- Shares in Queensland-based explorer Bowen Coking Coal (BCB) entered two trading halts this morning ahead of a capital raise
- At this stage, company shares will remain paused from trade until Wednesday next week — unless BCB can make an announcement earlier
- The trading halt comes as the explorer gears up to raise fresh capital, although it’s unclear at this stage what the funding will go towards
- It comes after the company submitted a key application to the Queensland Government to advance its premier coking coal exploration play
- Bowen also recently bought the Broadmeadow East project, an undeveloped tenement said to contain 33 million tonnes of resource
- Bowen shares last traded for 5.5 cents on Wednesday, October 28
Shares in Queensland-based explorer Bowen Coking Coal (BCB) entered two trading halts this morning ahead of a capital raise.
At this stage, company shares will remain paused from trade until Wednesday next week — unless BCB can make an announcement earlier.
The trading halt comes as the explorer gears up to raise fresh capital, although it’s unclear at this stage what the funding will go towards.
In early October, the materials stock lodged an environmental authority application with the Queensland Government.
If approved, it’ll bring Bowen one step closer to getting its Isaac River coking coal project “shovel-ready.”
“The lodging of the Isaac River Environmental Authority is a significant step forward in the development pathway of this exciting asset, supporting BCB’s drive to become a high-quality coking coal producer,” Bowen Managing Director Gerhard Redelinghuys said.
Just two days earlier, back in late September, Bowen also finalised its acquisition of the BroadMeadow East Project. The coking coal play comes with a granted but undeveloped mining lease, said to contain 33 million tonnes of resource.
On the same day, BCB announced it had made some changes to its board. Non-Executive Directors Steven Formica and James Agenbag have now formally tendered their resignations and will officially step down on October 31.
Bowen shares last traded for 5.5 cents on Wednesday, October 28.