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Altona Energy appoints geologist as Westfield project continues
South Australia-focussed coal exploration company Altona Energy announced on Monday that it has engaged the services of a local and "highly experienced" consulting exploration geologist, Brenton Newell, for the initial stages of its project.
The AIM-traded firm said Newell is a geologist with more than 30 years of experience in a range of commodities, and has worked with a number of companies in Australia, ranging from BHP Billiton to ASX-listed junior explorers.
Newell would be charged with designing an exploration programme focused on the south-west of the company's Westfield tenement, based on the recent WSP Australia 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 that report is complete and an exploration programme approved by the board, Newell would then oversee the ground exploration activity, which would be carried out by Euro Exploration Services.
Altona said 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 has also agreed to support the completion of the project, Altona reported.
It described Dr Parker as a "highly experienced" geologist and well connected with the mining regulator.
"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," said Altona CEO Nick Lyth.
"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 the initial survey phase of the Westfield tenement has been presented to the company, Lyth said it would 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."
Lyth also reported that Qinfu Zhang, the company's chairman, has recovered following his hospitalisation and has resumed his role of contact and liaison with its joint venture partner, Sino-Aus Energy Group.