Altona Energy PLC Update on meetings in Australia (8896L)
24 April 2018 - 4:01PM
UK Regulatory
TIDMANR
RNS Number : 8896L
Altona Energy PLC
24 April 2018
24 April 2018
Altona Energy Plc
("Altona" or "the Company")
Update on meetings in Australia
Altona (AIM:ANR) is pleased to provide an update on recent
meetings held this month in Australia. Representatives from
Sino-Aus Energy Group Limited ("Sino-Aus") and Wintask Group
Limited ("Wintask"), Altona's two major Asian investors travelled
to Adelaide to meet with Altona's CEO, Nick Lyth and Brenton
Newell, Altona's geologist.
Mr Newell presented an outline exploratory drilling proposal and
Altona is pleased to be able to report that all parties agreed to
proceed with the exploratory drilling phase subject to receipt of
the necessary drilling permit and land access consent. The Company
anticipates expanding this initial phase to ensure that all areas
which potentially contain economically extractable coal will be
drilled. Much of the southern part of the Westfield tenement has
never been adequately explored.
The Company expects to be in a position to update the market
soon regarding the timing and extent of the drilling programme.
Sufficient funds to complete the exploratory phase have been
transferred to Altona's Australian bank account.
Nick Lyth, CEO, commented as follows:
"I am very pleased that both Sino-Aus and Wintask, having
discussed the exploration phase drilling programme with Mr Newell,
have agreed with Altona that the Company should proceed as quickly
as possible.
"Whilst in Australia I also met with a number of non-coal
exploration companies and it has become apparent that the resource
sector generally and M&A activity in particular is starting to
pick-up. Projects are seeking finance and this may present Altona
with opportunities in the future."
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 +44 7769 906
Officer 686
Northland Capital Partners Ltd
(Nomad and Broker)
Matthew Johnson / Gerry Beaney
(Corporate Finance)
John Howes (Corporate Broking) +44 20 3861 6625
This information is provided by RNS
The company news service from the London Stock Exchange
END
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