THE BOURSE WHISPERER: Shares in base metals exploration play Ventnor Resources (ASX: VRX) have recommenced trading.
The return to the Boards of the ASX follows the company raising up to $1 million through loan agreements with sophisticated investors introduced to Ventnor by Patersons Securities.
Ventnor said the funds raised under the agreements will be used for working capital and to allow trading to re-commence.
“The Board is very pleased to have raised sufficient funds with Patersons Securities to allow trading of the company’s shares to recommence,” Ventnor Resources managing director Mr Bruce Maluish said in the company’s announcement to the Australian Securities Exchange.
“Together with the recently announced transaction with Sandfire Resources, this will allow the company to focus on its remaining assets.”
Under the deal with Sandfire (ASX: SFR) that company will fund all future development at Ventnor’s Thaduna/Green Dragon copper project with processing to be done at the DeGrussa plant at C1 costs.
Ventnor has indicated it will be able to commence low key exploration programs at its Kumarina and Warrawanda projects.