ASX-listed Australian Pacific Coal (AQC) will raise A$12-million through an institutional placement and accelerated non-renounceable entitlement offer to provide working capital for the Dartbrook mine, ahead of a restart in the fourth quarter of this year. The institutional placement raised A$4-million through the placement of some 36-million shares at a price of 11c each to new and existing institutional and sophisticated investors.
PERTH – ASX-listed Australian Pacific Coal will raise A$12-million through an institutional placement and accelerated non-renounceable entitlement offer to provide working capital for the Dartbrook mine, ahead of a restart in the fourth quarter of this year.
A 1-for-4.75 accelerated non-renounceable entitlement offer, also priced at 11c a share, is expected to raise a further A$8-million. “This injection of new equity is testament to the underlying value of the Dartbrook project and the progress that has been made to substantially de-risk the restart of the mine.
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