21
Oct
03:54
Bowen Coking Coal completes $53.34m capital raising
Australian coal miner Bowen Coking Coal has raised approximately AUD 85 million ($53.34m) in gross proceeds via a two-tranche placement at an issue price of AUD 0.30 per share, Kallanish notes.
Funds raised from the placement will used for infrastructure guarantees and prepayments, growth and working capital.
Bowen managing director Gerhard Redelinghuys says the strong coal price environment has increased the near-term potential for the group's ass…
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