Altona Energy Share Discussion Threads

[cube boss] 14/11/2014 07:50

You sold already Risk1? hope you haven't as you will struggle to get in this morning!! Happy days guys, this is what we have been waiting for.;0)))

[liquid millionaire] 14/11/2014 07:45

Altona Energy Plc

("Altona" or "the Company")

Final Results

Altona (AIM: ANR) is today pleased to announce its final results for the year ended 30 June 2014 and gives notice that its Annual General Meeting is to be held at the offices of BDO LLP, 55 Baker Street, London, W1U 7EU on 16 December 2014 at 11am. The Company issued an RNS relating to its new joint venture agreement at 7am today.

Highlights

-- New Joint Venture agreement signed on 13 November
- Committed investment of AUD33 million by the JV partners

- JV partners to provide Altona with additional working capital of GBP2 million

- Product focus is Coal-to-Methanol, coal-chemical and synthetic gas production, due to global market demand

- Arckaringa BFS to projected be completed within 2 years

-- Completed placing agreement with Wintask to subscribe for 230,000,000 shares for gross proceeds of GBP3.22 million

-- Terminated joint venture agreement with CNOOC and MoU with Duwa
-- Michael Zheng appointed Interim CEO
-- Welcomed Mr Qinfu Zhang to the board of Directors as representative of Wintask
-- Cash in bank as at 30 June 2014 of GBP1.9 million
Michael Zheng, Executive Chairman and Interim CEO of Altona, commented, "2014 has become a pivotal year in the history of Altona, following today's announcement regarding the new joint venture agreement with our partners Sino-Aus and Wintask. Although the past 12 months have been a testing time for the Company and its shareholders, we believe this next phase in development will provide us with a solid foundation for increasing shareholder value over the next two years."

For further information, please visit www.altonaenergy.com

[liquid millionaire] 14/11/2014 07:44

Altona Energy Plc
("Altona" or "the Company")

Arckaringa Joint Venture

Altona (AIM: ANR) is today pleased to announce that Altona, Sino-Aus Energy Group Limited ("Sino-Aus") and Wintask Group Limited ("Wintask") (together the "JV Partners") have signed an agreement in respect of the terms of the Arckaringa project joint venture ("Joint Venture Agreement" or "the JV") on 13 November, 2014, and have incorporatedan Australian joint venture entity, Arckaringa Coal Chemical Joint Venture Co Pty Ltd, with the quantum of the contributions to be made in stage payments by Wintask and Sino-Aus totalling AUD$33 million. The Company will post its final results for the year ended 30 June 2014 at 7.01am today.

Highlights

· Investment into the Arckaringa project by Wintask and Sino-Aus of AUD$33 million

· Initial drilling programme and Bankable Feasibility Study ("BFS") targeted to be completed within two years

· Wintask and Sino-Aus will provide Altona with working capital of £2 million, subject to certain conditions, through a subscription of Altona ordinary shares of 0.1p each ("Shares")

· The product focus of the Arckaringa project will be Coal-to-Methanol, coal chemical and synthetic gas production due to market demand and reliance of proven technology

Michael Zheng, Altona Energy's Executive Chairman, commented:

"We are delighted to have reached this milestone agreement with Sino-Aus and Wintask, which are both fully committed to the project. The new JV entity has been created to complete the BFS at Arckaringa, and ultimately to bring this world-class project to fruition. I would like to thank our shareholders for their patience and loyalty and we offer our promise that our entire focus will be on driving forward the drilling programme and BFS and further development of Arckaringa project, which will lay a solid foundation for future production."

For further information, please visit www.altonaenergy.com

[risk1] 14/11/2014 07:39

Nobody bothered about the phat rns think i will sell

[lufcscott] 14/11/2014 07:32

Cube good morning

[risk1] 14/11/2014 07:30

A phat rns

[someuwin] 14/11/2014 07:24

Excellent!

[cube boss] 14/11/2014 07:23

Should be a very good day guys! Enjoy....;0)))

[loverat] 14/11/2014 07:11

Looks like news of JV.

RNS Number : 0309X

Altona Energy PLC

14 November 2014

Embargoed until 7.00am 14 November 2014

Altona Energy Plc

("Altona" or "the Company")

Arckaringa Joint Venture

Altona (AIM: ANR) is today pleased to announce that Altona, Sino-Aus Energy Group Limited ("Sino-Aus") and Wintask Group Limited ("Wintask") (together the "JV Partners") have signed an agreement in respect of the terms of the Arckaringa project joint venture ("Joint Venture Agreement" or "the JV") on 13 November, 2014, and have incorporatedan Australian joint venture entity, Arckaringa Coal Chemical Joint Venture Co Pty Ltd, with the quantum of the contributions to be made in stage payments by Wintask and Sino-Aus totalling AUD$33 million. The Company will post its final results for the year ended 30 June 2014 at 7.01am today.

