Jun 2, 2023 – 9.15am source AFR...
Metallurgical coal miner Bowen Coking Coal was passing around the hat for a $50 million raising on Friday morning to speed up production at its Burton Complex.
Matt Latimore is a director at Bowen Coking Coal.
Prospective backers were told Bowen’s key shareholders Crocodile Fund UK, Flannery family’s Illwella and Matt Latimore’s M Resources were supportive and would participate in the raise.
Proceeds would be used primarily for a box cut into Ellensfield South.
Morgans, Petra Capital and Shaw & Partners were mandated for the raise.
Bowen shares were expected to go into a trading halt on Friday morning. It had a $405 million market capitalisation, and shares are down 31 per cent this year.
Jun 2, 2023 – 9.15am source AFR... Metallurgical coal miner...
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