Altona Energy Share Discussion Threads

[tricky20] 16/4/2015 11:15

Here and there try researching their other companies:

Shanghai Qianqi Petrochemical Engineering Ltd
Shanxi Huaxiang Technology Group Ltd
Shanxi Xuanyuan Investment Group

[here and there] 16/4/2015 10:55

p 33

hxxp://www.altonaenergy.com/pdfs/Altona%20AGM%20Presentation%202014.pdf

[2admiral] 16/4/2015 10:18

Chinese Wintask bought in at 1.4p not far back so still way below that, hope the new deal is good?. Although that is better than l/t holders av. here of 10p+!!!.

[here and there] 16/4/2015 10:07

tricky20….got any links re. sino aus and its experience and financial muscle. i have struggled to find much about them

[21trader] 16/4/2015 10:02

Seen far worse stocks than this spike 100-200% off their bottoms.

still dead wood selling out but the recovery in price has already began.

[tricky20] 16/4/2015 09:47

This is actually a great bit of news at last, though I do not expect the stock to move much until we see more detail on the plans. The fact that we now have a CEO and Chairman from Sino Aus is also positive ,as these guys are the ones with the cash (and contrary to some very misguided and under-researched commentary on the chat lines they do infact have a lot of financial muscle and vast petrochemical experience).A UK based non exec is in the plan and that will also help,just in terms of market communication etc.It will be interesting to see the timeline to production.Could be as little as 2-3 years.

[seismick] 16/4/2015 09:37

Looks like things are advanced now with UCG and Parsons Brinkenhoff involved- agreement news soon then. Quicker way to production a big plus with UCG. Proven bn's tonnes of coal IP so it's all there!.

[here and there] 16/4/2015 09:15

think it will take a while for the implications of this fresh ucg project to kick in. look forward to seeing them publish some sort of presentation.

the capital cost of all previous plans were so vast that the project really struggled to have any realistic viability

[pembury] 16/4/2015 07:57

Agree about the UCG.

[here and there] 16/4/2015 07:49

Not surprised the CEO has quit, after all, he had been pushing for the big project for years.

UCG is a sensible way forward. The state needs power. It is relatively cheap to get going and wont cause a huge environmental headache. Good to see the JV progressing

[21trader] 16/4/2015 07:27

Joint Venture Update

Further to the announcement made on 31 March 2015, the Company is pleased to report that Phil Sutherland, Non-executive Director of Altona, met with representatives of Sino-Aus Energy Group Limited ("Sino-Aus") and Wintask Group Limited ("Wintask"), in Adelaide, South Australia, last week to discuss amendments to the joint venture agreement announced on 14 November 2014 ("JV Agreement").

The JV Agreement will be amended to reflect a bankable feasibility study into an underground coal gasification ("UCG") project, with the objective to produce natural gas from the Arckaringa coal deposit. The JV Partners have engaged with Parsons Brinckerhoff, Australia, and the two parties will meet shortly in Adelaide where the team from Parsons Brinckerhoff will present its recommendations as to the most appropriate method to advance the project given the new focus on UCG. Further details of the revised JV Agreement are expected to be announced in the coming weeks.

[milliecusto] 15/4/2015 14:32

Is this going bust,any reason to buy

[pembury] 07/4/2015 11:04

Surely if UCG is the best/ cheaper route this will be less dilutive?.
Last deal was circa $30m in BFS full cost carry with ANR retaining 45%.

Buys 0.425p down as sells

[pembury] 03/4/2015 14:10

tricky20, a new strategy to get production revenue coming in significantly quicker gets my vote but await detailed plans!.

UCG technology already used by Linc Australia;

[david77] 03/4/2015 11:50

Thanks tricky20, useful observation

[tricky20] 03/4/2015 11:43

A lot of us here are relatively big and long standing shareholders,so the past week has been both true to form for Altona and very disappointing to its shareholders.

Reading between the lines there has clearly been a bust up between Sino Aus, Wintask and Altona management. Management were very enthusiastic about Methanol at the AGM, but I am guessing that that Wintask and Sino Aus have decided that to start with UCG is a much more cost effective and faster (though not higher) return business. This is absolutely true. My guess is that they want to initially build an effective cash generating UCG business. Once that has been up, and running for several years and is a proven success other products may then be considered. Methanol plants etc will certainly be easier to finance under such a scenario and the Company will have built proper cashflows and value.My my assumptions are right this is a far better,though more conservative approach and should see the resource in production within 3 years.

Also remember that we have a highly experienced, politically well connected shareholder and non exec director down in South Australia in Phillip Sutherland.He has been involved for a long time and has been highly influential in obtaining and renewing the licenses etc.He is a major,but often forgotten positive.

Non of us like seeing the share price collapse and the situation is clearly highly precarious.However,Sino Aus and Wintask are not fools and they have extensive petro chemical experience.The jury is certainly out,but we are not fully out of the game quite yet.

[david77] 02/4/2015 11:04

And I bought a million @ 2.54p from my Northacre profits - that was a pretty lousy move :-(

[here and there] 02/4/2015 10:26

yes, much lower capex as well

[pembury] 02/4/2015 10:09

Yep, massive proven resource just sat there endlessly. So what's the plan to bring production revenue in sooner with UCG?

[naplion] 02/4/2015 09:38

Wow, anr, I remember selling at 12 pence and making 100 percent profit and thinking it was a bad descion, look at it now, unbelievable

[pembury] 02/4/2015 08:45

-25% on little volume 0.35-0.4

[newkid] 01/4/2015 12:44

Hi jez66.

I have to agree with all you have written. CL led us down this path when he did a deal with the Tongs. Since,it has apart from one brief moment been a disaster. I have given up on this now. The whole AIM market needs to be put in order to stop Directors paying themselves huge wage packets without any justification. All the money over the last 8 years has been used to pay for their over indulgent lifestyle and not to enhance shareholder value.

CL even had the cheek to walk with a couple hundred thou. I think we should all boycott shares in any company he even speaks to on the phone.

[tarni] 31/3/2015 21:28

I thought Linc were moving out of Oz to focus on UCG in Asia and Europe?