Bathurst raises A$7.93 million in discounted placement to help fund Escarpment mine

Tue, 15 Apr 2014

April 16 (BusinessDesk) - Bathurst Resources raised A$7.39 million in a discounted placement to institutional investors to help fund development of its Escarpment open-cut coal mine on the Denniston Plateau near Westport. The Wellington-based mining company sold about 123 million shares at 6 Australian cents, or 6.5 New Zealand cents apiece. The stock dropped 7.3 percent to 7.6 cents after trading resumed on the NZX today, having been halted for the placement. Managing director Hamish Bohannan said the company is mulling an offer of “a small...

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