from proactive15 May 2018 19:56
Altona Energy, together with its partners Sino-Aus Energy Group Limited and Wintask Group Limited, have agreed to proceed with the exploration drilling at the Arckaringa Coal Project, subject to Altona securing the required drill permits and land access consent.
Altona has received the necessary funds to complete the exploration phase of drilling.
The Company expects to update the market regarding timing and size of the drill programme shortly.
Altona Energy continues to be financially supported by its two major Asian investors, Sino-Aus Energy Group Limited and Wintask Group Limited. Altona expects that it will expand the initial phase of drilling which will allow it to test all areas that could potentially contain economically extractable coal.