Altona Energy Share Discussion Threads

[zulu88] 02/12/2014 07:12

Good news for Altona shareholders today.

I sense that the new directors will be more proactive in updating shareholders om progress.

[pembury] 27/11/2014 11:11

JV announced and a share price of 0.8p!

[bashers2] 18/11/2014 18:06

I was thinking just our luck CNOOC gone and we get another bunch of shysters!

[bashers2] 18/11/2014 17:47

Yes Sino-Aus Energy looks like a different outfit altogether - based in Virgin Islands. That's something I suppose Pembury!

[pembury] 18/11/2014 11:27

Different company I think Bashers.
Not sure if this is accurate but I think the ex Chairman of CNOOC is behind S-A?. If true then he obviously likes the potential, as we do.

[gravydays] 18/11/2014 11:20

Suspect that is what Pembury is alluding to but he's not sure. Hence the 'dyor'!

[bashers2] 18/11/2014 10:14

Is this the same Sino Aus that's been investigated by the ASX?

[p0pper] 18/11/2014 07:11

Pembury, who is then, spill the beans.

[pembury] 17/11/2014 20:05

Interesting who is behind Sino-Aus dyor!

[newkid] 17/11/2014 18:59

azalea. CNOOC already did the footwork with regards drilling contractor.

[anotherardbeg] 17/11/2014 15:00

Konil sensible post

[azalea] 17/11/2014 13:18

Whilst I assume the contract for the drilling will be put out to tender,I suspect those responsible already have in mind who they are going to choose, which will not be based on price.

[fozdad] 17/11/2014 13:10

In terms of immediate timescales, the effective date of the JV starts when

- The JV has consent from the Oz Foreign Investment Review Board
- The JV has ministerial consent to transfer the licences
- Shareholder approval fo rth eshare issue

Looking back at the CNOOC JV, FIRB approval was obtained within 5 weeks of application and ministerial consent to transfer the licences back to ANR after the CNOOC JV took 6 weeks.

The General Meeting to approve the share issue is due on Dec 15th.

So, we could possibly see all of these events completed by the end of the year, certainly January at the latest.

The first tranche of cash for the JV is scheduled for 1 month after the effective date, which means the path should be clear to appoint the drilling contractors, possibly in Q1 next year.

[cube boss] 17/11/2014 12:12

Mogwhy and the likes of him don't know anything more than the rest of us do! one thing we all know is that a deal is done and they want to progress at speed! ;0)))

[konil] 17/11/2014 11:35

the past is the past. how very true.

imo the big plus now compared with the jv with cnooc is that arckaringa is likely to be a much much bigger deal for the parties now involved (sino-aus, wintask, anr) than it ever was for a huge company like cnooc and therefore the new jv partners will be keen to proceed as quickly as possible. also no matter how keen or not cnooc might have been, they would no doubt have suffered the usual chinese treacle-like red tape syndrome, which hopefully will not be an issue now.

let's hope for the best.

[azalea] 17/11/2014 11:05

The past is past. With the JV signed and sealed it is in all participants interest to get this show on the road, "the BoD assures shareholders that its focus will be on working closely with its partners to complete the test drilling programme AND submit the BFS within the two year time frame agreed".

[fozdad] 17/11/2014 11:00

Mogwhy,

That's it is it?

So you don't have any information as to how the project will progress, what needs to be done, what the milestones are, what resources will be available..... in fact, you don't know anything about it, but because the signing of the contract took longer (agreed, much longer) than planned, this means that the production of the BFS (which is obviously just like agreeing the basis of the JV) won't be completed on time.

OK, errrrr it's an opinion I suppose.

I don't know anything about the plans for the BFS either (although I'm informed that a strict timetable is in place), but I'm more impressed by the fact that the JV parties have laid out when the cash will be provided for all to see.

It's amazing how committing large amounts of capital can focus the mind on meeting targets.

[mogwhy] 17/11/2014 10:47

fozdad - on the 23rd June 2013 - "It is encouraging that Sino-Aus and Wintask have invested so much time with the project to date and we are pleased that they wish to conclude the negotiation of the JV agreement on or before 31 July 2014".

It took until 13th November to complete.
An over-run of 3.5 months over a short projected timescale of 5 weeks.

With estimates like this there is no chance they will complete a drilling
campaign and complex BFS successfully within 2 years - just my opinion given
the past history of this project.

[azalea] 17/11/2014 10:45

FWIW
I think two years is ridiculous. This is not a BFS starting from scratch, i.e, hey guys we think there is a huge coal resource in this area but we have to do xyz even before we can be sure its there, and then we have to figure out what we can do with it.

[fozdad] 17/11/2014 10:15

Moghwy, to come up with a statement like that, you must know what the timescales and plans are and have intimate knowledge of the resources that will be applied by the JV.

Please share this info, we'd all be interested to see how you came up with a zero chance of completion within 2 years.

To the best of my knowledge, the only people who are in a position to forecast the timescales are the people who provided the target date, but you appear to have better info than they have available.

[pembury] 17/11/2014 10:08

That is their forecast not mine, seems a fair forecast whether they deliver it or not comes down to good (or bad) management.

Options can only be issued at 1). 1.5p if they secure JV funding (done) and 2). Options at 3p if they hit targets ie completing BFS.

[mogwhy] 17/11/2014 10:07

pembury - Operating cash and funding finance to completion of the BFS
is certainly not guaranteed.
The chance of the BFS being completed within 2 years is zero.

[pembury] 17/11/2014 08:52

All comes down to management delivery now, everything is in place with a 45% cost carry and this MUST be the last dilution for a number of years until BFS in the bag!. There should be no excuses.

Operating cash and funding finance in place to BFS!.

[richgit] 16/11/2014 19:15

I have added another 1 Million and I thought they would be costing at least 3p

The Market has 2 years to fight for the shares available,so if things now
run true to plan, that will be a hugely bankable BFS and an appropriate Market Cap many multiples of today.


The subscription shares will not be coming to market so the only stock around
will be those PI`s that wish to sell 25p shares (or far more)for Capitulation levels.