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Newsroom
13-06-2025
- Business
- Newsroom
Two fast-tracked mines delay applications
Bathurst Resources Limited doesn't expect to file a fast-track application for its West Coast coal project until November, instead of the original estimate of mid-June. CEO Richard Tacon said the decision was made to ensure the company put its 'best foot forward' and ticked all boxes on the first go. But conservation advocates say the announcement shows the Stockton project's vulnerabilities: 'every gust of public pressure brings it closer to collapse', said one. Meanwhile, the company behind another listed fast-track gold mine, the Bendigo-Ophir project, announced a similar delay, but did not have an estimate of when it expects to file its application. In March, Bathurst presented at a packed West Coast Conservation Board meeting. The company then estimated its fast-track application would be lodged around the middle of this month, and noted complexities and social licence as factors under consideration. But on June 12, Bathurst presented to a higher power – the NZ Conservation Authority – and listed an estimated application date of November. Tacon told Newsroom the project had had 'a bit of a slippage'. The complexity of the application meant 'the level of front-end loading needs to be probably a lot more than what we had originally planned for'. Tacon said 'We're taking the view that we don't want to put an application that's going to get knocked back, particularly in the early stages. So we are consulting with a lot of people, including the NZ Conservation Authority.' The meeting on Thursday was held in good faith, Tacon said. But before the company had the chance to notify the market and the public via an announcement, Tacon said he was fielding queries from interested parties, not more than 20 minutes after the meeting, which was 'pretty disappointing, actually'. He acknowledged 'there's a lot of angst locally over whether this thing's going to be approved or not. And we want to make sure that we put our best foot forward.' Some of that angst came from West Coast residents supporting the project, who wanted to see it approved and to boost employment in the community. But angst also came from conservationists, who didn't want to see the country's largest coal mine expanded. Some of the latter group entered Stockton Mine's operation and occupied its coal transportation buckets for nearly three days before their arrest. One of the protesters, 350 Aotearoa's Adam Currie, told Newsroom the delayed application 'gives us time, and you bet we will be using it'. 'Escalating uncertainty and delay is dragging the application process closer to the 2026 election and the real possibility of a new government less willing to greenlight coal mines on kiwi habitat,' Currie said. Tacon was less concerned with activists and more concerned with local stakeholders. But opponents to the project had been an active presence at the site. 'You know, we've seen signs up to say that they're going to do harm to our diggers, which we're taking to mean our people. If that's the approach they want to take, well, then there's laws of the land that will deal with that,' Tacon said. According to Currie, whoever had displayed such signs was not a part of 350 Aotearoa, and he assumed 'blocking diggers' referred to machinery, not staff. Tacon said the buck stopped with local stakeholders and regulatory decision-makers. 'Ultimately, if the people of the West Coast don't want us there, we won't be there,' he said. Environmental organisation Forest & Bird ran a legal campaign against Bathurst's expansion plans in the past. Tacon said the effect of the protracted case 'is delays, it costs a lot more money, and we don't end up with a better result'. But Forest & Bird's advocacy head Richard Capie said a delay wasn't enough. 'It needs to be ditched completely.' He thought fast-tracked projects could face more opposition. 'The scale of opposition to a massive open cast coal mine which would permanently destroy this unique part of New Zealand and wipe out native species, and their habitats, is overwhelming.' Bathurst wasn't the only mining company to post a delay. Santana Minerals Limited, operator of the Bendigo-Ophir gold mine, had its project listed on the fast-track. A June 13 stock market update from the company announced it would not meet its original June 30 application target. 'While the majority of consultant reports required for the FTAA Application have now been completed and received, a group of ecological reports are still awaiting consultant finalisation, holding up the final submission,' read the submission. Capie said the fast-track's history made a rocky road for projects in the pipeline. 'Years of community engagement and investment in building up social licence is clearly being placed at risk,' he said. The Government's choice 'to ignore thousands of submissions that highlighted just how problematic and unworkable this legislation was going to be' meant the fast-track 'isn't working for anyone, let alone delivering anything 'fast'' he said. Capie believed the existing Covid-19 fast-track would've achieved the efficacy sought by developers But the new regime's 'removal of environmental safeguards, closing down of community participation and resurrection of zombie projects' made it ripe for opposition.
