Altona Energy PLC Sino-Aus Financial Contribution (9022U)
April 12 2016 - 3:58AM
UK Regulatory
TIDMANR
RNS Number : 9022U
Altona Energy PLC
12 April 2016
12 April 2016
Altona Energy Plc
("Altona" or the "Company")
Sino-Aus Financial Contribution
Altona (AIM: ANR), the owner of a world class coal resource in
South Australia, is pleased to advise shareholders that its joint
venture partner, Sino-Aus Energy Group Ltd, Hong Kong ("Sino-Aus
HK") has paid the majority of its first tranche financial
contribution to the joint venture company, Arckaringa Coal Chemical
Joint Venture Co Pty Ltd.
Sino-Aus HK has made a payment of AUD$4 million with the balance
of AUD$1.4 million expected before the end of April, once approval
for this transfer has been received from the Chinese
government.
Further, Mr Qinfu Zhang, Executive Chairman of Altona and Mr
Yin, Chairman of Sino-Aus HK are attending the Liquefied Natural
Gas Conference in Perth this week (for more details visit:
http://lng18.org/), which will be followed on 15 April with a
meeting in Adelaide with Parsons Brinckerhoff (Australia), the
mining engineering specialists, to discuss the initial planning
phase for the drilling programme at the Arckaringa Project.
-ends-
For further information, please visit www.altonaenergy.com or
contact:
Altona Energy plc +44 (0)7555
Qinfu Zhang, Executive Chairman 679 245
Leander (Financial PR) +44 (0)7795 168
Christian Taylor- Wilkinson 157
Northland Capital Partners Ltd
(Nomad and Broker)
Matthew Johnson / Gerry Beaney
(Corporate Finance)
John Howes / Abigail Wayne (Corporate +44 (0)203 861
Broking) 6625
About Altona
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).
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCGGUQACUPQUMP
(END) Dow Jones Newswires
April 12, 2016 03:58 ET (07:58 GMT)
Altona Energy (LSE:ANR)
Historical Stock Chart
From Sep 2024 to Oct 2024
Altona Energy (LSE:ANR)
Historical Stock Chart
From Oct 2023 to Oct 2024