Australia's Venturex Resources falls; defers Toho Zinc off-take rights by 5 years

Toho Zinc

13/03/2019 02:39

** Shares of Venturex Resources Ltd  VXR.AX  fall as much as
4.4 pct to A$0.215, their lowest since Feb 13
    ** Copper-zinc explorer signs https://bit.ly/2O2r7sT
agreement with Japanese zinc refiner Toho Zinc  5707.T  to defer
the latter's off-take rights by 5 years
    ** After the 5-year period, Toho will have rights to 280,000
tonnes of zinc-in-concentrate produced, up from the original
230,000 tonnes 
    ** Venturex to use the nearterm zinc off-take to help fund
development of Sulphur Springs Copper-Zinc Project in Western
Australia's Pilbara region  
    ** Stock posts its biggest intraday pct fall since Feb 26
    ** Stock has risen 28.6 pct this year, as of last close

 ((Reuters Messaging:
Nikhil.Subba.thomsonreuters.com@reuters.net))