AusPac divests BCB holding to secure $1.58M

AUSTRALIAN Pacific Coal has divested part of its Bowen Coking Coal holding through the sale of 35.3 million shares for 4.5c per share, providing the company with a cash inflow of $1.6 million.

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AusPac divests BCB holding to secure $1.58M AusPac divests BCB holding to secure $1.58M AusPac divests BCB holding to secure $1.58M AusPac divests BCB holding to secure $1.58M AusPac divests BCB holding to secure $1.58M

The company continues to hold 19 million BCB shares, it said in its June quarterly statement.

 

"The board continues to evaluate the short-term cash flow requirements of the company," it said.

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