Altona Energy Share Discussion Threads

[anotherardbeg] 31/3/2015 19:50

Yeah reckon a takeover by LINC for peanuts

[david77] 31/3/2015 17:17

Linc Energy are doing UGC on their property next to Altona's - why not a take-over or joint venture with them?

[tarni] 31/3/2015 16:44

And also jeopardising Tongjiang International Energy Ltd investment back in 2009

[ctaylorw1] 31/3/2015 16:21

Sorry, I meant Pembury!! Haha, penury. Honest mistake.

[ctaylorw1] 31/3/2015 16:20

Penury - at 31 Dec they had £1m cash and cash equivalent. The company will need cash by year end so let's hope the revised JV still allows Sino-Aus and Wintask to subscribe for £2m of shares in ANR. Until we see it there is no point speculating on what the company will or won't receive, nor if it's percentage ownership of the JV company will change. One thing worth remembering is that the chairman of Altona, Mr Zhang, is also in charge of Wintask, who has already invested £3m. I can't see him jeopardising this investment.

[seismick] 31/3/2015 16:14

More dilution coming at 0.2p then mate

[pembury] 31/3/2015 16:11

ctaylorw1. So what cash have ANR got to operate on now just to survive pay the bills, salaries, listing costs etc ?. They have no income and any cash pulled. Do you trust them given the history?.

[tarni] 31/3/2015 16:02

I wouldn't be surprised if the JV percentages changed. That would go along with the RNS stating that no shares have been issued in the JV Company and the Arckaringa exploration licences remain with Altona. What you got to remember is that they didn't come up with this plan yesterday to release a RNS today. They probably already have a draft copy of the new agreement set out.

[bashers2] 31/3/2015 15:59

UCG means new permits, feasibility etc and it's not without its detractors. Lincoln Energy operate in Oz somewhere using this technology - but we're now starting from square one!

[ctaylorw1] 31/3/2015 15:55

Just to clear up the last post, the AUD2 million wasn't given to Altona but was held by the JV company, so Altona is not financially disadvantaged by this change in strategy. CTW

[pwilk47490] 31/3/2015 15:10

Money returned is just a formality/red-tape I guess... to start again.

It needn't be to the detriment of moving on, barring the time it takes (which company says weeks rather than months). Not saying it won't be a worse deal, but no-one really knows that.

[pembury] 31/3/2015 14:47

How do you work that out?. The terms of the JV will change now and delay things even further in regard to finance so possibly more dilution required than before. They have given the cash back which leaves ANR skint. There has always been question marks about Sino-A so will they pull out of this now?.
Why return the $2m- do ANR need a new partner?.

[pwilk47490] 31/3/2015 14:40

I guess they/us/investors must ask them/ourselves.... If the change of direction get's us into production faster and cheaper, then we should make the difficult decision now before we go any further?

Not impressed with the last minute nature of this change of direction, but I guess better now than later? Less dilution in future etc. etc

[bashers2] 31/3/2015 14:34

Fair point Tarni - just couldn't believe the RNS - yet another failure right at point of success and project consolidation - a real shame.

[seismick] 31/3/2015 14:06

Would not surprise me if the Aussie Government pull this license now and give it to someone capable. Is that the Chinese plan?.

[tarni] 31/3/2015 13:28

I shouldn't think that Wintask are looking to loose their 3.2M GBP investment in ANR, so keep faith that we will see the light at the end of the tunnel soon.

[p0pper] 31/3/2015 11:56

Just appears the Chinese want ANR to fail, for what?

[pembury] 31/3/2015 11:01

This will all need to go through the authorities again so don't expect anything to happen on the ground this year IF they agree it (see above).

[pwilk47490] 31/3/2015 10:18

Doesn't show confidence changing their minds this late on in the game!

Just read :

Comercially the option seems sensible as suggested by the BOD, but trials to date have raised a lot of unanswered environmental issues!

[pembury] 31/3/2015 09:20

Unbelievable! JV in tatters again, cash returned!