Allegiance Coal (ASX:AHQ) raises $10M to fund New Elk
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Allegiance Coal (AHQ) has successfully completed a placement after raising $10 million in total proceeds
The placement enjoyed significant interest from European institutional investors, including new investor Deutsche Balaton
Proceeds from the placement will fund development and production at Allegiance Coal’s New Elk Mine in Colorado
The company is also conducting a share purchase plan, in which shares can be bought at the placement price
Allegiance Coal is up 6.41 per cent and trading at 8.3 cents per share
Allegiance Coal (AHQ) has successfully completed a placement after raising $10 million in total proceeds.