Altona Energy Share Discussion Threads

[pugugly] 16/1/2019 08:37

No Nomad yet - Looks like end of story - Very downbeat rns - Should have ben obvious - What Nomad would want to run the risk of taking on the problems here.

[yasx] 15/1/2019 00:17

I did warn about this dud a long time ago - those such as Pembury sought to suppress my commentary. Oh well...

[roguetreader] 11/1/2019 10:32

My first post on this thread many years ago, boy have I learned a lot since then. I'm surprised this scam has still got legs. Good luck if your still in I think you are going to need it.

'roguetreader - 17 Sep 2009 - 20:37:14 - 3393 of 19045 Altona - 10 million barrels per year : "a highly exciting project" - ANR

As we're short of news I'll make an observation that I thought interesting (you may or may not). BP's recent big find in the Gulf of Mexico was much trumpeted as being a significant boost to their reserves all be it that the expectation is that they won't be seriously producing from it until 2020. However the few assessments I could find on the cost per barrel of oil produced from this field which is approximately 5 miles down (under water & rock) were consistently around $70 per barrel. BP obviously think oil is going to be considerably higher than $70 a barrel much earlier than 2020 if this field is going to be economic to develop. Altona projections are to produce at an average of $35 per barrel during Phase 1 & 2 of development and at less than $35 from Phase 3 on; this increases my confidence of the long term profitability and inevitable funding of the project sooner rather than later.IMO.

[goodbloke1] 10/1/2019 16:36

I doubt it!

[pwilk47490] 10/1/2019 16:24

Hope they still voted! ;-)

[p0pper] 10/1/2019 10:02

someone wanted out, over 8m shares (in old money) sold in one lump.

[pembury] 09/1/2019 17:23

Agree
From 21p based on Arckaringa prospects to 0.06p and huge dilution since today. They still have Arckaringa but a BoD that has done nothing with it in years just like the last lot despite all the talk.

[vatnabrekk] 09/1/2019 17:13

I can't think of a reason why I should trust the BoD considering the fact that they have totally demolished this company in a very short space of time.

[pembury] 09/1/2019 16:58

Make sure you vote for the 14th &
25th!. Are they deliberately trying to confuse the vote?.
Be careful as the two votes have different wording and number of resolutions!

Trying to pull a fast one?

The question is do you trust this board now?. imo the share price and last six months of news flow will give you the answers you need.

[ctaylorw1] 09/1/2019 14:45

Zhang hasn't enough votes on the board to publish an RNS to show his vision. He has two, Mr Lyth has five (if you include Phil Sutherland). If you want to vote AGAINST his removal then you have to instruct your nominee to vote by 10.45am tomorrow (Thursday 10th Jan). The AGM date, on the 25th Jan, is less important right now. However, I have been told shareholders votes are not being counted towards the GM vote on the 14th due to this confusion of two meetings being called in the same period. Maybe worth a quick call to your stockbroker to ensure your votes have been cast according to your wishes! Hopefully more details will come out in the next few days.

[pwilk47490] 09/1/2019 14:42

Let's hope the largest shareholders see sense..........

[pwilk47490] 09/1/2019 14:40

Interesting from Mr. Zhang.

So why doesn't the guy publicise what he wants to do more? Limited shareholders will ever look on LSE.

Why can't he do a RNS?

He isn't really fighting very hard is he?

[konil] 09/1/2019 14:10

if anyone from this bb is attending the altona agm on 25th january, would they be kind enough to post some notes here after the meeting.

many thanks in advance.

[konil] 09/1/2019 14:10

ctaylor, interesting response from zhang. seems to fall between two stools...

- prior to being diverted by the pyrolysis lyth seemed focused on digging and selling the coal, imo a good idea needing minimum funding compared to other options, and could result in sharp uplift in company value should supply contracts have been successfully fulfilled.
- then he seemed to get sidetracked by the pyrolysis, imo that was a red flag especially given a decade of non-delivery with other options with high finance costs, and the share price has tanked.

according to his response zhang appears to favour neither of the above, apparently preferring the ucg route.

but doesn't ucg need big funding beyond the A$35m which he suggests is still available to altona?

[ctaylorw1] 09/1/2019 11:40

Taken from a post on lse:
The share price is now at an all time low under Nick Lyth. As you know, a number of long- term shareholders have been in touch with Mr Zhang to ask what his plans are for Altona for 2019, and why shareholders should vote against the resolutions to remove him and Mr Ma Chi from the Board.
Here are his reasons to remain as a director:
" 1. Altona's most valuable resource is the coal resource in Australia. Nick Lyth was trying to find a mining expert to explore around the edge of the three tenements, with shallow buried coal seams. The plan was not supported by Wintask and Sino- Aus, who are still focused on UCG technology and coal-chemical production which is very popular in China. Sino -Aus is still very supportive of UCG and is prepared to invest the $Aus 35m which it set aside in 2015 for the project.
2. Currently, we have good news, which is that Leigh Creek Energy has done UCG successfully at their site close to Arkaringa, and the production of the first syngas occurred on the 10th October 2018. It means UCG is developing under the support of the South Australia Government. Mr Zheng, from Leigh Creek Energy, has invited me to visit their demonstration on site.
3. We have to wait for the opportunity and make a breakthrough in our coal resource in Australia, because under the support of the South Australia Government, Leigh Creek Energy has completed the preliminary work of UCG, and soon they are going to the stage of commercial production. We have 7.8 bn tonnes of coal, which is suitable for the development of UCG, and if we focus our efforts on the UCG project, we may get incalculable benefits. We will enter into discussions with Tri Star Energy who hold the PELA which we require.
4. I have also made a proposal to the Board before about investing in a vanadium mine with Altona. There is a very big vanadium mine in China with very good quality of ores. Currently, the price of vanadium pentoxide is 460,000 RMB per tonne. I'm not familiar with the international price but I think it will be more than this price. I suggested the Board include this project into Altona, and I also sent documents and information to the Board. However, they did not recognise it.
5. I get the feeling that they wanted to be involved in the plastic to power ( pyrolysis) generation project. I do not recognise this project because many poisonous gases are released when processing waste plastics, including dioxin which is a big headache of environment protection organisations all over the world.
6. Both this and the new Leinad are involved with John Zorbas's company in Canada, and Leon Hogan and I do not think they are acting in the best interests of shareholders, but for themselves. I am trying to prevent this continuing."

[pwilk47490] 07/1/2019 12:34

Unless i have missed something, what are the finance options if they don't?

Surely the BOD must have this covered?

What are their reasons for this upevil? The chinese guys not keen on this new technique? Why haven't they been fighting?

Any info appreciated.

[ctaylorw1] 07/1/2019 10:58

If Zhang and Ma win the vote at next week's GM then the cash is still available for the Australian coal projects.

[regandharry5] 03/1/2019 12:10

That sums it up nicely then. Lol

[cheekyfella] 03/1/2019 12:10

very good assessment

[the_price_is_right] 03/1/2019 11:30

Big drop due to no business, no sales, no plan, no money, no faith, no compitence, no clue.

[regandharry5] 03/1/2019 10:36

Why the big drop today?

[cheekyfella] 29/12/2018 09:14

last out, switch the lights off please

[daveeeed] 28/12/2018 08:07

https://leinad-energy.com/page/value-proposition/ ?

[the_price_is_right] 20/12/2018 09:20

These are day trading or consolidation buys. No business happening, especially at Christmas from their holiday homes in Monaco.