21 Apr 2016 07:00
21 April 2016
Altona Energy Plc
("Altona" or the "Company")
Sino-Aus Joint Venture Contribution
Altona (AIM: ANR) is pleased to announce that its joint venture partner, Sino-Aus Energy Group Ltd, Hong Kong ("Sino-Aus HK") has now paid the final AUD$1.4 million of its first tranche financial contribution to the joint venture company, Arckaringa Coal Chemical Joint Venture Co Pty Ltd. ("the JV Company"), taking its initial contribution to AUD$5.4 million.
The board of the JV Company held its first meeting in Adelaide yesterday.
The Company will provide an update with an outline plan and timetable for the drilling programme once it has reviewed a preliminary report from Parsons Brinkerhoff (Australia).
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For further information, please visit www.altonaenergy.com or contact:
Altona Energy plc Qinfu Zhang, Executive Chairman Nick Lyth, Non-Executive Director
| +44 (0)7769 906 686
|
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).
Altona Energy (ANR)