Altona Energy Share Discussion Threads

[pembury] 18/12/2015 10:10

30 days and expect they will take it especially this time of year then into NY when everyone is away

[tarni] 18/12/2015 09:59

Not the end of January. Any day from now to the 16th January but unlikely before new shares are issued.

[al h] 18/12/2015 09:31

All I'm seeing is a possible AUD$6 million + 500,000 quid or around £3.5 million

[pembury] 18/12/2015 09:30

we will see if they pay up end of January because they have history!

[tidy 2] 18/12/2015 09:27

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).

[tidy 2] 18/12/2015 09:20

In addition, the Joint Venture Partners, within 30 days of today's date, are to make the first financial contribution into the joint venture company, of AUD$6 million, with Sino-Aus contributing AUD$5.4 million and Wintask contributing AUD$0.6 million.Qinfu Zhang, Executive Chairman of Altona, commented, "We are delighted that today's resolutions have been passed, as this marks a new milestone for the Company and for the Joint Venture with our honoured partners. Once the initial financial contributions have been received into the joint venture company, we will be able to commence our test drilling programme on our Arckaringa site, which represents a significant energy source for Australia and South East Asia

[tidy 2] 18/12/2015 09:13

Cheers Tarni. So their intentions are good and credible. Some nice buying this morn.

[tarni] 18/12/2015 08:59

Pembury at what point didn’t Sino pay. They paid AUD$1.4m on 12/02/15 and then the JV focus was changed and ANR gave back the money. Back in early 15 discusions about the change were on going hence the delayed payment of the remaining 4m. At no point have Sino simply failed to pay on time.


From RNS 13/02/15

On 12 February 2015, Wintask contributed AUD$0.6 million and Sino-Aus made a preliminary contribution of AUD$1.4 million into the JV Company. Sino-Aus has agreed with the JV Company, Altona and Wintask that it will pay the balance of its first contribution, being AUD$4 million on or before 31 March 2015 and the JV Agreement will be amended accordingly.

From RNS 30/03/15

The amendments to the JV Agreement are required as the agreement in its current form is based on a bankable feasibility study ("BFS") for coal-to-methanol, coal chemical and synthetic gas production. It is expected a revised business plan will be agreed within a matter of weeks. As a consequence, the quantum and timing of planned payments into the JV Company, and the proposed investment into Altona by Wintask and Sino-Aus under the JV Agreement are being reassessed by the JV Partners. Pending the revised JV Agreement, the AUD$2 million invested by Wintask and Sino-Aus into the JV Company has been returned. No shares have been issued in the JV Company and the Arckaringa exploration licences remain with Altona.

[seismick] 18/12/2015 08:17

I bet we will get to February and still no news on the payment then comes the RNS saying they are delaying it for so and so days then that comes and they change their mind. Just what we expect here.

[tidy 2] 18/12/2015 08:14

Remember the share price was in the pennies a year ago. Risk reward. Current cap £5m. £16m free carry with this deal

[liquid millionaire] 18/12/2015 08:09

Well that will be good for you then as you should have been paid your money by then unless of course that is delayed?!?!?

[pembury] 18/12/2015 08:07

same company didn't pay a year ago so we will until feb on that - they usually delay also

[liquid millionaire] 18/12/2015 08:07

The past is just that - the past

ANR have new management and new ideas now - the future

[pembury] 18/12/2015 07:59

go back and look into ANR's history mate about failing to deliver for nine years!

[liquid millionaire] 18/12/2015 07:57

What when your money turns up?!?!?

[pembury] 18/12/2015 07:56

yes but Sino-Australia didn't pay up last time OVER A YEAR AGO so we shall see come January end!

[tidy 2] 18/12/2015 07:51

First payment instalment Jan 16th. ANR basically free carried for £16m Current cap £5m

[liquid millionaire] 18/12/2015 07:48

Liquid Millionaire 17 Dec'15 - 11:40 - 18027 of 18046

pembury 17 Dec'15 - 07:12 - 17988 of 18026 1 0

was hoping to receive the cash but not until end of Jan now - been here before me thinks! great response to placing news though



Hence all the de-ramping this morning!

[p0pper] 18/12/2015 07:31

Thanks to Tarni for the AGM feedback, much appreciated.

[pembury] 17/12/2015 21:10

Agree pumpers

[liquid millionaire] 17/12/2015 16:25

Yes very bullish!

[tidy 2] 17/12/2015 14:43

Note the Intraday cup n handle btw guys

[tidy 2] 17/12/2015 14:40

It was 0.7 to sell. You wouldn't get 0.79 to sell 2.5m would you. Solid buy order filled.