Venture Fully Funded To Deliver Iron Ore Production

Venture is on track to start iron ore production in the second quarter with full funding for its wet screening plant and first shipment working capital now secured.

The company has received firm commitments from sophisticated, professional, and institutional investors for a placement of more than 181 million shares priced at 5.5c each to raise $10m.

This fully funds development of its Riley iron ore mine in Tasmania, allowing it to complete the final stages of the wet screening plant construction and commissioning that paves the way for Venture Minerals (ASX:VMS) to deliver its first iron ore shipment.