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Ventnor Resources' 63% share spike attracts ASX speeding ticket

Ventnor is increasing its leverage to the silica sand sector.
Ventnor Resources' 63% share spike attracts ASX speeding ticket
The company's shares have been climbing

Ventnor Resources Ltd's (ASX:VRX) shares have been on a tear, hitting $0.026 intra-day yesterday, or 63% higher than the lows a day before.

In response to an ASX Price Query, Ventnor noted it was not aware of any reason to explain the recent trading activity.

Ventnor is proposing a demerger and in-specie distribution of shares in Delgare Pty Ltd as outlined in the short form prospectus on the 27th October 2017.

The company has also recently leveraged itself to the silica sand sector, which is predicted to have a supply deficit in Asia in the near-term.

Ventnor's Arrowsmith is located 270 kilometres from Perth in Western Australia, and during the June quarter the company applied for three exploration licenses covering 350 square kilometres of holding with sand prospects.

Arrowsmith could address dwindling sand supply in the Asia-Pacific region used in glass manufacturing, concrete construction and as a tech metal.

Ventnor has also been assessing other silica and construction sand prospects to complement Arrowsmith.

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