Venture's Riley project was suspended in September due to appeal-driven delays in project approvals and weaker iron ore prices.
"Despite the decision to suspend operations, the company has completed extensive preproduction work at the Riley project over the past 18 months," Venture told the ASX in its September quarterly report.
"This work affords Venture the opportunity to commence production on relatively short notice and take advantage of any future appreciation in the iron ore price."
Venture also hopes to develop a major tin-tungsten project at Mount Lindsay, near Tullah.
It identified three new tin targets within two kilometres of the Mount Lindsay deposit during the quarter.
Venture said it remained a party to an environmentalist appeal against a Federal Court decision to uphold environmental approvals for Riley.
"In addition, the company is actively seeking to recover all legal costs (from Save the Tarkine) associated with past and present legal challenges."
Environmental group Save the Tarkine's actions served to delay the Riley project until the lower iron ore prices had kicked in.
Venture had $5.2 million in cash as at September 30 2014.