Resource Pacific plans to spend $175 million to expand into riskier but potentially more profitable longwall operations at its Hunter Valley coking coal mine. The move would double the one-mine company's market capitalisation to more than $100 million and quadruple its production. Resource Pacific expects to emerge from a trading halt today after last night placing $43.1 million worth of shares at $1 and announcing a $20 million rights issue underwritten by Cartesian Capital; it has also secured $115 million of debt financing.