Venture Minerals has received a vote of confidence from a United States based investment fund, which has agreed to take up a 5% interest in the company at a premium to the market. The agreement will give Venture USD 3 million in working capital, boosting the company’s cash position to about USD 15.5 million.

This will follow the transfer and conversion of about 10 million management options, which have a strike price of USD 0.30 and are due to expire on February 20th 2012.

Venture has agreed to transfer the options for no consideration in return for the options being converted immediately. The options are at a premium to Venture's last closing price of USD 0.28. Importantly, the deal bolsters Venture’s capital position without diluting the company’s capital base.

The additional working capital provided through the conversion of these options will allow Venture to fast track its direct shipping ore projects while continuing the Bankable Feasibility Study on the flagship Mt Lindsay tin/tungsten deposit in Tasmania.

In late November, 2011, Venture discovered a second DSO hematite prospect within the Mt Lindsay area, following a series of mapping and rock chip sampling programs over a new area, Riley Creek.

(Sourced from www.proactiveinvestors.com.au)