# BTU - Bathurst Resources



## doogie_goes_off (16 July 2008)

Anyone get on the coal bandwagon today? These guys have purchsed some going concerns in Kentucky USA. Very dukes of hazard. Have gone throught the roof and with good reason I suspect.


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## doogie_goes_off (16 July 2008)

+0.29 up 131.82% for the day, not bad for holders that have been waiting for nearly a month. Congratulations for those who have been in a long time, I managed a small take for the day.


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## stefoid (16 July 2008)

I hold and hope for a couple more aquisitions over the next couple of months.  I can see this with a market cap around $100 million and a stock price of $1 in about 4-6 months if they do that.


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## michael_selway (16 July 2008)

stefoid said:


> I hold and hope for a couple more aquisitions over the next couple of months.  I can see this with a market cap around $100 million and a stock price of $1 in about 4-6 months if they do that.




Hi its not bad

Thanks MS

Highlights
• Acquisition of up to 100% of operating open pit coal mines in Eastern
Kentucky, USA.
• Current operations producing at 26,000t/month with a significant
operating surplus.
• Opportunity to substantially increase production.
• Substantial potential cost savings through efficiencies.
• Additional deposits to be brought on stream to increase production initially
to one million tonnes per annum.
• Initial JORC compliant Mineral Resource and Ore Reserve estimations
completed.
• Other opportunities exist to acquire fully permitted coal projects.
• Hamish Bohannan appointed as Managing Director.


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## upndown (22 August 2008)

Spoke to CEO yesterday.They are currently ramping up production to 1m tonnes pa and he said within 5 years they will be doing 5m tonnes pa.One to keep in bottom drawer.


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## happytown (1 June 2009)

ann out regarding share placement and share purchase plan

as to share placement (to institutional investors and clients of triple c)

8,652,500 @ .05 (to raise $432,625)
41,347,500 @ .05 (to raise approx $2M subject to s/holder approval)

as to share purchase plan

up to $10K @ .05 (details to be ann'd in due course)



> ...
> 
> Funds raised will be used for working capital purposes to continue to streamline operations at its operating coal mines in Kentucky USA and assess US acquisition opportunities
> 
> ...



sp currently .07, down approx 12% on typically minimalist volume

cheers


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## springhill (30 March 2010)

Here's a little coal play that was brought to my attention i'm looking into and have started purchasing.

http://www.asx.com.au/asxpdf/20100329/pdf/31pj22yz7f4b5t.pdf

Bathurst Resources announced yesterday they are turning their back on the coal mine in Kentucky (a good move IMO, considering it put the previous owner in financial duress) to focus on the Buller Coalfield project in NZ, said to be a source of premium coking coal.
Coking coal has spiked from $129 ton to $200 ton amidst concerns of tightening supply from Australia.

Sourced from Business Standard 30March 2010.
*"The market for coking coal, an important input for steel making, has been tightening on supply concerns from Australian mines. Spot prices are being quoted at $216 a tonne, compared to $180 in July 2009.
In addition, for the first time, a major supplier and buyer concluded a contract on a quarterly basis instead of the usual yearly one ”” BHP, the Australian mining company and the world’s largest, has just signed one with Japanese steel mills. Industry sources say BHP offered two options, an annual contract at $250 a tonne (last year’s contract was at just $129 a tonne) and a quarterly one at $200 a tonne. The Japanese mills chose the latter."*
http://www.business-standard.com/in...-daily-metallurgical-coal-price-index/388807/


Currently targetting an open cut resource of 50-90 million tons high quality coking coal.
Last figures i could find on their website quoted costs at US$45/t, (though these were 2009 figures), so say approx AUS$50/t.
Current shares on issue around 100 mill giving a current market cap of around $8 million, with a general meeting being called for approval of the issue of up to 125 million shares over 3 months to investment funds and sophisticated investors at 80% of 5 day averaged share price.
Projected shares on issue in 3 months = 225 million giving a MC based on current price of $17.775 million.

Is this too simple an assumption? ..... 
POTENTIAL value of coal insitu -$10billion (based on 50mill tonnage)
Less mining costs -$2.5billion
Projected MC -$17.775 million
Or is there very good spectrum for share price growth?

I'm probably out of my depth here, no doubt i've over simplified it, so feel free to pick apart


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## springhill (21 April 2010)

Bathurst Resources have announced today the commencement of their first phase drilling program in the Buller Coalfield. First stage drilling should be completed mid-May. Second phase is due to start mid-July with a JORC compliant resource expected mid-August.
http://www.asx.com.au/asxpdf/20100421/pdf/31pwmmmxdxqh2w.pdf

Has risen in the last 2 weeks from a low of 6.5c to an intraday high of 10c.
There are virtually no sellers left at this point;
Market Depth  Buy                              Sell 
No. Quantity Price ($)                # Price ($) Quantity No. 
2  30,000  0.098                       1  0.100  101,336  2  
1  45,000  0.096                       2  0.105  80,000  4  
1  100,000  0.092                     3  0.110  200,000  1  
1  100,000  0.091                     4  0.120  149,750  3  
2  25,100  0.088                       5  0.150  30,256  2  
2  100,000  0.084                     6     
1  9,176  0.083                         7     
2  37,000  0.082                       8     
1  100,000  0.081                     9     
1  50,000  0.080                      10     
23 buyers for 2327428 units             12 sellers for 561342 units 

One to put on the watch list.


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## springhill (21 April 2010)

Apologies people should have kept my powder dry until EOD.
BTU closed on its high of 12c, up 44.58% for the day.

EOD 29 buyers for 2796453 units
       7  sellers for   382092 units


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## insanedragons (24 April 2010)

*BTU Bathurst Resources*

Been in this one for awhile. Great outlook and beautiful chart.This co provides funding to junior mining companies in exchange for resources, IMO


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## springhill (10 May 2010)

Bathurst have put together an excellent little investor presentation for those that are interested here's the link;
http://www.asx.com.au/asxpdf/20100510/pdf/31q8027nysnvfl.pdf

Some key points i think are positives;
*High quality coking coal province with rail and port available
*Targeting production in Q4 2011
*Open cut mine, quick clean & efficient
*Successful producers in the area (Solid Energy, owned by NZ Govt and Pike River Coal - currently trading at around 80c)
*Has support of NZ Govt, will create employment plus provide royalty revenue to Govt
*Relatively low CAPEX US$50-60m
*OPEX of US$55-70/t, thermal coal prices @US100/t plus premium coking @ US$200

DISC i do hold this and am unashamably excited about it.


