View Resources (VRE)

Shares / Stock Code

VRE

Stock Exchange / Sharemarket

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View Resources (VRE) is a nickel and gold mining and exploration company. The company is focused on production from its Carnilya Hill and Zone 29 projects, situated in Western Australia. Other exploration projects include the Bronzewing Project located in the North Eastern Goldfields region of Western Australia and the Coogee gold project, south of Carnilya Hill. View Resources was listed on the Australian Securities Exchange (ASX) on 24 March, 1988.

This company was first listed in March 1988 as Growth Resources NL, involved in gold exploration. In 1999, it changed its name to IHG and purchased two fledgling technology companies. In November 2000, it changed its name to Smartworld Corporation Limited (SWC). Finally in early 2002, the company again changed its name to View Resources (VRE), refocusing on mineral exploration. Mining at the Carnilya Hill Mine commenced in November 2003. VRE shares are traded on the Australian stock market.

The Carnilya Hill tenement provides VRE with a low-cost entry into the junior nickel producing sector. VRE uses the BHP Billiton developed Geoferet technology to identity potential mine targets to expand its resource base at Carnilya Hill and prolong the life of the existing mines.

Concentrates from the mining industry are generally sold to smelters in the main markets of Asia, Europe and North America. For metals, sales agreements tend to be short term and therefore subject to price fluctuations according to global price trends. The mining industry is a global industry, which is highly competitive. VRE competes with various gold and nickel explorers and producers, such as AngloGold Ashanti Limited (AGG), Cazaly Resources (CAZ) and Ausquest Limited (AQD).

During the fiscal year ended June 30, 2007 (fiscal 2007), involved the recommissioning of operations and the production of gold bullion from the Bronzewing mine. As of June 30, 2007, 1,731 ounces of gold had been produced, with 772 ounces being shipped and sold to AGR Mathey at the spot price. No nickel ore was produced or sold during fiscal 2007 from the Carnilya Hill mine.