Venture Minerals Limited (AU:VMS) has released an update.
Venture Minerals Ltd has sold its subsidiary, Venture Iron Pty Ltd, which includes the Riley Iron Ore Mine, to Goldvalley Brown Stone Pty Ltd for $3 million plus additional financial returns. This strategic move, advised by Argonaut PCF, enables the company to focus on advancing its new Jupiter Rare Earth project, while enhancing its financial position by adding to its existing cash reserves. The decision was made to optimize shareholder value by prioritizing the promising rare earth sector over the less economically viable iron ore project.
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