Issue of Equity

15th Sep 2006 16:13

Altona Resources PLC15 September 2006 15th September 2006 Altona Resources Plc ("the Company") ISSUE OF EQUITY OPERATIONS UPDATE Altona Resources plc (AIM: ANR) announces the issue of 6,000,000 new ordinaryfully paid shares to CIM Special Situations Fund at 6.5 pence per share to raise£390,000 in additional working capital. Following completion of the placement, CIM Special Situations Fund is interestedin 14,300,000 ordinary shares in the Company, representing 6.01 per cent of theissued share capital of the Company. Application will be made for the new ordinary shares to be admitted to tradingon AIM. The new ordinary shares will rank pari passu with the existing ordinaryshares in the Company and trading of these shares on AIM is expected to commenceon 21st September 2006. Following this issue, the Company's total number of issued ordinary shares willbe 238,100,000. Operations Update The Company expects to receive by the end of October 2006 the results of thefollowing studies: • the study by Jacobs Consultancy in respect to the technical andfinancial parameters for Coal to Liquids ("CTL") Plant sizes of 15,000 Barrelsper day ("BPD"), 30,000 BPD and 45,000 BPD • the study by mine planning consultants, MineConsult, in respectto the capital costs and operating parameters for an open cut mine at theWintinna deposit, starting at 5 million tonnes per annum ("Mtpa") and increasingto 10 Mtpa and 15 Mtpa, to support the CTL Plant sizes evaluated by JacobsConsultancy • the financial modelling of the integrated mine, CTL and powergeneration business model Following positive outcomes in respect of the above studies, the Company expectsto proceed to the commencement of the bankable feasibility study. -ends- For further information please contact: Altona Resources plcChristopher Lambert, Chairman +44 (0) 207 016 5100Christopher Schrape, Managing Director +61 (0) 417 984 434 Nabarro Wells & Co LimitedHugh Oram, Director +44 (0) 207 710 7400 Parkgreen CommunicationsVictoria Thomas +44 (0) 207 493 3713 This information is provided by RNS The company news service from the London Stock Exchange

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