Shares of Australian Pacific Coal (ASX:AQC) jumped as much as 19.4%, marking their highest point since May 18.

The coal mining company has secured a debt fund of up to $50 million from one of the leading global commodities trading firms.

The new influx of cash will be used to recommence operations at its thermal coal mine in New South Wales.

Sales from the Dartbrook mine are projected to begin in the first quarter of 2024, a move that will reinstate operations in the final quarter of 2023.

This comes despite the company’s stock declining by 27.9% this year up until the most recent close.

Australian Pacific Coal (ASX:AQC) is a coal mining company focusing on thermal coal production in New South Wales.