Venture Minerals raises $5m

West Perth-based minerals explorer Venture Minerals Ltd raised $5 million after its Initial Public Offering of 25 million shares at 20c each.

The funds raised by the IPO are to be used to acquire and explore four highly prospective projects, located adjacent to world-class deposits throughout Australia. These projects are within existing mineralisation provinces and will give the company exposure to highly priced commodities including Uranium, Copper, Gold, Nickel, Tin and Iron Ore.

The capital raising was co-managed by Max Capital and Montagu Stockbrokers and supported by a panel of leading Australian broking houses.

In announcing the closure of the IPO Venture Minerals Managing Director Andrew Radonjic said, "We have been overwhelmed by the interest in our IPO.

The Venture board and management has extensive combined experience in the Australian resources industry and consists of:
Non-Executive Chairman: Mr Mel Ashton
Managing Director: Mr Andrew Radonjic
Non-Executive Director/Company Secretary: Mr Kent Hunter
Exploration Manager: Dr Stuart Owen
Management Consultants: Mr Steve Parsons & Mr Hamish Halliday