The Venture Minerals Limited (ASX: VMS) share price is struggling this week despite the company’s silence.
Since it finished last week’s trading for 9.2 cents apiece, Venture Minerals’ stock has fallen 6.52%.
Right now, the Venture Minerals share price is 8.6 cents.
Let’s take a look at what might be driving the company’s shares lower this week.
A quick refresher
Venture Minerals is a mineral explorer in the early stages of production.
The company mines iron ore at its Tasmanian Riley Ore Mine, with its first shipment due this month.
Additionally, Venture Minerals is exploring for tin and tungsten at the Mount Lindsay Project in Tasmania. According to Venture, Mount Lindsay is one of the world’s largest tin deposits.
It also has projects focused on gold, copper, nickel, and other minerals in Western Australia.
What’s Venture Minerals been up to lately?
Venture Minerals has maintained silence as its share price plummets this week.
However, last week was a busy one for the company.
Last Wednesday, Venture announced a drilling campaign at Mount Lindsay had successfully found a new skarn system. The skarn system is potentially tin bearing and is located nearby the Renison Tin Operation. The company stated Renison was one of the world’s largest and highest-grade tin mines.
The Venture Minerals share price gained 7% after the company announced the discovery.
Not to mention, over 25 million of the company’s shares were traded last Wednesday. For comparison, the average month sees around 16 million Venture shares swapping hands.
Then, Venture Minerals unveiled its New World Metals Conference presentation on Thursday.
Despite the presentation containing plenty of seemingly positive news, Venture Minerals’ shares fell 4% the day it was released.
Venture Minerals share price snapshot
Despite its poor performance this week, the Venture Minerals share price is well and truly in the ASX green.
Right now, the company’s share price is 76% higher than it was at the start of 2021. It has also gained 193% since this time last year.
Should you invest $1,000 in Venture Minerals right now?
Before you consider Venture Minerals, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Venture Minerals wasn’t one of them.
The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
*Returns as of August 16th 2021
- Apple’s App Store case: What investors need to know
- Ethereum price climbs as competitor’s blockchain suffers outage
- Why the Uniti (ASX:UWL) share price will be on watch today
- 3 reasons this broker says the South32 (ASX:S32) share price is a buy
- Pilbara Minerals (ASX:PLS) share price on watch as lithium prices boom
Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.
The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
from The Motley Fool Australia https://ift.tt/2XhQPmp