6th Jun 2008 11:31
Altona Resources Plc / Index: AIM / Epic: ANR / Sector: Exploration & Production
6th June 2008
Altona Resources Plc ("Altona Resources" or "the Company")
Completion of Tranche 2 Placement to Tongjiang
Altona Resources, the AIM listed Australian based energy company, advises the completion of the placement of 53,000,000 new ordinary shares at 4.85p per share to Tongjiang International Energy Co. Limited ("Tongjiang") raising £2,570,500 pursuant to Tranche 2 of the share subscription agreement entered into with Tongjiang on 25th February 2008.
Application will be made to the London Stock Exchange for the shares in respect to Tranche 2 to be admitted to trading on AIM and it is expected that admission will be become effective and that trading in the Shares will commence on 12th June 2008.
Following the completion of the Tranche 2 placement of shares, Tongjiang has a 20.9% interest in the issued share capital of the Company
The total number of ordinary shares in issue following the completion of Tranche 2 is 358,165,784.
**ENDS**
For further information visit www.altonaresources.com or please contact:
|
Christopher Lambert |
Chairman |
Tel: +44 (0) 207 024 8391 |
|
Christopher Schrape |
Managing Director |
Tel: +61 (0) 417 984 434 |
|
Hugh Oram |
Nabarro Wells & Co. Limited |
Tel: +44 (0) 207 634 4705 |
|
Alastair Stratton |
Matrix Corporate Capital LLP |
Tel: +44 (0) 207 925 3300 |
|
Victoria Thomas |
St Brides Media & Finance |
Tel: +44 (0) 207 236 1177 |
Notes to Editors:
About Altona Resources
Altona Resources Plc is an Australian based energy Company that was admitted to trading on AIM in March 2005. Altona's primary focus is the completion of a bankable feasibility study for its wholly owned Arckaringa Project for an integrated 10 million barrel per year Coal to Liquid ('CTL') plant with a 560 MW co-generation power facility.
The Company holds, through its wholly owned subsidiary Arckaringa Energy Pty Ltd, a 100% interest in three exploration licences covering 2,500 sq. kms in the northern portion of the Permian Arckaringa Basin in South Australia. These include three coal deposits, Westfield (EL3360), Wintinna (EL3361) and Murloocoppie (EL3362). All three lie close to the Adelaide to Darwin railway and the Stuart Highway. Containing more than 7.5 billion tonnes of coal (based on previous JORC equivalent standards of the time) these coal deposits are effectively one of the world's largest undeveloped energy banks, capable of conversion into clean liquid fuels, low cost power and high value industrial feedstocks.
About Coal-to-Liquids (also see www.altonaresources.com)
CTL is a proven technology which converts coal into more environmentally clean and manageable energy sources including gas and synthetic fuels. The process involves two major stages, gasification to produce synthetic gas ("Syngas") rich in hydrogen and carbon, and a liquefication stage where the Syngas is reacted over a catalyst to produce high quality, ultraclean synthetic fuels and chemical feedstocks.
CTL is a prime example of clean coal technology - the associated combined cycle units produce negligible sulphur oxides, significantly less nitrogen oxides and 10 - 20% less CO2 per unit of power generated than a conventional coal fired plant, whilst carbon capture and storage offers the potential to reduce the overall greenhouse gas emissions from CTL to below the "well to wheel" level of fuels derived from crude oil.
The technology is best demonstrated in South Africa, where currently 30% of the country's gasoline and diesel fuel needs are met through CTL plants.
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