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## vincentpf (10 May 2010)

Very good project compare to the Market Cap @ 15M
High quality premium coking coal
Initial production target 850Kpa Coking Coal + 150kpa Thermal Coal 

Current price Coking coal $200/ton, Thermal coal $100/ton
Renevue 850k*200+150k*100=190M
Operating cost $55-70/t, take the higher cost, 1M*70=70M
Depreciation + finance cost 10M estimated
Company tax @45%
Net profit (190-70-10)*0.55=60.5M
EPS 60.5/200=30c (possibilly BTU will have a big capital raising)
Valuation of share price 0.3*12=$3.6 (assum the PE ration is 12)
Current share price 0.15c
That's 24times, even you take PE of 6, you will stil have 12 time appreciation
I hold BTU for long term


This is my personal opinion only.
DO your own research!


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## vincentpf (13 May 2010)

Nice move up! More and more people realiza this small one got huge potential! They will have drilling report in the next couple of days. Fly higher!


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## vincentpf (13 May 2010)

Up 20%,seems like some people rush in in the last minute before the drilling result. Will see good news tomorrow!


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## vincentpf (17 May 2010)

Finally, they have the initial JORC compliant resource of 7.3 million tonnes (worth $1.4B. compare to the MC $17M), majority high quality cooking coal. They are on the right truck to be a producer. More exploration coming in the next couple of month, more reserve will be confirmed.
Management of BTU are very confident with this high reward project!


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## springhill (26 July 2010)

vincentpf said:


> Finally, they have the initial JORC compliant resource of 7.3 million tonnes (worth $1.4B. compare to the MC $17M), majority high quality cooking coal. They are on the right truck to be a producer. More exploration coming in the next couple of month, more reserve will be confirmed.
> Management of BTU are very confident with this high reward project!




Update on BTU activities since last posting have been impressive, they seem to be ticking all the right boxes on the way to becoming a producer late next year.

June 28,
BTU receives mining approval from the NZ Govt.
http://www.asx.com.au/asxpdf/20100628/pdf/31r19050vjflqj.pdf

July14,
BTU adds key members to it's executive team.
Tim Manners appointed as CFO, most recently he filled this role at Perilya LTD

Steve O'Dea appointed as Executive General Manager, has 20 years experience in underground, and more importantly, open cut mining.

Les McCracken, most importantly in my eyes, appointed on contract basis as Project Manager. He was responsible for the successful five year development of the Pike River Coal Project. So has vital practical experience in the industry, but also in the same country.
http://www.asx.com.au/asxpdf/20100714/pdf/31r9w1cq60gbz4.pdf

July 26,
BTU announces JORC compliant upgrade to 42.2m tons of coal. They are well on their way to the target of 50-90m tons of coal.
The 16 hole drilling program at Deep Creek should be completed this week, so look for further JORC upgrades in the near future.
http://www.asx.com.au/asxpdf/20100726/pdf/31rhh24dzlv7rb.pdf


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## tahpot (29 July 2010)

Great looking company this one. Hold on to you hats, I think we could see some nice upwards movement as the pieces fall into place in the next few months.


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## prawn_86 (29 July 2010)

tahpot said:


> Great looking company this one. Hold on to you hats, I think we could see some nice upwards movement as the pieces fall into place in the next few months.




Care to explain why you think it is a good company? Your post has provided no detail at all. Why do you think it will move upwards?


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## tahpot (30 July 2010)

Sure.

1. Management are proving themselves, delivering on their promises. Have secured a sensible win-win situation with the purchase of the project that has good payment milestones in place.
2. Will be a 1mtpa producer very shortly (end of 2011) with upside of 2mtpa.
3. Very high quality coal which will fetch a premium and ensure the mine is profitable even with a drop in the coal price.
4. Open cut mine with easy access to transport, which will help keep operating costs low.
5. A sound strategy outlined to market for progressing to production.
6. Have a large backer supporting the project who may potentially be involved with the offtake agreement.
7. Buyers are thinning out moving the price up in the short-term.
8. The soon to be completed DFS and expected offtake agreements in the coming months provide a great opportunity for short/medium term growth.

DYOR with valuations, but 1mtpa operation at current coal prices will give BTU $US185m / annum revenue.


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## springhill (20 August 2010)

Bathurst continues to move in the right direction towards becoming a hard coking coal producer by the end of 2011.

BTU have appointed Rob Lord as a Non Executive Director, he most recently filled the role of MD and CEO of Gloucester Coal Ltd.
http://www.asx.com.au/asxpdf/20100818/pdf/31ryp18h5tn11z.pdf

They have also released an interim DFS that confirms their project viability.
http://www.asx.com.au/asxpdf/20100818/pdf/31ryp4mt2nvf2f.pdf

Also, a shareholders presentation, that outlines several key areas, including
*Capex of US$57m + US$5m contingency
*Total costs of $103 per ton, covering mining, processing and transport costs
*The ability to produce 100% hard coking coal, previously it was thought 85% hard coking and 15% semi-soft coking. Which adds upside to the balance sheet as current hard coking prices are $225, while semi-soft is only $150.
*Claims that BTU coal is superior to the best Australian coking coal in composition
http://www.asx.com.au/asxpdf/20100818/pdf/31rypk3svswf60.pdf


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## oldblue (20 August 2010)

I've been following this one for a while now and bought a small stake recently.

Tahpot has summarised reasons to like this company. One other compelling point as far as I'm concerned is that the Buller Coal Project virtually surrounds  the NZ SOE Solid Energy's Stockton mine, a longterm successful operation. The Buller district is well disposed to coal mining with all the necessary infrastructure either already in place or able to be readily upgraded.


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## springhill (1 September 2010)

Ripping upward channel formation for BTU happening here. Question is, retracement or breakthrough tomorrow?
Was a push in the last 10 mins of trading to snap some up, moving Bathurst to a 12 month high.
I'll be looking for an announcement in the next day or two, maybe linked or maybe not there was alot of bot trading for a period of about a week, which has stopped in the last couple of days.


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## springhill (2 September 2010)

springhill said:


> Ripping upward channel formation for BTU happening here. Question is, retracement or breakthrough tomorrow?
> Was a push in the last 10 mins of trading to snap some up, moving Bathurst to a 12 month high.
> I'll be looking for an announcement in the next day or two, maybe linked or maybe not there was alot of bot trading for a period of about a week, which has stopped in the last couple of days.




On the money SH! Breakout it is. Announcement out today regarding an 80% increase in the coal reserves at Deep Creek. Trying to hit 30c ATM.
http://www.asx.com.au/asxpdf/20100902/pdf/31s90kglcdkmsv.pdf


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## oldblue (2 September 2010)

springhill said:


> On the money SH! Breakout it is. Announcement out today regarding an 80% increase in the coal reserves at Deep Creek. Trying to hit 30c ATM.
> http://www.asx.com.au/asxpdf/20100902/pdf/31s90kglcdkmsv.pdf




It's an 80% increase in the *resource* of this particular part of the Buller Coal Project, not yet certified as a reserve, but good news all the same and the market thinks so too.

