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  • Ventnor Resources To Reveal Details Of Equity Raising 0 comments
    Apr 7, 2013 10:45 PM

    Ventnor Resources (ASX: VRX) will soon reveal details of an equity raising and has requested a voluntary suspension from the ASX.

    The company said it is not yet in a position to make an announcement regarding the equity raising.

    Ventnor is continuing to progress towards the development of the Thaduna/Green Dragon Copper Project in Western Australia with the signing of a Native Title Agreement last week.

    The agreement signed with the Yugunga-Nya People is the last condition precedent required to allow the granting of the lease and Miscellaneous Licence applications over the project area.

    Ventnor also recently began a Bankable Feasibility Study at the Thaduna/Green Dragon Copper Project following the completion of a Scoping Study that confirmed the economic and technical viability of the project.

    The BFS will further focus on detailed mine planning, metallurgical testwork, processing options, confirmed contract rates and operating cost reduction initiatives.

    Further deeper drilling is underway at Thaduna/Green Dragon and will be included as part of the BFS.

    Ventnor's aim is to extend the current JORC Resource to between 175,000 and 200,000 tonnes of contained copper.

    The Resource currently stands at 142,000 tonnes of contained copper and 945,000 ounces of contained silver.

    Results for the BFS are expected in the September quarter 2013.

    Ventnor expects the suspension to remain in place until the start of trading in Wednesday, 10 April 2013 or release of the announcement by the company.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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