An announcement from Bathurst Resources Ltd ( (AU:BRL) ) is now available.
Bathurst Resources Ltd has successfully secured A$34.4 million through an institutional placement to advance its Buller and Tenas metallurgical coal projects. This capital raising, supported by new South East Asian strategic investors and existing shareholders, enhances Bathurst’s financial position and supports its goal of achieving over 2.5Mtpa of coal production. The funds will facilitate the development of the Buller Project in New Zealand, benefiting from the country’s Fast Track Approvals process, and the Tenas Project in Canada, which is poised for growth due to existing infrastructure. The placement is expected to settle by the end of March 2025.
More about Bathurst Resources Ltd
Bathurst Resources Ltd is a company operating in the metallurgical coal industry, focusing on the development and production of coal projects. Its primary products include metallurgical coal, with significant projects in New Zealand and Canada. The company is strategically focused on advancing its Buller Project in New Zealand and the Tenas Project in Canada, leveraging existing infrastructure and regulatory support.
YTD Price Performance: -0.21%
Average Trading Volume: 382
Technical Sentiment Signal: Buy
Current Market Cap: $89.89M
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