By ASX Announcement
Monday 16/01/12
Ref: /VMS/606/VMS00270
Australian mineral exploration company, Venture Minerals Limited (ASX code: VMS) is pleased to announce that a US based investment fund has agreed to take approximately a 5% stake in the Company at a premium to market. The investment will follow the transfer and conversion of approximately 10 million management options,
which have a strike price of 30 cents and are due to expire
on the 20th of February 2012.
Management have transferred the options for nil consideration
in return for the options being converted immediately.
The conversion of the options will raise an additional $3
million in working capital for the Company and will boost its
cash position to approximately $15.5 million. This affords
Venture the opportunity to continue fast tracking the
exciting new DSO projects while still completing the BFS on
the Company's flagship Mt Lindsay Tin/Tungsten Deposit.
Venture Managing Director Hamish Halliday commented,
"We are very pleased with
the transaction as it not only brings a significant New York based fund onto the register, but also bolsters our cash position with no dilution to Ventures capital base. The additional funds also allow us to continue fast tracking our DSO Projects which have
the potential to deliver significant early cash flow."
Kind regards
Venture Minerals LimitedVenture Fast Facts
ASX Code: VMS
Shares on Issue: 221 million
Market Cap: $62 million
Cash: $12.6 million (Dec 2011)
Recent Announcements
Venture Discovers Second DSO Hematite Prospect at Mt Lindsay, Tas (22/11/11)
Feasibility Drilling Hits 48m @ 0.8% Tin Equiv. Mt Lindsay Project, Tasmania
(9/11/11)
Venture Completes Feasibility Drilling on Main Skarn - Mt Lindsay Project
(27/09/11)
Mining Lease Applications
(16/09/11)
Venture Signs with Grange Resources
(05/09/11)
Maiden Resource and Scoping Study for New Deposit
(29/07/2011)
Drilling at the Reward Project
Continues to Deliver
(02/06/2011)
Venture Appoints Key Management, Mt Lindsay Project
(06/05/11)
Located in North-West Tasmania
140 years of mining precedent
Hamish Halliday
Managing DirectorWA 6008
PO BOX 186 West Perth WA 6872
T: +61 8 9381 4222
F: +61 8 9381 4211
E:
| distribué par | Ce noodl a été diffusé par Venture Minerals Limited et initialement mise en ligne sur le site http://www.ventureminerals.com.au. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-16 10:20:01 AM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
| Documents associés | |
| Venture Attracts US Fund at a Premium via Conversion of Management Options |
