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Ventnor Resources On Capital Raising Drive

Ventnor Resources (ASX: VRX) has been granted a trading halt by the ASX today as it prepares to release an announcement regarding an equity raising.

The company recently began a Bankable Feasibility Study at its Thaduna/Green Dragon Copper Project in Western Australia 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.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Monday 8th April 2013.

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