- WA explorer Venture Minerals (VMS) has entered a trading halt ahead of a capital raise
- At this stage, it is unclear how much will be raised or what the funding will be used for
- However, Venture has just begun a maiden diamond drilling program at its Kulin Project and will continue drilling at its Golden Grove mine soon after
- Whether or not the money will support drilling efforts is not yet known
- Venture will remain in the trading halt until no later than Wednesday, January 20
- VMS last traded at 6.6 cents on Friday, January 15
Venture Minerals (VMS) has entered a trading halt ahead of a proposed capital raise.
The company will remain in the trading halt until no later than Wednesday, January 20.
At this stage, it is unclear how much money will be raised or what the funding will be used for.
The WA-focused explorer recently completed a trenching program at the Kulin Project in WA which confirmed a significant gold system made up of multiple gold targets.
The program returned substantial mineralised intervals of up to 31 metres at 1.0g/t gold and 20 metres at 0.6g/t gold.
Since it received these results, Venture has begun a maiden diamond drilling program at Kulin, which is aiming to test a number of gold targets beneath the broad mineralised trenches.
Once this has been completed, Venture will move to its Golden Grove Zinc-Copper-Gold Mine to carry out drilling at Golden Grove North.
The company is looking forward to generating drill results from Kulin in
the coming weeks following the completion of its maiden diamond drilling program,” Managing Director Andrew Radonjic said.
VMS last traded at 6.6 cents on Friday, January 15.