AusPac down to its last $330k

AUSTRALIAN Pacific Coal had just $330,000 in the bank at the end of the December quarter as continuing litigation by the Hunter Thoroughbred Breeders Association over the company’s proposed Dartbrook underground coal project in New South Wales continues to burn through its capital.

AusPac down to its last $330k AusPac down to its last $330k AusPac down to its last $330k AusPac down to its last $330k AusPac down to its last $330k

There was also $212,000 paid in executive and non-executive fees during the quarter.

AusPac revealed funds during the December quarter were primarily used to progress the modification appeal ($130,000), care and maintenance holding costs ($370,000), and corporate administration

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