Disc: I hold.


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## springhill (9 September 2010)

A very interesting intraday chart for BTU today, looking at course of sales someone went ballistic post 1.30pm until after the bell with several more big lots turned over. 9.8m traded today.
Scratching my head and can't think of any reason for this, no major event due until Q4 (Off-take and financing and environmental approvals spring to mind). Although OIO (link to what OIO is http://www.linz.govt.nz/overseas-investment/index.aspx) approval was due in Aug 2010, and there has been no announcement regarding this to my knowledge.
Environmental consent final submissions were also due to be filed this month.
In the back of my mind i recall talks with interested product parties, but seems too early for this.
Will be watching tomorrow and looking for a *possible* announcement.

oldblue, tahpot... any thoughts?


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## oldblue (10 September 2010)

Hi, springhill.

You will have seen yesterday's announcement regarding the issue of unlisted options to the MD and two other directors. 5m, 2.5m and 2m respectively, exercisable at 15c before June 2013.

Not a reason for trading activity I would have thought although I don't know the terms under which they were issued, eg as part of remuneration package; for achieving performance targets? I suppose if it's the latter it might be seen as a vote of confidence in BTU?

The other pertinent news in a sense might have been Port of Lyttelton declaring force majeure in respect of Solid Energy's coal exports. A consequence of the SI earthquake although PoL suggests it's more a slowing of operations rather than serious disruption. BTU have talked about the options, in due course, of railing to Lyttelton for shipping or barging to (say) Port Taranaki. But if anything this might have been seen as a bit of a dampener on BTU.

So in short  - no idea really!

Cheers


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## oldblue (10 September 2010)

Here's a wild idea.

Pike River Coal's CEO, Gordon Ward, has resigned with effect from 1 October.

Wouldn't be moving over to BTU, would he?


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## springhill (10 September 2010)

oldblue said:


> Here's a wild idea.
> 
> Pike River Coal's CEO, Gordon Ward, has resigned with effect from 1 October.
> 
> Wouldn't be moving over to BTU, would he?




Well they've already pulled in Les McCracken (formerly Pike River) on contract basis, aswell as Rob Lord from Gloucester Coal. So they have form in attracting names that have worked on bringing potential projects to fruition.


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## doogie_goes_off (13 September 2010)

This has been posted in outstanding breakout alerts. The volume spike and breakout from trading range are pretty convincing. Pity I no longer Hold


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## oldblue (13 September 2010)

I'm surprised that this hasn't prompted a speeding ticket from the ASX.

Not complaining, mind you, although I'm intrigued as to why such a big surge.

Disc: Holding BTU.


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## oldblue (13 September 2010)

Well, BTU got its ticket.

The company reckons it's just the market reacting favourably to the recent resource increase posted for the Buller Coal Project.


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## springhill (13 September 2010)

oldblue said:


> Well, BTU got its ticket.
> 
> The company reckons it's just the market reacting favourably to the recent resource increase posted for the Buller Coal Project.




Maybe the fact Labor has looked to form a minority govt, and in the markets' mind a MRRT is now more imminent. So movement to overseas based projects must be having some influence on this, but not all IMO. Watch this space.....


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## roland (23 September 2010)

Bathurst is off again - just breached it's all time high of .425. Looks like it had around 10 days of consolidation with reducing volume. Should be good for another leg up.


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## oldblue (24 September 2010)

BTU in a trading halt pending the announcement of a capital raising.

Seems to have been "anticipated" somewhat!


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## jadeey (4 October 2010)

Hi all, 
Haven't been trading that long so it's the first time I've held stock in a company that's gone into a trading halt pending capital raising. Any ballpark time frame for these things.....I'm assuming it's extremely variable but just thought I'd check. 
Cheers
JD


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## oldblue (4 October 2010)

jadeey said:


> Hi all,
> Haven't been trading that long so it's the first time I've held stock in a company that's gone into a trading halt pending capital raising. Any ballpark time frame for these things.....I'm assuming it's extremely variable but just thought I'd check.
> Cheers
> JD




A trading halt has a definite time limit. Two or three trading days from memory.

BTU trading is now suspended. This will last as long as it takes to sort out the details. There's been speculation in the AFR last week that it will be an entitlement issue accompanied by a placement of around $74m.

We'll have to wait and see.


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## oldblue (5 October 2010)

Entitlement issue announced - 1 for 2 at 30c together with a placement of shares at 30c to raise $76m.

Shares have been re-instated and have traded down at 36.5c.

I hold.


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## jadeey (5 October 2010)

This seems like a fairly positive result for this situation. Is that a fair assumption?


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## oldblue (5 October 2010)

jadeey said:


> This seems like a fairly positive result for this situation. Is that a fair assumption?




Yes, it confirms that their plans for the Buller Coal Project are on track.

Good demand for the shares at 36-37c at present.

http://asx.com.au/asxpdf/20101005/pdf/31sxx1xnysvdc2.pdf


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## oldblue (5 October 2010)

And the market has reacted favourably so far today with the SP back up to 40c.

The fact that the placement was oversubscribed is reassuring too.


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## jadeey (6 October 2010)

Looking forward to seeing where this goes over the coming weeks. Things are looking good.


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## oldblue (6 October 2010)

jadeey said:


> Looking forward to seeing where this goes over the coming weeks. Things are looking good.




Environmental approvals are the next big milestone.

Shouldn't be taken as a "given" with an active environmental lobby opposed to mining in NZ.

Factors in favour though are a strong pro-mining/employment history on the West Coast where alternative employment options are scarce; a pro-mining NZ govt at present; the fact that the Buller Coal Project virtually surrounds an existing govt owned operation (Stockton) and that infrastructure is already largely in place.

We should know the outcome by the end of the year.


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## jadeey (8 October 2010)

Looks like another good move higher on solid volume. Really starting to look nice


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## oldblue (11 October 2010)

BTU's SP up another couple of cents this morning on news of OIO approval and Crown Minerals consent to the transfer of exploration and mining permits to BTU.

These would have been regarded pretty much as formalities I would think. The next big issue is still the environmental approvals.

But good news all the same!


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## roland (11 October 2010)

I suspect that there will be a good deal of selling tomorrow as BTU goes Ex Entitlement. I may do the same if the gap down is not too large.


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## oldblue (12 October 2010)

roland said:


> I suspect that there will be a good deal of selling tomorrow as BTU goes Ex Entitlement. I may do the same if the gap down is not too large.




