Dual-listed Bathurst Resources has responded to an Australian stock exchange's "please explain" query that it has no information which can explain a share-price decline and increase in shares traded since last Friday.
The ASX queried why Friday's closing price of 89c per share had fallen to an intra-day low of 78c on Tuesday, while at the same time an increase had occurred in the volume of shares traded.
Bathurst has recently been awarded various resource consents to proceed with plans for a hard-coking coal mine on the Denniston Plateau near Westport, but three parties have lodged challenges in the Environment Court.
If the court challenges can not be mediated before any Environment Court hearings, it has been estimated Bathurst's proposal to begin mining operations by the end of the year could be set back by up to three months.
Bathurst's managing director, Hamish Bohannan, yesterday told the ASX the company was not aware of any information that had not been announced, which if known could be an explanation for recent trading in its shares.
Bathurst was not aware of any more appeals being lodged.
The deadline was 5pm yesterday, and the company said it would update the market on closure of the appeal period.
