Bowen Coking Coal Faces Statutory Demand from BUMA Australia

Bowen Coking Coal Ltd ( (AU:BCB) ) has issued an announcement.

Bowen Coking Coal Ltd has received a statutory demand from BUMA Australia Pty Ltd for a sum of $6,818,017.28, part of a larger disputed amount. This situation poses a significant risk to Bowen, as failure to address the demand within 21 days could lead to a deemed insolvency event, potentially breaching the company’s debt facility agreements. Bowen is actively seeking a commercial resolution with BUMA to avoid these consequences.

The most recent analyst rating on (AU:BCB) stock is a Buy with a A$0.04 price target. To see the full list of analyst forecasts on Bowen Coking Coal Ltd stock, see the AU:BCB Stock Forecast page.

More about Bowen Coking Coal Ltd

Bowen Coking Coal Ltd operates in the mining industry, focusing on the extraction and production of coking coal, a key ingredient in steel manufacturing. The company is listed on the Australian Securities Exchange under the ticker BCB and is based in Brisbane, Queensland.

Average Trading Volume: 549,911

Technical Sentiment Signal: Sell

Current Market Cap: A$10.78M

For an in-depth examination of BCB stock, go to TipRanks’ Overview page.