Venture Minerals tops up coffers via $4 million placement

Venture Minerals (ASX:VMS) has completed the first tranche of a previously announced placement, raising $3.97 million, to support its focused 18-month strategy. 

Under the placement, about 172.5 million shares at $0.019 per share were issued, raising $3.3 million before costs. 

Venture Minerals, which has a market capitalisation of $43 million, also confirms that 35.2 million shares held by Acuity Capital were transferred to Lion Selection Group (ASX:LSX) at the same issue price, raising $670,000 before costs. 

The second tranche of the placement is expected to be completed following shareholder approval at a meeting on or around 20 August 2024. 

Venture Minerals is focused on advancing its Jupiter Project in Western Australia, including delivering a maiden resource estimate and resource upgrade. 

Write to Aaliyah Rogan at Mining.com.au   

Images: Venture Minerals
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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.