Venturex raises cash for exploration

ASX-listed explorer Venturex Resources will raise A$3.75-million to advance its Pilbara zinc-copper project, in Western Australia. The company on Monday announced that it will undertake a two-for-seven nonrenounceable rights issue, priced at 5c a share. The company’s major shareholder Northern Star Resources will take up its full entitlement, and will sub-underwrite up to A$2-million of the rights issue.