Lumina Capital is increasing its share in Ventana Gold as part of a $6 million (XE) private placement arranged by the mining firm, it has been announced.

The move sees Lumina, which is operated by Vancouver-based mining entrepreneur Ross Beaty, purchase 4.3 million units - consisting of one common and one non-transferable share - at a price of £1.20 each.

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President and chief executive officer of Ventana Richard Warke stated that the move indicates Lumina's "confidence" in the company and its current operations in the La Bodega area of Colombia.

"Lumina has been a strong supporter of Ventana in the past and we are pleased to see their interest increase to 8.5 per cent, or 12.2 per cent on a fully diluted basis," he stated.

Vetanta recently introduced another drill to the La Bodega site as it steps up its efforts to extract gold from the area.

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