Bowen Coking Coal Ltd (AU:BCB) has released an update.
Bowen Coking Coal Ltd is set to raise approximately A$70 million through a renounceable entitlement offer, aiming to fund the development of the Plumtree North mine and strengthen the company’s balance sheet. The offer includes significant commitments from major shareholders and new investors, with trading options for eligible shareholders. This strategic move follows Bowen’s operational improvements and anticipation of benefits from the recent uptick in coking coal prices.
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