12 Apr 2016 08:58
12 April 2016
Altona Energy Plc
("Altona" or the "Company")
Sino-Aus Financial Contribution
Altona (AIM: ANR), the owner of a world class coal resource in South Australia, is pleased to advise shareholders that its joint venture partner, Sino-Aus Energy Group Ltd, Hong Kong ("Sino-Aus HK") has paid the majority of its first tranche financial contribution to the joint venture company, Arckaringa Coal Chemical Joint Venture Co Pty Ltd.
Sino-Aus HK has made a payment of AUD$4 million with the balance of AUD$1.4 million expected before the end of April, once approval for this transfer has been received from the Chinese government.
Further, Mr Qinfu Zhang, Executive Chairman of Altona and Mr Yin, Chairman of Sino-Aus HK are attending the Liquefied Natural Gas Conference in Perth this week (for more details visit: http://lng18.org/), which will be followed on 15 April with a meeting in Adelaide with Parsons Brinckerhoff (Australia), the mining engineering specialists, to discuss the initial planning phase for the drilling programme at the Arckaringa Project.
-ends-
For further information, please visit www.altonaenergy.com or contact:
Altona Energy plc Qinfu Zhang, Executive Chairman
| +44 (0)7555 679 245
|
Leander (Financial PR) Christian Taylor- Wilkinson
| +44 (0)7795 168 157 |
Northland Capital Partners Ltd (Nomad and Broker) Matthew Johnson / Gerry Beaney (Corporate Finance) John Howes / Abigail Wayne (Corporate Broking)
| +44 (0)203 861 6625 |
About Altona
Altona is listed on the London Stock Exchange's AIM market. Its principal focus is on the evaluation and development of the Company's flagship Arckaringa Project to exploit the significant coal resources contained in three exploration licences covering 2,500 sq. kms in the northern portion of the Permian Arckaringa Basin in South Australia. The Project is designed to produce syngas products for the Australian market and export from a resource exceeding 7.8 billion tonnes of coal (1.3 billion tonnes JORC compliant).