Bathurst finishes Buller deal

BATHURST Resources has finally settled its acquisition of private company L&M Coal Holdings for $US35 million, giving the explorer full ownership of the Buller coking coal project in New Zealand.
Bathurst finishes Buller deal Bathurst finishes Buller deal Bathurst finishes Buller deal Bathurst finishes Buller deal Bathurst finishes Buller deal

Bathurst's Buller project

Blair Price

“We are delighted to have now settled on the acquisition of the Buller Project, which will be the cornerstone asset for Bathurst for many years to come,” Bathurst managing director Hamish Bohannan said.

“The company is now working towards finalising offtake arrangements, achieving environmental consents for the project and securing approval of access arrangements.”

The settlement of the funds comes a day after Bathurst raised $A76 million through issuing 253 million shares at 30c each.

A separate rights issue is expected to take the total equity raising spree to $110 million, with the remainder of the results due out tomorrow.

Bathurst shares last traded at 40.5c and are in a trading halt this morning.

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