Venture Minerals (ASX: VMS) is set to provide an update on the Diley direct shipping ore project, with the company granted a trading halt by the ASX today - with its shares placed in pre-open.
The wholly-owned project is located in north-west Tasmania, with Venture recently reaching milestones such as; securing a $15M debt finance facility from a global banking group; the selection of Tasmanian based Shaw Contracting as a preferred mining contractor; and the advancement of all remaining contracts and approvals.
The debt facility means that the project is fully-funded into production.
Venture is currently focussing on finalising transport agreements and completing all approval documentation.
During the March 2013 quarter the company worked closely with TasRail to finalise transport agreements and worked with both State and Federal environmental agencies, as the Riley DPEMP (Development Proposal and Environmental Management Plan) progressed through the public consultation process.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Friday 17th May 2013.
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