The Riley Creek mine site in takayna / Tarkine has been left abandoned in a bizarre move just days after Venture Minerals had concluded its capital raising. Venture began removing equipment and machinery on Monday, despite announcing on Tuesday that it had oversubscribed their share purchase plan and that 'funds would be primarily used to ramp up mining and processing at the Riley Iron Ore Mine.'
"Venture's departure is as welcome as it is bizarre", said Bob Brown Foundation takayna / Tarkine Campaigner Scott Jordan.
"While any reprieve for the Devils and Quolls around Riley Creek is great news, I suspect that shareholders will be none too happy about being played for fools."
"This is not a company that can be trusted in one of our great wild areas or with people's nest eggs.”
This is the fourth time Venture Minerals has raised capital to mine at Riley Creek.
The Australian Securities and Investment Commission was asked in August to investigate contradictory statements made by Venture to investors and the federal environment department.