It’s been a hectic couple of weeks here at the BMD Blog we have as some of you are aware been very busy meeting up with like-minded unnamed sources that we feel could help Private Investors. So here we go.
Take a good look at Altona Energy they are currently on a small charge. I did research them last week and met several contacts who were singing their praises however we don’t post until we’ve given them the third degree. I’ve gone through the company and suffice it to say they look like a real serial underperformer that may be about to finally come good.
Altona are a small company and have been listed since 2005. The company holds a 49% interest in three exploration licences covering 2,500 sq.kms in the northern portion of the Permian Arckaringa Basin in South Australia which includes three coal deposits – Westfield (EL4511), Wintinna (EL4512) and Murloocoppie (EL4513). All three deposits lie close to the Adelaide, Darwin railroad and the Stuart Highway. This means that the infrastructure needed to successfully transport is readily available. The whisper here is that the Chinese are now pouring over the company. The company’s chief aim is to commercialize the Arckaringa coal-to-liquids and power project. Altona has forged a Joint Venture with New Energy Investment, a subsidiary of the China National Offshore Oil Corporation (CNOOC), to complete the Project Bankable Feasibility Study and expedite the project’s development.
Now June 23 of this year there was a placement of just over 10 million shares at 9.8p per share the company that took the stake are Tongjiang International Energy Co. Ltd a Hong Kong based company. Tongjiang now have an interest in 86,704,081 ordinary shares of the Company, representing approximately 20.09% of Altona’s enlarged issued share capital. So at the moment the current sp is well below June’s placing price. Altona also have a Coal and Biomass Gasification Agreement with Tongjiang, which was reached in May. The company are looking increasingly tied to the Tongjiang hip. Tongjiang was instrumental in the introduction of China National Offshore Oil Corporation to Altona Energy. There’s an awful lot more to the company that can’t be put in a Blog post so get researching them they look nailed on to spike somewhere along the line this year! If they hit 9/10p then it’s game on.