Based on the last sale at 47c the ex entitlement theoretical price is around 41c.

Yes, it will be interesting to see whether the smart money selling was done  cum rights.


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## gav (14 October 2010)

Roland and Oldblue, I don't understand really understand rights issues.  I have a small position with BTU.  I received a msg from my broker (IB) stating that rights where issued to me on the 10th Oct under the symbol of BTUR, and expire 26th Oct.  1 right issued for every 2 shares held.

If the rights issue is 0.30 wouldn't you be crazy not to exercise this as the current share price is 0.42?

Edit: I swear I bought at 0.271, yet for some reason my broker is now saying I bought 0.215.  Does the rights issue have something to do with this???


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## roland (14 October 2010)

gav said:


> Roland and Oldblue, I don't understand really understand rights issues.  I have a small position with BTU.  I received a msg from my broker (IB) stating that rights where issued to me on the 10th Oct under the symbol of BTUR, and expire 26th Oct.  1 right issued for every 2 shares held.
> 
> If the rights issue is 0.30 wouldn't you be crazy not to exercise this as the current share price is 0.42?
> 
> Edit: I swear I bought at 0.271, yet for some reason my broker is now saying I bought 0.215.  Does the rights issue have something to do with this???




hi gav, I don't believe that the rights issue should affect your previous purchase. As a rule of thumb, it's normally wise to take up the rights otherwise your holdings are essentially diluted.

As to if it's a good choice to do so would really be up the individual shareholder. Remember that the issue entitlement date is the 18th, so at the moment you have no clear advantage to someone yet to purchase stock other than the fact that you have bought in at a lower price than the current value of stock.

I would expect another drop in the SP after the entitlement date - similar to what happens when a stock goes Ex Dividend. So one must keep this expected drop in value in mind when making the decision to take up the option or to pull the pin before the Ex Entitlement date.

Happy to be corrected on my content

Cheers
Roland


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## oldblue (15 October 2010)

Just a few points of clarification.

BTU have already gone ex entitlement, ie anyone buying now doesn't get any rights to the issue.

The "record date" of 18 Oct is to allow the registrar to register earlier transfers and to "clean up " the register prior to sending out the prospectus on 21 Oct.

The issue closes on 5 November and the "rights" to the new shares will be traded for a period prior to then. Anyone not wishing to take up their rights can sell them - the theoretical price is around 11c but this will vary of course with supply and demand.

The head share SP has held up well ex entitlement, IMO which should bode well for rights trading but we'll have to wait and see!


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## roland (15 October 2010)

oldblue said:


> Just a few points of clarification.
> 
> BTU have already gone ex entitlement, ie anyone buying now doesn't get any rights to the issue.
> 
> ...




Thanks for that, so you are able to sell off the rights without having to pay for them?


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## oldblue (15 October 2010)

roland said:


> Thanks for that, so you are able to sell off the rights without having to pay for them?




Yes, certainly.

Bear in mind though that brokerage could take a big chunk of the proceeds with the rights price likely to be around the 11c mark. Mind you, if you have several hundred thousand of them that won't be a problem.



The normal procedure is that the application price, 30cps, is added to the buyer's contract note and the buyer's broker handles the application  to the company's registrar.


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## jadeey (15 October 2010)

If you hold shares on the record date can you apply for your entitlement of new shares in the rights issue but sell your current holding before being issued the new shares?


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## oldblue (15 October 2010)

jadeey said:


> If you hold shares on the record date can you apply for your entitlement of new shares in the rights issue but sell your current holding before being issued the new shares?




Yes. Once the shares went ex entitlement on 12 October the rights remain with the owner, regardless of what happens to the head shares thereafter.

On a separate but related matter I note that "eligible shareholders", ie those on the register at Record Date (18 Oct) with a registered address in Australia or New Zealand, may apply for additional shares in excess of their entitlement. Whether or not there are many such shares to go around remains to be seen but it might be a profitable exercise to ask for a few more, bearing in mind the likelihood that such applications will be scaled back.


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## oldblue (15 October 2010)

A more careful reading of BTU's letter reveals that the rights are non-renounceable, ie can't be traded or transferred to anyone else.

All the more reason to take them up to receive value, especially as the head shares are remaining firm around 41-42c.

Being non-renounceable may also mean that additional shares will be more readily available from holders who either forget, neglect or can't afford to take up their entitlements.


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## roland (15 October 2010)

oldblue said:


> A more careful reading of BTU's letter reveals that the rights are non-renounceable, ie can't be traded or transferred to anyone else.
> 
> All the more reason to take them up to receive value, especially as the head shares are remaining firm around 41-42c.
> 
> Being non-renounceable may also mean that additional shares will be more readily available from holders who either forget, neglect or can't afford to take up their entitlements.




well read oldblue, I'm quite confident to hold and grab the entitlement. It's really quite interesting that in this carbon conscious world there is still so much value in burning coal


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## roland (26 October 2010)

OK, I got bored with BTU and sold out. Up around 12% and will grab my options. I have a feeling that when the options come onto the market there may be some weakness.


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## springhill (28 October 2010)

Bathurst has requested a trading halt pending an annoucement by the company in relation to an article in the AFR today.
Does anyone have the details of this article?


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## roland (28 October 2010)

Bathurst puzzled by Galilee snub
Street Talk

Street Talk | A $30 million takeover bid from Bathurst Resources for Galilee Energy’s looming New Zealand coal spin-off Eastern Resources was rejected by Galilee earlier this week.


Best I can find right now

from the AFR web site: http://afr.com/tags?tag=C_BATHURST RESOURCES LIMITED-BTU


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## roland (28 October 2010)

What do you reckon - down to $0.30 by the 5th of November? Almost no volume. One can only imagine that as soon as the option holders pick up their $0.30 shares (if they do) then there could be a large dump.

I'm not holding right now, and holding off to the last minute with my decision on whether to take up my entitlement......


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## oldblue (4 November 2010)

With the SP around 43-44c today I presume you've taken up your entitlement, roland.



I've decided to take a bit of profit today, having taken up my entitlement and applying for a few extra.

Issue closes tomorrow.


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## oldblue (8 November 2010)

BTU in a trading halt pending an announcement in relation to an article in  today's AFR.

Has anyone seen this?


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## roland (8 November 2010)

same old story:

AAP

Bathurst Resources Ltd has gone into a trading halt, after a report it is set to increase its takeover bid for Galilee Energy Ltd's coal assets.

Bathurst was expected to revise upward its bid for Galilee spin-off Eastern Resources Ltd to between $30 million and $35 million, the Australian Financial Review reported on Monday.

An earlier $30 million bid for the company was rejected.
Advertisement: Story continues below

Bathurst requested a trading halt on Monday pending an announcement in relation to the article.

