It has been a mixed 12 months for Altona Mining as the company’s share price fluctuated between a low of 8.4 cents and a high of 45 cents. While its share price halved between January and March, it is significant that the substantial amount of capital raised during this period necessitated the issue of more than 200 million shares.

Though the earnings per share dilutive nature of this transaction could be seen as a negative, the $70 million equity raising that was fully underwritten by Credit Suisse Australia is a sound endorsement of the company’s prospects.