Atrum Coal Ltd (AU:ATU) has released an update.
Atrum Coal Ltd successfully completed a capital raising initiative, securing approximately A$5.0 million through a non-renounceable entitlement offer to support litigation against the Government of Alberta and cover operational expenses. The litigation concerns the alleged de facto expropriation of the company’s Elan Coal leases, with a trial date set for early 2025. Meanwhile, Atrum is exploring the sale of its Groundhog and Panorama projects and has maintained a debt-free status with A$4.664M in cash reserves as of March 31, 2024.
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