Pike River Coal says global prices for coal should help it achieve steady revenues when it finally reaches full production.
The company needs to raise $45 million through an issue of shares, after a rock fall at its mining operation north of Greymouth delayed a ramp-up in production.
Pike River says it was relying on revenue from sales in June to fund the final capital cost payments for the new mine.
Chief excutive Gordon Ward says the $45 million raised will also help pay for clearing the rock fall.
Although the delay is problematic, he says hard coking coal prices are holding up on international markets.
Mr Ward says the company does not anticipate having going back to shareholders again to raise further funds.
