18 Apr 2014

Bathurst Resources shares at new low

6:07 am on 18 April 2014

Shares for the company that wants to mine the Denniston Plateau have hit a new low. Bathurst Resources share price closed on Friday at 7 cents.

Bathurst Resources plans to mine this area of the Denniston Plateau.

Bathurst Resources plans to mine this area of the Denniston Plateau. Photo: Debs Martin

That compares with 34 cents in October, when the Environment Court granted consents for the mine. The price got as high as $1.74 in 2011.

Environmental groups are concerned the company does not have the money to mine, but will still clear the land to prepare for the possibility.

Bathurst has said it does have the money; but on Monday it announced it was seeking capital of up to $7 million from shareholders. By Wednesday, it had raised nearly $7.4 million.