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Altona Energy renews South Australian licenses via local joint-venture
Australia-focused coal company Altona Energy told investors on Tuesday that its joint-venture company, Arckaringa Coal Chemical, had been granted a renewal for its three exploration licences on the Westfield, Wintinna and Murloocoppie tenements.
Altona stated that it had reduced the size of the Wintinna license, removing an area considered by the board to be the "least likely to contain economically extractable coal."
The new licences, issued by the South Australia government with minimum expenditure targets of AUD 400,000 to AUD 960,000, expire on 6 June 2019.
As of 1400 GMT, shares had slid 8.12% to 0.368p.