very quiet this morning, page-13

Hi Praia,

I wish you where right but it is not to be.

Read the announcement carefully and you will realise that the first tranche is going to our so called sophisticated investors.

They do not need shareholder approval for this as it falls within the 15%

The second tranche is also going to our so called sophisticated investors but needs approvale from shareholders.

Read this again:

The Placement
The Company has agreed to place a total of 40.9 million fully paid ordinary shares at 44
cents each, to institutional and sophisticated investors in two tranches:

?X Tranche 1 - 24.5 million shares at 44 cents to raise $10.8 million will be issued
immediately under the Company??s 15% capacity, pursuant to ASX Listing Rule
7.1; and

?X Tranche 2 - 16.4 million shares at 44 cents to raise a further $7.2 million will be
issued subject to shareholder approval at the Company??s Annual General Meeting
to be held during November 2010. A notice of meeting will be sent to
shareholders in due course.


And then you will read the rest what goes to us shareholders, and that ONLY BE $2 MILLION worth of shares..

In addition, Venture will initiate a share purchase plan open to all eligible
shareholders, to raise up to A$2.0 million at A$0.44 a share. The record date to be
eligible to participate in the share purchase plan is 6 October 2010. Documents
relating to the share purchase plan will be distributed in due course


Its pretty clear to me THAT THERE WILL BE NO extra shares for us sharholders exept the $2 million worth @ 44 cts each.

The company has not mentioned that there will be over subscriptions being exepted, so if someone posts that here on the forum, they should tell us their source.

Good luck

jojo