- Venture Minerals (VMS) enters into a trading halt as it plans an upcoming capital raise
- So far, it is not known how much the company is aiming to raise or where the funds will be spent
- Under the halt, company shares will be paused until Friday, December 10, or when further details about the raise is released to the market
- Venture is a mineral exploration company that owned the Riley Iron Ore Mine, located in northwest Tasmania
- On the market, Venture last traded at 4.2 cents per share
Venture Minerals (VMS) has entered into a trading halt as it plans an upcoming capital raise.
It is not known how much the company is aiming to raise or where the funds will be spent.
Under the halt, company shares will be paused until Friday, December 10, or when further details about the raise is released to the market.
Venture is a mineral exploration company that owned the Riley Iron Ore Mine, located in northwest Tasmania.
Recently, the company intersected a 93-metre zone of tin-tungsten mineralisation at the Mount Lindsay Project.
This intersection follows the drilling program that was designed to confirm the continuity of the high-grade zones and provide samples for Venture’s updated feasibility study for an underground mine.
Results include 93 metres at 0.5 per cent tin equivalent from 107 metres, including 12 metres at 1.7 per cent tin equivalent from 113 metres.
On the market, Venture last traded at 4.2 cents per share.