Perth-based Venus Resources Ltd has branched out from its diamond focus following the settlement of iron ore tenements in the Mid West for over $1 million.
Perth-based Venus Resources Ltd has branched out from its diamond focus following the settlement of iron ore tenements in the Mid West for over $1 million.
The company announced today that it had completed the 100 per cent acquisition of five exploration licence applications and one prospecting licence, which are in close proximity to projects held by Midwest Corporation and Portman.
Under the deal, Venus paid $50,000 and issued two million shares priced at 50 cents apiece to the vendor,
The company said it will now move to expedite the granting of the tenements as soon as possible after acquiring some detailed exploration data.
Venus already holds tenements adjacent to the Argyle diamond mine in the state's north.
Shares in the company fell 7.5c to 31.5c at 13:17 AEST.
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