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As it's totally dead in here I was wondering if anyone is still keeping an eye on this?
Is there a new home people are still posting on?
Altona (NEX: ANR.PL), a mining investment company with significant coal resources in Australia, announces that it has entered into a Memorandum of Understanding (“MoU”) with Shaanxi Qianyan Vanadium and Magnesium Mining Industry Ltd Company (“Shaanxi Mining”), the owner of an operational vanadium mine in China, with the aim of forming a Joint Venture Company (“JV Company”) in which it is expected that Altona will eventually become the controlling shareholder.
Both the Company and Shaanxi Mining have commenced due diligence to examine the feasibility of this partnership. However, until a formal joint venture agreement has been signed, the deal is conditional, and not binding on either the Company or Shaanxi Mining.
There can be no guarantee that the discussions in respect of the MoU signed with Shaanxi Mining will be successful and the terms of any relationship are yet to be formulated. However, this is a positive step towards our goal of acquiring an investment in a Vanadium mine.
Information on the MoU
The due diligence process is expected to take up to six months to complete and is dependent upon a number of factors, including Shaanxi Mining being granted a provincial government permit which will allow it to enter into an international joint venture agreement with Altona. During this period, Shaanxi Mining will commission a mineral resource classification report in accordance with the Australian Joint Ore Resources Committee Code (“JORC”). This report is expected to take some five months to complete and will form the basis of a valuation for any acquisition.
When completed the report will help provide a more accurate valuation of the assets of Shaanxi Mining which will determine the quantum of Altona’s initial interest in the JV Company. The consideration for Altona’s acquisition of shares into the JV company is expected to be either cash, shares or a combination of the two.
The successful pursuance of this potential acquisition, and indeed the ability of Altona to pursue all of its strategies, requires the Company to obtain further funding. As previously announced the Company is considering a number of funding options and this may involve a strategy to re-list its shares on the London Stock Exchange, via either AIM or a listing on the Standard Market, which will be planned to coincide with the signing of the joint venture agreement. The board is of the opinion that the liquidity and access to capital provided by either AIM or the Standard Market will be more suited to Altona’s enlarged status and the owner of a revenue generating vanadium mine.
Information on the Vanadium Mine
The Directors understand that Shaanxi Mining, based in Xi’an City, Shaanxi Province, is the majority (80%) shareholder in Shaanxi Shangnan Haodi Youzhi Limited Company which in turn owns 99.5% of the Shaanxi Shangnan Haodi Vanadium Mining Industry Company Ltd (“Shaanxi Vanadium”), which owns and operates a vanadium mine in Shangnan County, Shaanxi Pr
Non-Executive, Christian Taylor-Wilkinson, has taken £10,000 of his director's fees in Altona shares
.
Apparently no one is seeing Altona's RNS these days, which is a frustration for all.
It has been quite for a while now. Does anyone have any update on vanadium mine or PEL license application or any update at all?
Totally agree, we are more likely to get trades if the share price was set back at the pre consolidation level, of 1000-1 at the very least go back to 100-1. I can't help but feel smaller investors would buy at those levels given the sensible direction our current board are taking.
Reverse the joke consolidation and secure this Vanadium project in the near term then it might do well.
ADVFN. NEX. Just not lse who is still in the process of reporting on NEX stocks. Not ideal but as long as one shareholder spots the RNS and informs shareholders we will get by until they sort out the lse website
Which website is Altona RNS showing ?
Out at 7am
Give ii a call mate, same happened with me but after one call it was sorted. You can trade NEX by phone on ii.
I think interims are due next week. A lot going on in background as the pieces are sorted and put into proper place I am not sure if other posters from the old ANR board have discovered ANR.PL ? I only found today There are some new rns from Altona but haven't found them yet Also not sure where/how to trade on NEX. I am with iiIntetaractive, but only shows the original ANR share, but at zero price I assume sunlit and Regie will show up, and what ever happened to Bwana ???
Anyone?
It's as quiet as a morgue in here, anyone know of any more pending news? Seems we need something more than the last RNS to get things moving here.
1 trade? Whats positive and think you'll find there are several today, all sells!
I got confidence in our Chinese bod and at this mcap worth a gamble got 10 k in here now
The rally in vanadium prices is only accelerating with vanadium pentoxide (V2O5) flake used in energy storage systems leaping to $27.50 a pound in China putting it within shouting distance of the all-time high reached in 2005. V2O5 is up more than 550% since September 2016.
Vanadium pentoxide is only a fraction of the overall market and the raw material is primarily used to strengthen steel (today it makes up more than 90% of the market). Ferro vanadium prices jumped 10% just over the past week also hitting a 13-year high to $118 a tonne in Europe. In 2005 vanadium prices briefly peaked at $120 a tonne.
Tell me when it's over 10x this level, the point it was at when last bunch of jokers did the consolidation a few months ago. I hardly think most long term investors will share in your enthusiasm over a few p rise from it's lowest level ever.
If I had a penny for every time over the past ten years or so that I had seen someone say this would be a multibagger, then I would be a very wealthy man. In reality there have been a couple of short 100% jumps followed by a return to where it was before and one big jump something like 8 years ago where you could have made 20x before a drop back. This will go nowhere until someone actually produces something rather than just skimming a salary at investors expense.
At this mcap I'm expecting a 20 to 30 bag this year
HL are selling @19 and buying @ 13
Surely you mean selling @ 13p, buying @ 19p?
Not much going on here. Buying @ 13 selling @ 19