Perth-based Bathurst Resources has dual listed on the New Zealand Share Market today.
Perth-based Bathurst Resources has dual listed on the New Zealand Share Market today.
The listing is in accordance with Bathurst's deal to buy the Buller coal project from L&M Coal Holdings in February.
Earlier this month, Bathurst announced it had finished the acquisition of the project after completing a $110 million capital raising.
The Buller Coal Project area comprises two permits that cover over 10,000 hectares of the Buller Coalfield.
The project contains high quality coking coal.
"The projects' exploration potential is in the order of 60-90 million tonnes of coking and thermal coal, with current JORC compliant resources of 47.1 million tonnes," Bathurst said in a statement to the Australian Securities Exchange.
Last week, Bathurst agreed to pay $35 million to buy another coal project in New Zealand's Buller region.