Market Herald logo


Be the first with the news that moves the market

Atrum Coal Ltd has raised $20 million of new equity funds. The equity raised is a result of 114.3 million new fully paid ordinary shares in a two-tranche placement at an issue price of A$0.175.

The $20 million raised will go towards the Elan Hard Coking Coal Project, where ATU will focus on extensional drilling, coal quality testing and other studies.

“We are highly encouraged by the strong level of demand received for this equity raising.  We believe it highlights a rapidly growing appreciation for the underlying value potential of our flagship Elan Hard Coking Coal Project in Alberta. We are now well funded to accelerate our drilling and evaluation activities across multiple project areas at Elan, with a view to rapidly progressing through key feasibility work and towards formal permitting application for Elan South.” Atrum Managing Director, Max Wang, said.

Please Find Announcement attached:

ATU by the numbers
More From The Market Herald
Electro Optic Systems (ASX:EOS) - CEO, Dr Ben Greene

" Electro Optic Systems (ASX:EOS) moves ahead with OHB contract

Electro Optic Systems (EOS) will move ahead with a manufacturing contract with OHB Systems after concluding negotiations.
Talon Energy (ASX:TPD) - CEO, David Casey

" Talon (ASX:TPD) and Strike (ASX:STX) wrap up site works at Walyering-5

Talon Energy (TPD) and ASX-listed joint venture partner Strike Energy (STX) have wrapped up site works at the Walyering-5 well.
Beach Energy (ASX:BPT) - CEO and MD, Matthew Kay

" Beach Energy’s (ASX:BPT) oil production slumps

Beach Energy’s (BPT) oil production has slumped during the first quarter of the 2022 financial year, falling 4 per cent to 5.7 million...
Kleos Space (ASX:KSS) - CEO, Andrew Bowyer

" Kleos Space (ASX:KSS) to build and launch Observer Mission

Kleos Space (KSS) has signed new contracts with satellite builder Innovative Solutions in Space (ISISPACE) and global launch services provider, Spaceflight.