered through 6,015.6 meters of drilling.
  • Positive metallurgical test results with up to 98% lithium leachability.
  • Improved beneficiation process with increased lithium recovery to 68.9%.
  • Quarterly cash flow report shows net cash decrease, with exploration as significant expenditure.
  • Successful share buyback of unmarketable parcels to reduce compliance costs.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.