Shares in litigation-bound West Coast coal mine developer Bathurst Resources have almost doubled during the past fortnight, rising from a record low 13c last month to trade around 22c yesterday.
While about $682,000 has changed hands during that period, the daily trading average of Bathurst shares had risen from about 200,000 shares to beyond 630,000 yesterday and 764,000 on Tuesday, Craigs Investment Partners broker Peter McIntyre said.
''It represents the market seeing some signs of value,'' Mr McIntyre said.
Renewed investor interest may be coming from several aspects of the operation, he said.
Bathurst is beginning to make headway through multiple legal challenges from environmentalists over consents it holds, its revenue streams from small working mines are gaining traction and if Bathurst needs to raise capital, it has that ability.
Up until the share bounce, Bathurst had lost more than 90% of its share capitalisation. The company is due to release its results for the quarter to June soon.