It said it expected shares to resume trading no later than Wednesday.

If the report proves correct, it will be the second time news of Bathurst's intentions regarding Eastern Resources have been broken in the newspaper prior to the stock market being notified.



from: http://news.smh.com.au/breaking-news-business/bathurst-resources-halts-trading-20101108-17jpd.html


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## oldblue (8 November 2010)

Thanks, roland. No chance of me seeing the AFR from my present location.

I suppose it was inevitable that BTU would increase their offer although I'd much prefer that they concentrated on the Buller project. Still, the GLL assets would be a useful second string if problems emerge in Buller. I'm still picking that the environmental fight will be a tough one, despite the overall support from the locals there.

Edit. Just noticed the "SMH" ref.


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## springhill (10 November 2010)

BTU and GLL have moved from Trading Halt to Suspension From Quotation. This would hardly be necessary if Bathurst hadn't suceeded with it's offer for GLL, me thinks.
GLL's own anny quotes a "potential significant transaction", rather than just a reply to the AFR article.


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## oldblue (15 November 2010)

GLL have agreed to BTU buying the Eastern Resources NZ assets.

Looks like a good move with these including tenements and an operating mine in close proximity to BTU's Buller Coal Project.

Market likes it with BTU up 22% on re-listing today.


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## oldblue (15 November 2010)

Better and better!

I must admit to some surprise at the strength. BTU's shareprice now up 36% today to 55c!


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## SilverRanger (16 November 2010)

Also worth mentioning is the article from Garimpeiro today in SMH on BTU. Did this help? I would say so
http://www.smh.com.au/business/new-producer-nudges-into-coking-coal-market-20101114-17sp0.html


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## oldblue (16 November 2010)

Thanks, SR.

I'm sure that article had a positive influence on the SP yesterday.

Not so sure though that BTU is too worried about selling to the local steel industry. As has been noted, the Buller Coal Project virtually surrounds Solid Energy's Stockton mine which sells  its output to (mainly) Asian customers. If, as expected, BTU's coal proves to be of similar high quality I would expect it to find similar buyers.


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## exberliner1 (10 December 2010)

I have been picking up BTU in bits and pieces over the past couple of weeks, so I am not a long term holder yet.

I was most impressed with volume and movement in the stock today, in particular what happened once it reached the wall at 70c. Many stocks approach such a wall and retreat but BTU holders simply bought their way through it and it was gone in 20 minutes or so.

I was also suprised by the lack of profit taking at the close, sure there was some, but not very much.

I would hazard a guess that a lot of today's buying went to portfolio holders with a medium / LT outlook on the company as even with a 7.70% rise (or 10% earlier in the session) there was not the usual hard core selling at the close one would usually see from day traders.

With the MOU now signed there is less likelihood of existing holders bailing out now things have started to get interesting so new buyers will have take stock from the offer and the offer side of the market is not offering much BTU at all at the moment.

Taking the above observations into account I would expect BTU to show some decent gains on Friday as well and why not when it is not to difficult to justify a $1.00+ price for this stock based on where we stand now, without even discounting future developments.

A good time to be on board with BTU.


EB


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## mr. jeff (21 January 2011)

coverage from Australian Fin Review today
" Mining Minnows to Watch as Output Ramps Up" page 21
they note that NZ coal miner BTU has been the centre of takeover talk. This may be supporting the strong buying of the last weeks. 

In the same piece, Street Talk notes that Credit Suisse has an initial target of $1.50 ps.

This is well above current sp of approx. $1.05.
	

		
			
		

		
	





It is interesting to see the trading range each day is getting larger. 
(Note that for some reason the charts from bigcharts always shows an over-extended opening low for the current day)

Can't go exponential for ever.


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## poverty (21 January 2011)

I got in a bit over a week ago at 80c.  You can't buy this one on a dip, there aren't any.  Just wish I had more money at the time.


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## Bolton (24 January 2011)

BTU continues to roll on despite no major news. Approvals pending and momentum gathering.....someone knows something...Watch this space


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## oldblue (25 January 2011)

Bolton said:


> BTU continues to roll on despite no major news. Approvals pending and momentum gathering.....someone knows something...Watch this space




Well, as previosly noted there was a snippet in the Street Talk page of last Wednesday's AFR that mentioned that BTU was close to appointing a "defence adviser", presumably to ward off any unwelcome takeover overtures.

I hold.


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## oldblue (5 February 2011)

And another mention in last Monday's AFR Street Talk column, claiming interest in BTU as a takeover candidate and expecting an early announcement of a company "defence adviser".

Either someone's pumping this or maybe there's some fire behind the smoke!

Quarterly report made good reading though.

I hold.


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## Bolton (5 February 2011)

The final approval from the NZ government looms near. Big players such as JP Morgan now increasing their stake and a major steel company commiting to almost half of the first years production. This is all before a shovel has even struck the ground. The coal grade is the highest and well sought after. I would imagine a 15 - 20 cent increase upon announcement. 3 - 5 weeks perhaps.
Bolton


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## oldblue (8 February 2011)

BTU appoints UBS as Corporate Advisor.


http://asx.com.au/asxpdf/20110208/pdf/41wnb7k0zp8b1m.pdf


Shareprice continues to firm.


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## SilverRanger (8 February 2011)

oldblue said:


> BTU appoints UBS as Corporate Advisor.
> 
> 
> http://asx.com.au/asxpdf/20110208/pdf/41wnb7k0zp8b1m.pdf
> ...




Good call on the "defense adviser", now where's the takeover?


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## Bolton (8 February 2011)

BTU has hit its head a couple of times at $1.10 but today it smashed through that, hitting $1.22 at one stage. Today's announcement certainly sweetens the pot...but not the biggie. The final approval from the NZ government should see the big gains. I was previously expecting $1.30 - $1.40....might have to raise that a little. 
Enjoy the ride


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## oldblue (9 February 2011)

Today's article from The Australian summarises the situation well!

http://www.theaustralian.com.au/bus...predators-circle/story-e6frg8zx-1226002468996


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## oldblue (17 February 2011)

Today's presentation to Citi forum on emerging coal companies.

http://asx.com.au/asxpdf/20110217/pdf/41wv5df23l38dn.pdf


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## mr. jeff (17 February 2011)

oldblue said:


> Today's presentation to Citi forum on emerging coal companies.
> 
> http://asx.com.au/asxpdf/20110217/pdf/41wv5df23l38dn.pdf




That presentation just paints a very rosy picture, BTU is sitting on a fantastic resource and near term production with some facilities already in place. It looks very promising,  superior to Australian coking grades and easy access. 

I do wonder whether there is any PRC hangover here...

Thanks for that presentation Oldblue.


