Riley iron ore mine, Tasmania

Venture Minerals secures $10M for Riley iron ore project

Perth-based miner Venture Minerals (ASX: VMS) has announced that it has raised $10 million before costs via share placement to fund works at the Riley iron ore operation near Mount Lindsay, Tasmania.

  • Placement of 181,818,182 shares at $0.055 each to raise a total of $10,000,000
  • Issued at 10.7% discount to weighted average price of 15 trading days prior to announcement
  • Funds used for Riley iron ore wet screening plant + first shipment working capital

* Image courtesy of Venture Minerals Limited

Written By Jonathan Norris
Jonathan is a founder of and has been covering the resources industry since 2018. With over 17 years experience in print, broadcast and online media, Jonathan has seen first hand the transformative effect of online niche media.