Yahoo
07-05-2025
- Business
- Yahoo
Bathurst Resources Limited's (ASX:BRL) top owners are retail investors with 54% stake, while 24% is held by institutions
Hedge funds don't have many shares in Bathurst Resources. Our data shows that Republic Investment Management Pte. Ltd. is the largest shareholder with 17% of shares outstanding. With 8.6% and 7.1% of the shares outstanding respectively, Talleys Group Limited and VP Fund Solutions (Luxembourg) SA are the second and third largest shareholders. Additionally, the company's CEO Richard Tacon directly holds 0.9% of the total shares outstanding. Bathurst Resources already has institutions on the share registry. Indeed, they own a respectable stake in the company. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see Bathurst Resources' historic earnings and revenue below, but keep in mind there's always more to the story. Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing. Let's take a closer look to see what the different types of shareholders can tell us about Bathurst Resources. Institutions, on the other hand, account for 24% of the company's stockholders. Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. To get a sense of who is truly in control of Bathurst Resources Limited ( ASX:BRL ), it is important to understand the ownership structure of the business. With 54% stake, retail investors possess the maximum shares in the company. In other words, the group stands to gain the most (or lose the most) from their investment into the company. The considerable ownership by retail investors in Bathurst Resources indicates that they collectively have a greater say in management and business strategy Story Continues On studying our ownership data, we found that 16 of the top shareholders collectively own less than 50% of the share register, implying that no single individual has a majority interest. While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. As far as we can tell there isn't analyst coverage of the company, so it is probably flying under the radar. Insider Ownership Of Bathurst Resources The definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it. Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances. Our information suggests that insiders maintain a significant holding in Bathurst Resources Limited. Insiders have a AU$18m stake in this AU$170m business. We would say this shows alignment with shareholders, but it is worth noting that the company is still quite small; some insiders may have founded the business. You can click here to see if those insiders have been buying or selling. General Public Ownership The general public, who are usually individual investors, hold a substantial 54% stake in Bathurst Resources, suggesting it is a fairly popular stock. With this amount of ownership, retail investors can collectively play a role in decisions that affect shareholder returns, such as dividend policies and the appointment of directors. They can also exercise the power to vote on acquisitions or mergers that may not improve profitability. Private Company Ownership We can see that Private Companies own 9.6%, of the shares on issue. It might be worth looking deeper into this. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. Private companies may also have a strategic interest in the company. Next Steps: While it is well worth considering the different groups that own a company, there are other factors that are even more important. Case in point: We've spotted 1 warning sign for Bathurst Resources you should be aware of. If you would prefer check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, backed by strong financial data. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Otago Daily Times
23-04-2025
- Politics
- Otago Daily Times
Arrests as West Coast coal mine protest ends
Three protesters were arrested today at the Stockton mine on the West Coast. Photo: Supplied / Climate Liberation Aotearoa Further arrests have ended demonstrations at a West Coast coal mine after a group of protesters tried to shut the operation down. The mining company Bathurst Resources is seeking fast-track approval to extend its Stockton mine and extract 20-million tonnes of coal from the Denniston and Stockton Plateaux over the next 25 years. Seven people were charged with trespassing earlier this week. On Wednesday, another three protesters were arrested with details on the charges still being finalised. Last week, about 70 people camped on Denniston Plateau, before several protesters on Monday climbed into cable cars used to transport coal, in order to halt operations. Police said there were no protesters left at the mine by Wednesday night. In a statement, Bathurst chief executive Richard Tacon said it takes the safety of anyone at its mining sites very seriously. "Individuals illegally occupying Stockton mine infrastructure at Ngakawau and the Escarpment mine on the West Coast have now left of their own accord, following Bathurst's formal issue of trespass notices, and New Zealand Police presence," he said. "We are pleased that the situation has now been resolved and we have been able to ensure those involved are now safe." The company alerted Police, WorkSafe New Zealand and the Department of Conservation when learning of the protest action, including concerns for trespassers' safety, Tacon said. "We are deeply thankful to the many members of our local Westport community for reaching out to extend their support for our West Coast operations over the past few days. "This especially includes our West Coast workforce for their patience while their work has been interrupted." He said the coal mine is back to full operations. Climate activist Adam Currie said protesters would continue to fight the mine. "We've stalled at least two days of coal extraction, sent a clear message to Bathurst and the government, and shown that people are ready to resist the Fast Track Act and the climate-wrecking projects it enables," he said. "Support has poured in from across the motu, and local folks have backed us by bringing baking, offering places to sleep, and sharing their own frustrations with the mine. "Our resolve is stronger than ever."
RNZ News
23-04-2025
- Politics
- RNZ News
West Coast coal mine protest at Stockton ends as police arrest three more demonstrators
Photo: Supplied / Climate Liberation Aotearoa Further arrests have ended demonstrations at a West Coast coal mine after a group of protesters tried to shut the operation down. The mining company Bathurst Resources is seeking fast-track approval to extend its Stockton mine and extract 20-million tonnes of coal from the Denniston and Stockton Plateaux over the next 25 years. Seven people were charged with trespassing earlier this week. On Wednesday, another three protesters were arrested with details on the charges still being finalised. Photo: Supplied / Climate Liberation Aotearoa Last week, about 70 people camped on Denniston Plateau, before several protesters on Monday climbed into cable cars used to transport coal, in order to halt operations. Police said there were no protesters left at the mine by Wednesday night. In a statement, Bathurst chief executive Richard Tacon said it takes the safety of anyone at its mining sites very seriously. "Individuals illegally occupying Stockton mine infrastructure at Ngakawau and the Escarpment mine on the West Coast have now left of their own accord, following Bathurst's formal issue of trespass notices, and New Zealand Police presence," he said. "We are pleased that the situation has now been resolved and we have been able to ensure those involved are now safe." The company alerted Police, WorkSafe New Zealand and the Department of Conservation when learning of the protest action, including concerns for trespassers' safety, Tacon said. Richard Tacon Chief Executive of the coal company Bathurst Resources Photo: Supplied "We are deeply thankful to the many members of our local Westport community for reaching out to extend their support for our West Coast operations over the past few days. "This especially includes our West Coast workforce for their patience while their work has been interrupted." He said the coal mine is back to full operations. Climate activist Adam Currie said protesters would continue to fight the mine. "We've stalled at least two days of coal extraction, sent a clear message to Bathurst and the government, and shown that people are ready to resist the Fast Track Act and the climate-wrecking projects it enables," he said. "Support has poured in from across the motu, and local folks have backed us by bringing baking, offering places to sleep, and sharing their own frustrations with the mine. "Our resolve is stronger than ever." Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
