Altona Energy Plc Appointment of Consulting Geologist
February 26 2018 - 2:00AM
UK Regulatory
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 +44 7769 906 686
Leander (Financial PR)
Christian Taylor- Wilkinson +44 7795 168 157
Northland Capital Partners Ltd (Nomad and
Broker) +44 20 3861 6625
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
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