This article is 18 years old. Images might not display.
The company completed an initial public offering in July this year, raising $85 million, allowing a repayment of short-term loans from shareholders of $16.5 million the same month.
Pike River Coal posted substantial drops across the board for the past financial year, attributed to pre-production expenses accumulating in a net deficit for the year of $657,000.
The mine is set to come online in the first quarter of next year and reach production levels in excess of 1 million tonnes in 2009.
It has an in-ground reserve of hard coking coal and hard fluidity coal of 58.5Mt and at full production will be the largest coal export mine in New Zealand.
