At its annual meeting, Nucoal Resources Limited
(ASX:NCR) has been given the green light by shareholders to raise up to an additional 25 per cent in equity.
Nucoal’s Chief Executive says the company was well funded through until 2014 following a $35.3 million capital raising earlier this year.
The explorer is facing an investigation by the NSW government over its coal permits granted by the previous Labor state government.
Nucoal is also seeking a renewal of its Doyles Creek Exploration Licence.
In the 2012 financial year Nucoal Resources posted a net loss of $4.2 million.