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## springhill (17 February 2011)

mr. jeff said:


> That presentation just paints a very rosy picture, BTU is sitting on a fantastic resource and near term production with some facilities already in place. It looks very promising,  superior to Australian coking grades and easy access.
> 
> I do wonder whether there is any PRC hangover here...
> 
> Thanks for that presentation Oldblue.




I read a report that BTU were progressing quietly with the NZ Govt with all due respect and sympathy following the PRC tragedy.
No consequences from PRC were forseen by BTU, due to PRC being underground and BTU being open cut.


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## oldblue (18 February 2011)

BTU stated in their Dec quarterly report that progress in obtaining environmental approvals had been slowed as a consequence of the Pike River mine disaster but that they remained confident in this regard.

There is strong local support on the West Coast for this mine and govt has also been supportive of the industry in an area where other employment is limited. 

I hold.


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## Bolton (21 March 2011)

The future looks bright here as the ducks begin to take their position. We have seen an impressive rise in the past three months with the best still to come. Bathurst state final approval will occur within the next three months. Should be a good run into Christmas.


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## SilverRanger (22 March 2011)

This is one of the few coal stocks I hold and it has been on steroids since the Queensland flood broke out. Interesting enough, the coal explorers/soon-to-be-producers seemed to have outperformed the non-QLD based producers, while the coking coal price surge is only expected in the short and medium term. Given the less risky nature of its coal mine, BTU is likely to get a tick from the NZ regulators, so I will at least hold until then


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## oldblue (23 March 2011)

From the Westport News - borrowed from another source!

"Hearing commissioners almost finalised"

http://westportnews.co.nz/monday.pdf


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## springhill (1 April 2011)

Bathurst continuing to hit the news in NZ

http://nzresources.com/showarticle.aspx?id=1969&gid=30001969

and

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10716260


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## mr. jeff (1 April 2011)

springhill said:


> Bathurst continuing to hit the news in NZ
> 
> http://nzresources.com/showarticle.aspx?id=1969&gid=30001969
> 
> ...




Thanks for the news, looking very good for BTU still, upcoming anticipated news should keep things moving along, permits, port agreements, gear is getting set up and the coal will start moving. Looking forward to it.


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## springhill (12 April 2011)

Was trawling the net for news on BTU and found this.

http://www.smh.com.au/world/tears-and-silence-at-nz-mine-inquiry-20110405-1d2xx.html

and

http://www.stuff.co.nz/business/industries/4839710/Strong-interest-in-Pike-River-purchase

News in NZ is that the Pike River Coalfield may be up for sale soon, amongst the interested parties are, reportedly, BTU.

Any thoughts on this? Is this an expansion bridge too far, or are they right to pursue aggressive expansion? Possibly fattening the portfolio for a takeover bid?


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## oldblue (12 April 2011)

I'd have thought that Pike River would be a big distraction for BTU at this stage, particularly given it's history and the difficult geology involved.

I'd much prefer to see them concentrate on the Buller project, an open face/cast operation and a much more straightforward proposition. Too much enthusiasm for Pike River would probably see me taking my profits from BTU.


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## oldblue (20 April 2011)

BTU awards contract for construction of the Coal Processing Plant.

Still subject to environmental and other approvals at this stage.

http://asx.com.au/asxpdf/20110420/pdf/41y4wmq7lprrbj.pdf


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## oldblue (23 April 2011)

This, from today's Wellington DominionPost:

" Sharemarket-listed company Bathurst Resources has taken another step towards starting an open-cast coalmine near Westport, but hiring up to 225 people will not begin till it gets official consent to mine. 

Bathurst's subsidiary, Buller Coal, has appointed Greymouth-based firm Brightwater Engineering to build a coal-processing plant and associated facilities. 

The plant will process coal from the mine, in the south of the Denniston Plateau, about 14kms from Westport. Bathurst expected to draw local workers. 

Bathurst managing director Hamish Bohannon said: "The pressure is on to get the mine up and running – the community is crying out for jobs." 

While Bathurst is based in Perth, Western Australia, Mr Bohannon is based in Nelson. 

It had $42 million in the bank and facilities for more, he said. Bathurst hoped to start mining by the end of the year, with commercial production soon after. 

The company expected to start hiring straight after it gained consent. But how long that would take was unknown, with no official start date yet. 

The mine was no different from what Solid Energy was doing nearby, he said, so consent should be "relatively straightforward". 

The project is expected initially to employ up to 160 people, rising to 225, pumping about $30m into the region in salaries and wages. 

The 160 would be mining and administration staff, with the balance for the coal washplant when it was completed. "There will be plenty of other jobs," he said, including at the local port. 

The mine was expected to produce 360,000 tonnes of coal in the first year, which he said was modest, but would rise to 1 million tonnes, reaching 2 million in later years. 

Most of the coal would be shipped out of Westport, with some going through Lyttelton. 

The coal from the mine would be sold to Asia, for use in making steel. 

Coal was selling for about US$250 (NZ$311) a tonne, and steel was very much in demand in Asia. 

"The appetite from China is insatiable," he said. "




"


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## springhill (27 April 2011)

BTU announces timetable for hearings.

http://www.asx.com.au/asxpdf/20110427/pdf/41y7l3msql7g02.pdf

Bathurst making the news in NZ on 2 fronts.

BTU reports resource consent hearings are due to commence June 7, take up to 3 weeks with a decision expected by late July or early August. Leaving the door open for it's target of mining by years end, to still be achievable.

http://www.scoop.co.nz/stories/BU1104/S00745/bathurst-outlines-tight-timetable-to-start-mining.htm

Nothing much new here, but still out there for the public.

http://nzresources.com/showarticle.aspx?id=2035&gid=30002035


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## oldblue (2 May 2011)

BTU has entered a trading halt pending an announcement re " a significant acquisition and potential associated capital raising."

http://asx.com.au/asxpdf/20110502/pdf/41ydcpt3bcqgsp.pdf

I wonder what that's all about?


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## oldblue (2 May 2011)

Report and comment from Fairfax NZ.

http://www.stuff.co.nz/business/industries/4950771/Bathurst-in-trading-halt-no-Pike-River-plans

I like the "no Pike River plans " bit but I'd prefer that they got on with the Buller project and left further acquisitions for later.


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## springhill (2 May 2011)

I am loving Bohannan's "just watch" attitude, these guys are absolutely driven to production by years end.

However, the panel hearing isn't until June 7, yet they are possibly looking at another acquisition. I hope the panel doesn't take this as BTU thinking they have carte blanche to go ahead and do as they please. Any thoughts this may put panels nose out of joint and they may pull the reins on BTU in some way?
Due respect should be shown in all matters.

