Business
Why the Allegiance Coal (ASX:AHQ) share price rocketed 40% higher today
The Allegiance Coal Ltd (ASX: AHQ) share price soared 40.3% higher today, before shares entered a trading halt at 2.15 pm AEDT at the company’s request. Allegiance requested the trading halt pending the release of a new announcement.
Today’s big share price gains followed on an earlier announcement, released this morning, relating to the company’s New Elk coking coal mine. That mine is located in southeast Colorado in the United States.
What did Allegiance Coal report to send its shares up 40%?
In this morning’s ASX release, Allegiance Coal delivered a progress report stating that its New Elk start-up mine plan has been finalised. The company expects production, subject to raising the start-up capital requirement, to start…
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