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.