Altona Energy Plc Appointment of Consulting Geologist

 
TIDMANR 
 
26 February 2018 
 
                               Altona Energy Plc 
 
                          ("Altona" or "the Company") 
 
                      Appointment of Consulting Geologist 
 
Altona (AIM: ANR), a coal exploration company focused on South Australia, is 
pleased to announce it has engaged the services of a local and highly 
experienced consulting exploration geologist, Brenton Newell, to work with the 
Company in the initial stages of its project. 
 
Mr Newell, is a geologist with over 30 years' experience in a range of 
commodities, and has worked with many companies in Australia, ranging from BHP 
Billiton to ASX-listed junior explorers. 
 
Mr Newell is charged with designing an exploration programme focused on the 
south-west of the Company's Westfield tenement, based on the recent WSP 
Australia Pty Ltd and Runge Pincock Minarco Global desk-top surveys and all 
other data at his disposal from the 40 years of exploration in the Arckaringa 
Basin. Once this report is completed and an exploration programme has been 
approved by the board, Mr Newell will then oversee the ground exploration 
activity, which will be carried out by a well-regarded, Adelaide based 
geological contracting and consulting company, Euro Exploration Services, Pty 
Ltd ("Euro Exploration"). 
 
Euro Exploration provides both specialist consultant advice and a complete 
exploration service, ranging from project generation and management, to the 
supply of field personnel and equipment, including the latest in ground 
magnetometer technology for geophysics surveying. 
 
Dr Fran Parker, the Tenement Manager with whom the Company has now worked with 
for many years, and who provides a key relationship between the South 
Australian government's mining department and Altona, has agreed to support the 
completion of the project. Dr Parker is a highly experienced geologist and well 
connected with the mining regulator. 
 
Nick Lyth, CEO of Altona, commented, "From the outset of moving the new 
strategy forward, we realised we needed to achieve two things quickly; firstly, 
to build a solid team of local experienced mining professionals and secondly, 
to tighten the focus of exploration into a tenement which we believe will bring 
the best return to shareholders. 
 
"The team we have now assembled has, we believe, more relevant experience in 
the target area, whilst being cheaper and more effective than our previous 
consultants. Once this initial survey phase of the Westfield tenement has been 
presented to the Company, we will be in a better position to report back to the 
market with the next phase of exploration for the project. 
 
"We remain cognisant that the Australian coal industry is currently in an 
up-turn, with coal prices at a very high level and coal exports from Australia 
at a record level. To this end we hope to execute our strategy quickly, to take 
advantage of this market trend." 
 
"I am finally pleased to be able to report that Mr Zhang, Chairman of Altona, 
has recovered following his hospitalisation and has resumed his role of contact 
and liaison with our joint venture partner, Sino-Aus Energy Group Ltd." 
 
This announcement contains inside information for the purposes of Article 7 of 
Regulation (EU) 596/2014. 
 
                                    -ends- 
 
For further information, please visit www.altonaenergy.com or contact: 
 
Altona Energy plc 
Nicholas Lyth, Chief Executive Officer                  [phone] 
 
Leander (Financial PR) 
Christian Taylor- Wilkinson                             [phone] 
 
Northland Capital Partners Ltd (Nomad and 
Broker)                                                 [phone] 
Matthew Johnson / Gerry Beaney (Corporate 
Finance) 
John Howes (Corporate Broking) 
 
About Altona Energy 
 
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 seams contained in three exploration 
licences covering 2,500 sq. kms in the northern portion of the Permian 
Arckaringa Basin in South Australia.  The Project has an historic resource 
exceeding 7.8 billion tonnes of coal (1.3 billion tonnes historic under JORC 
2004). 
 
 
 
END 
 

(END) Dow Jones Newswires

February 26, 2018 02:00 ET (07:00 GMT)