ASX-listed Gateway Mining has secured a funding package of up to A$10-million from cornerstone investor Baker Steel Resources Investment Trust to finance its acquisition of Queensland Coal Investment Holdings (QCIH).
In March, Gateway announced its plan to acquire QCIH, which owns two coal projects in the Bowen basin with a combined resource of 2.6-billion tonnes, for A$10-million in cash and a further A$50.5-million in shares.
