Bathurst Resources Ltd (ASX: BRL) Secures A$34.4 Million Placement for Strategic Growth

Tue 25 Mar 25, 04:05 AM | Team Kalkine

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Highlights

Bathurst Resources Ltd (ASX:BRL) has successfully secured firm commitments for a single tranche placement, raising approximately A$34.4 million (before costs) by issuing about 46.5 million new fully paid ordinary shares. The placement was priced at A$0.74 per share and attracted strong interest, with approximately 75% of the commitments coming from new South East Asian strategic investors. Following the completion of the placement, these investors will hold around 15% of Bathurst’s shares.

The capital raised will be used to fund several key development projects in both New Zealand and Canada. Bathurst Resources plans to deploy the funds to advance its Buller Project in New Zealand and the Tenas Metallurgical Coal Project in British Columbia, Canada. The Buller Project will benefit from New Zealand's Fast Track Approvals process, enabling Bathurst to progress through the Pre-Feasibility Study (PFS) stage by the end of the financial year. Additionally, the company expects to complete the Definitive Feasibility Study (DFS) by early 2026, with first coal production targeted for the second quarter of FY28.

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