Oldblue or others thoughts?


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## oldblue (2 May 2011)

Just a thought, but maybe it's an acquisition to augment the Takitimu mine in the Ohau region that they bought recently from Eastern Resources?


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## springhill (2 May 2011)

oldblue said:


> Just a thought, but maybe it's an acquisition to augment the Takitimu mine in the Ohau region that they bought recently from Eastern Resources?




It's reported in the AFR, "New Zealand coking coal junior Bathurst Resources is set to announce the acquisition of a coal lease near its existing lease holdings and an associated $55 million capital raising."

Not a subscriber, so don't have the full article.


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## oldblue (3 May 2011)

Thanks, springhill.

AFR's article doesn't exactly rule out the Ohai (not Ohau - my mistake!) area but the Buller leases look to be more likely.


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## oldblue (3 May 2011)

The announcement is out and it's the acquisition of Brookvale's Buller assets. A good move, IMO, particularly as it enhances the value of BTU's own Buller project with additional consents and improved access.

A slight disappointment in that shareholders aren't to participate in the capital raising - via placement - but at less than 15% of issued capital the dilution factor isn't great.

At $1.05, the placement should be quickly snapped up.


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## oldblue (3 May 2011)

UBS to lead the capital raising.

http://www.theaustralian.com.au/bus...esources-raising/story-fn4xq4v1-1226049068243

And it's "Brookdale", not "Brookvale".


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## oldblue (4 May 2011)

Capital raising has been completed.

http://asx.com.au/asxpdf/20110504/pdf/41yfy4qj84tc7v.pdf


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## springhill (6 May 2011)

Bathurst announces 2nd offtake agreement with CITIC.

http://www.asx.com.au/asxpdf/20110506/pdf/41yhw1n32t7wr4.pdf

Media report here.

http://finance.ninemsn.com.au/newsbusiness/aap/8245762/bathurst-signs-up-citic-for-buller-coal


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## oldblue (7 May 2011)

Yes, good news.

There is of course a fine line between committing enough production to ensure that the project gets off the ground without discouraging other parties who might pay more, or even, make shareholders an offer for the whole company that we couldn't refuse.

All speculation on my part and I'm sure that Bohannan and Co are up with the play on this.


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## springhill (7 June 2011)

Consent hearings for BTU's Buller Project begin *TODAY*.

Buller Mayor Pat McManus is in favour. Buller District Council and West Coast Regional Council both support the mine, saying environmental and other impacts can be mitigated.

Royal Forest & Bird Protection Society of New Zealand against.

DoC says it is neither for nor against the mine, although it has pointed out environmental issues that need mitigation.

http://www.radionz.co.nz/news/business/77145/buller-coal-mine-hearing-begins


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## oldblue (8 June 2011)

Some Buller residents are angy about BTU's plans for siting of the coal handling facility.

http://westportnews.co.nz/thursday.pdf


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## oldblue (9 June 2011)

A recent report from Radio New Zealand re the resource consent hearing.

http://www.radionz.co.nz/news/national/77145/buller-coal-mine-hearing-begins


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## oldblue (11 June 2011)

Westport News reporting on the first week of the resource consent hearing.

http://westportnews.co.nz/friday.pdf


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## oldblue (20 June 2011)

This morning's report from Radio New Zealand re the consent hearing.

http://www.radionz.co.nz/news/national/78152/fears-for-ecosystem-if-west-coast-mine-approved

The expected opposition from conservation interests. Hopefully, the local economic benefits will carry the day.


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## ob1kinobi (20 June 2011)

Thanks for the update OB,

The SP has taken a hammering over the last three days.

Fridays volume was on the large side too.

It looks as though there could be a test of support at .90 - .92 unless we see a ST bounce


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## springhill (22 June 2011)

Bathurst has announced an agreement with NZ Govt owned Solid Energy for a facility sharing agreement, which in essence, optimises facilities owned by both companies, therefore minimising environmental implications by eliminating some duplicity. The agreement provides for collaborative mine planning and designs on the plateau where the two companies have common boundaries, jointly planned access to water, space where available for Solid to use Bathurst's slurry system for bringing coal off the plateau, and rights for Bathurst to put some facilities inside areas covered by Solid Energy's coal mining licences.

http://www.asx.com.au/asxpdf/20110622/pdf/41zbrlg8j42hq1.pdf
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10733750

I wonder if this announcement has been made in time to be put before the hearing commitee?

What's your reading of the play so far oldblue?
The greens look to be pulling out all the stops at the consent hearing, especially banging on about climate change, even though CC can not be taken into consideration as part of the decision to allow or not allow mining to commence.


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## oldblue (22 June 2011)

The Collaborative Agreement is good news and the timing is " convenient" to say the least. Co-operating with Solid Energy will minimise the proliferation of the two companies' facilities and impact on the wider area.

It's also a positive boost for the Lyttelton Port Company which has been badly affected by the earthquakes and the loss of Pike River Coal's tonnage.

Opposition from the Greens was always going to be fierce once the consent hearing commenced but I'm cautiously optimistic that the project will eventually get the green light, probably with some caveats on operation or other concessions.


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## springhill (22 June 2011)

oldblue said:


> The Collaborative Agreement is good news and the timing is " convenient" to say the least. Co-operating with Solid Energy will minimise the proliferation of the two companies' facilities and impact on the wider area.
> 
> It's also a positive boost for the Lyttelton Port Company which has been badly affected by the earthquakes and the loss of Pike River Coal's tonnage.
> 
> Opposition from the Greens was always going to be fierce once the consent hearing commenced but I'm cautiously optimistic that the project will eventually get the green light, probably with some caveats on operation or other concessions.




Have you seen the AFR piece?

http://www.afr.com/p/opinion/bathurst_emerges_from_battlefront_yYBDc89vMEUrLStr1O5EJN

It says:

Hearings wrapping up; BTU has been hit hard re share price, but if anecdotal evidence is an indicator, things may be looking up. 

*Originally 42 objections. BTU whittled them down to 12. Only 4 of them have turned up to hearings, and so far, none of them have been "show stoppers". *

Hearings are expected to last 3 weeks. Some complainants have asked for an extension because they didn't get their submissions in on time. 

Shares in BTU have increased by 559% over the past year (GASP FROM ME!) as BTU moves towards development. BTU was entered into the ASX200 last week. 

Talk is BTU remains confident of a positive outcome, despite the attention of the Coal Action Network environmental group, which is opposed to any new or extension of existing coal mining due to greenhouse gases. 

BTU is expecting first production in late 2011.


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## springhill (28 June 2011)

CLSA has initiated coverage on BTU as of 21st June.

http://www.bathurstresources.com/files/files/904_20110621_CLSA_Initiate_Coverage.pdf


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## oldblue (28 June 2011)

Thanks, springhill. A comprehensive analysis.

