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Bathurst Resources (ASX:BRL), a New Zealand coal producer, is one of EGP Capital's larger holdings. In August 2024, EGP described Bathurst as a holding with an easy-to-make bear case given its coal exposure, but argued the market underestimates its value, noting the ASX itself may have contributed to negative perceptions. Bathurst Resources operates in the Materials sector within the Metals and Mining industry, and Thesis Tracker has captured 1 comment from 1 fund manager, EGP Capital. Bathurst Resources explores, develops and produces coal in New Zealand through its BT Mining joint venture, supplying metallurgical coal for export and thermal coal for domestic industrial customers, and is developing the Tenas metallurgical coal project in British Columbia, Canada.
Company figures as of 15 Oct 2026. For information only.
Fund managers including EGP Capital have invested in Bathurst Resources Ltd (ASX:BRL).
EGP believes Bathurst's value is underestimated by the market despite an easy bear case, offering potential upside.
EGP acknowledges an easy-to-make bear case due to coal's ESG challenges and limited investor appetite.
Bathurst Resources Ltd. explores, develops, and produces coal through three segments: Export (BT Mining export mine), Domestic (BRL eastern South Island and BT Mining North Island mines), and Corporate (BRL and BT Mining overheads, Buller Coal Project). Founded May 30, 2007, and headquartered in Wellington, New Zealand.
General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.
11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.