16 Apr 2014

Mining company pulls in $7.4 million

2:07 pm on 16 April 2014

Bathurst Resources says it has raised nearly $7.4 million from a placement to institutions and professional investors.

Managing director Hamish Bohannan says the proceeds will be used for working capital for the initial development phase of its Denniston mine so it can move quickly into full commercial production once international coal prices recover.

He says the board is also looking at how existing shareholders can be given the opportunity to contribute additional capital.