Highlights

-- Investment into the Arckaringa project by Wintask and Sino-Aus of AUD$33 million

-- Initial drilling programme and Bankable Feasibility Study ("BFS") targeted to be completed within two years

-- Wintask and Sino-Aus will provide Altona with working capital of GBP2 million, subject to certain conditions, through a subscription of Altona ordinary shares of 0.1p each ("Shares")

-- The product focus of the Arckaringa project will be Coal-to-Methanol, coal chemical and synthetic gas production due to market demand and reliance of proven technology

Michael Zheng, Altona Energy's Executive Chairman, commented:

"We are delighted to have reached this milestone agreement with Sino-Aus and Wintask, which are both fully committed to the project. The new JV entity has been created to complete the BFS at Arckaringa, and ultimately to bring this world-class project to fruition. I would like to thank our shareholders for their patience and loyalty and we offer our promise that our entire focus will be on driving forward the drilling programme and BFS and further development of Arckaringa project, which will lay a solid foundation for future production."

For further information, please visit www.altonaenergy.com or contact:

[pembury] 12/11/2014 08:03

Will all happen soon!.

[p0pper] 12/11/2014 07:38

I know what ANR are doing, they are waiting for I'm a celebrity get me out of here to finish and they will appoint the winner, LMFAO

[cheekyfella] 12/11/2014 07:35

excellent posts fozdad
nothing to report from my contacts though meeting them next Tuesday.

[mc7y] 11/11/2014 20:33

thank you fozdad for keeping the spirits up
you would have been good in the trenches too

[topgun1000] 11/11/2014 20:12

If that doesn’t cause a massive rise in the sp, then nothing will but it should also be the start of a string of announcements including:

- New CEO
- Replacement for Peter F (even more important than the CEO in my opinion)
- Acceptance of the JV by the SA authorities
- Release of funding
- Appointment of drilling contractors
- Start of drilling

I like it :)

[fozdad] 11/11/2014 17:51

Thanks Fulham, and I agree with your points. For balance (and not an anti Chinese sentiment), I am hoping that we see a CEO appointed who is non Chinese and who is strong enough to stand up to our JV partners.

In the original MOU RNS, CL stated that a partnership between Sino-Aus and ANR "would have the potential to take the Coal to Liquids/ Coal to Methanol project through to completion". As we know so little about who Sino-Aus are, it's difficult to be able to comment on that claim. All the more reason to have a strong CEO who is independent from our partners.

It will also be interesting to see whether we manage to retain operatorship this time round. I'm really hoping that we have learned lessons from the CNOOC catastrophe, we need to be able to force the pace, but given the Chinese connections, I wonder whether that would be possible.

Anyway, we should find out "shortly".

[fozdad] 11/11/2014 12:17

WARNING: this post cantains an optimistic viewpoint that some viewers may find offensive

I don't know about anyone else, but I see December 8th as a "line in the sand".
This is the date CL leaves the company and this date wasn't just plucked from the air.

I believe that CL was forced to go by the JV partners (they most probably already had someone else in mind to fill the CEO role) and part of the leaving deal was to ensure CL picks up his options as a current employee.

Remember, he must be an employee at the time “that the Company has entered into a binding agreement with a third party to fund the Arckaringa Coal to Methanol BFS” to qualify for his options.

I am also told that compliance with AIM regs is one of the reasons for the delay, this gives me increased confidence that the 3 parties have reached or are pretty damned close to reaching agreement. Just in time for CL to benefit?

So, I am feeling as confident as I can be that we will have news on the JV in the next 4 weeks.

If that doesn’t cause a massive rise in the sp, then nothing will but it should also be the start of a string of announcements including:

- New CEO
- Replacement for Peter F (even more important than the CEO in my opinion)
- Acceptance of the JV by the SA authorities
- Release of funding
- Appointment of drilling contractors
- Start of drilling

We will also see the final results and the AGM in the next few weeks. Whilst the results are pretty much irrelevent at this stage, I think the AGM could be an interesting event this year and I'll be making every effort to attend.

One thing is for sure, when the JV partners release the funds for the BFS, they won’t want to be sitting around waiting for a nice sunny day, they will want to see a return on their investment and that means full commitment to producing the BFS asap.

My brain is telling me that I am already over committed to ANR and it would be reckless to invest more, but every other part of my bod is telling me that I should be making one last top-up with news imminent.

So far, the brain is winning, but it may be fighting a losing battle after writing down my thoughts!

[fozdad] 10/11/2014 09:21

Hardly a surprise, there is little else to be said until we have news one way or the other.

Even Crazy has stopped his 'trust me' posts about imaginary inside news from imaginary analyst friends.

A few people may take positions in anticipation of good news, others may lose patience and sell up but apart from that, it's yet again a waiting game.

[risk1] 09/11/2014 21:13

Not a private punter in sight no wonder this is so boring

[pembury] 06/11/2014 10:49

buy price up 1.01p, 'new phase' upon us soon!

[risk1] 05/11/2014 14:45

Well the market makers should create a market the not mark it down on demand like i said cespit which is aim

[pembury] 05/11/2014 14:18

it is try buying size under 1p

[risk1] 05/11/2014 14:12

It isnt going up so not sure it is important mate

[pembury] 05/11/2014 13:58

I make that 696k Buys v 0 sells. add to that 500k Buy at the close last night.