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Atrum Coal Limited

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    Atrum Coal Limited

    By admin | | Comments are Closed | 22 April, 2021 | 0

    Atrum Coal Limited
    Capital Raising

    Atrum Coal & Argonaut

    Argonaut acted as Lead Manager and Bookrunner to successfully raise $22 million for Atrum Coal Limited at an issue price of $0.23 per share by way of a two tranche placement (“Placement”) in 2020. The funds were used towards the Elan Coal Project as well as for infill and exploration drilling and coal quality testing at the site. A previous transaction included an $8.0 million Two Tranche Placement and a $2.6 million 1 for 5 non-renounceable Entitlements Offer (“Entitlements Offer”) at an issue price of A$0.10 per share in 2018 which was heavily oversubscribed by existing and new domestic and international institutional investors.

    Atrum Coal Limited (ASX:ATU) is a metallurgical coal development company whose flagship venture is the wholly-owned Elan Hard Coking Coal Project in the Crowsnest Pass area of southern Alberta, Canada. This project hosts large-scale, shallow, thick, Tier 1 hard coking coal (HCC) deposits of the Mist Mountain Formation. Atrum Coal Limited is also engaged in the Groundhog and Panorama Anthracite Projects in northern British Columbia, Canada.

    Argonaut Capital Raising Transactions for Atrum Coal

    $22,000,000 Placement
    Lead Manager and Bookrunner
    2020
    Read More
    $8,000,000 Placement
    $2,600,000 Entitlement
    Lead Manager
    2018
    Read More

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