i smell a capital raising

BTU are due to make the first of three staged acquisition payments in about six weeks: $US35m /$A38m, due in early November.

They only have about $A8m left from the recent $A16m capital raising, and this is being chewed through rapidly by onsite operational expenditure.

They will have to raise additional capital shortly, so the current price plateau following the recent steep hike in the share price may well mark the level at which this will be done.

(There is then be another $US40m payment due at the start of production and a further $US40m due when the first million tonnes of coal have been mined).

(Personal opinion / not intended as advice. Do your own research)