Shares for the company that wants to mine the Denniston Plateau have hit a new low. Bathurst Resources share price closed on Friday at 7 cents.
That compares with 34 cents in October, when the Environment Court granted consents for the mine. The price got as high as $1.74 in 2011.
Environmental groups are concerned the company does not have the money to mine, but will still clear the land to prepare for the possibility.
Bathurst has said it does have the money; but on Monday it announced it was seeking capital of up to $7 million from shareholders. By Wednesday, it had raised nearly $7.4 million.