Meanwhile, it's been announced that the resource consent hearing will reconvene on 6 July.


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## oldblue (7 July 2011)

Resource consent decision expected soon.

http://westportnews.co.nz/wednesday.pdf


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## oldblue (7 July 2011)

Resource Consent hearing update.

http://asx.com.au/asxpdf/20110707/pdf/41znjb0g4yryqs.pdf


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## springhill (9 July 2011)

A link to all applicant and submittant evidence for BTU's escarpment project.

http://www.wcrc.govt.nz/escarpment/hearing.html


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## oldblue (13 July 2011)

Today's news.

Denniston mine plan favoured by local councils' staffs.

http://www.stuff.co.nz/business/industries/5275431/Denniston-mine-plan-favoured


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## oldblue (8 August 2011)

Decision from the Resource Consent hearing expected by 26 August.

http://www.asx.com.au/asxpdf/20110808/pdf/42083ydc524vjr.pdf


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## springhill (26 August 2011)

BTU into trading halt, resource consent has been granted, waiting on an announcement regarding the terms and conditions.

http://www.asx.com.au/asxpdf/20110826/pdf/420nnphgmxcv4j.pdf


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## oldblue (25 October 2011)

No news yet on the appeal but meanwhile BTU has made a conditional purchase of a cranberry farm! - for other (coal related) purposes.

http://westportnews.co.nz/friday.pdf


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## maungatapu (29 October 2011)

oldblue said:


> No news yet on the appeal but meanwhile BTU has made a conditional purchase of a cranberry farm! - for other (coal related) purposes.
> 
> http://westportnews.co.nz/friday.pdf




The newspaper report is about Solid Energy not BTU opening a small mine at Reefton. Solid Energy does have tenements adjoining Bathhurst near Westport.
I think a judge has been appointed. No starting date yet but expected to take 6 months then a decision 3 months later. Can't see it starting before Xmas. BTU could settle by mediation which I would say is the preferred option. As you probably know one of the appeals has nothing to do with mining the escarpment.


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## oldblue (30 October 2011)

Hi, maungatapu.

Note that my post was made on Tuesday 25 October - it related to an article dated Friday 21 October. It seems that the Westport News link defaults to the "current" Friday, in this case 28 October, and that there was an article  on Solid Energy on that day.

Coal is a big deal on the Coast!

Cheers


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## mr. jeff (31 October 2011)

Who knows where this is headed and why it is being avoided!





Interesting volume.
No serious buying either. Looks like a lot of waiting.


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## Gringotts Bank (6 March 2012)

In order to maintain uptrend, will need to sit above 80, in the upper 1/2 of the parallel lines.  Probably good buying at these levels.  Dropping into the 70's would be a sell.


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## oldblue (20 March 2012)

News from Westport.

http://westportnews.co.nz/monday.pdf


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## springhill (22 July 2012)

UBS has increased its holding in BTU from 36m shares to 44m.
http://www.asx.com.au/asxpdf/20120720/pdf/427j5cbh780sg9.pdf


*HIGH COURT HEARING DATE ANNOUCED FOR CLIMATE CHANGE DECLARATION APPEAL*
Bathurst Resources Ltd (ASX & NZX: BTU) is pleased to announce that the hearing of the appeal against the climate change declaration made in Bathurst’s favour on 1 May 2012 will be heard in the High Court on 30 July 2012.
Buller Coal Limited, Bathurst’s wholly owned subsidiary, made an application to the High Court seeking the transfer of the climate change appeals directly to the Court of Appeal, bypassing a hearing in the High Court. Bathurst’s reason for seeking the transfer was to avoid potential significant delays in obtaining a hearing date before the High Court.
Whilst Bathurst is disappointed that the climate change appeals will not proceed directly to a hearing in the Court of Appeal, Bathurst welcomes the expeditious timing of the High Court hearing. Bathurst is now finalising its preparations for the hearing.
The climate change declaration appeal does not affect the timing of the Environment Court hearing of the primary appeal against the resource consents which will commence on 29 October 2012


I don't really keep an eye that closely on BTU and as long as they are tied up in court cases, there is not much point really.
It has been sad to see what green legal action can do to such a promising company, and even when greens lose their action, they still persist with appeals. So much for abiding by the umpires decision!
I guess for the astute buyer it is a joy to watch the SP drift, considering the reserves they have and the high quality of them.
Get your timing right and this could be super lucrative. A drift to the low 20s/high teens would have me seriously considering a small stake.


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## springhill (23 July 2012)

L1 Capital lift their stake from 68.5m to 79m shares.
http://www.asx.com.au/asxpdf/20120723/pdf/427k1w9xfblpzk.pdf


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## springhill (8 August 2012)

Some quick information from BTU's D&D presentation.

*APPROVALS FOR ESCARPMENT PROJECT*
♦Resource Consent Granted on 26 August 2011 - 2 appeals remaining

1. West Coast Environmental Network/ Royal Forest & Bird on Climate Change impacts
-Hearing on climate change found in Bathurst’s favour
-Further appeal lodged May 17
-Appeal hearing 30 July 2012


2. West Coast Environmental Network/Royal Forest & Bird appeal on environmental grounds-Experts engaged on data gathering
-Evidence submitted June
-Hearing 29 October 2012

♦DOC Access & Concession Pending
-Application lodged
-No major issues raised
-Final review in progress


Not invested in BTU, but if they get all the court crap out of the way, they have the makings of a great company. Timing and entry price the key here.


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## springhill (17 August 2012)

Nice reversal from BTU, this chart is a day behind. BTU closed at 43.5c today and topped out at 46.2c.
Well done them.


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## oldblue (6 September 2012)

Encouragement from BTU to get that "court crap" out of the way!


http://www.stuff.co.nz/business/industries/7620994/West-Coast-miner-We-re-ready-to-hire


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## oldblue (13 September 2012)

Meanwhile, NZ greenies continue to make life difficult for BTU.

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10833623


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## oldblue (4 October 2012)

From the Westport News:

http://westportnews.co.nz/wednesday.pdf


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## Rockboy1986 (18 October 2012)

Looming court date is coming closer, fingers crossed the share price repeats the result of the environment court decision. Seems to be holding pretty steady around the 45-46 cent mark


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## System (6 July 2013)

On July 1st, 2013, Bathurst Resources Limited (BTU) was delisted from the ASX following the admission of Bathurst Resources (New Zealand) Limited (BRL), the successor entity of the company to the Official List. 

Discussion of this company now continues in the BRL thread: https://www.aussiestockforums.com/forums/showthread.php?t=27008


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