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DJ Altona Energy Plc Update on Convertible Loan Note

31 May 2019 
                               Altona Energy plc 
                          ("Altona" or the "Company") 
                        Update on Convertible Loan Note 
Altona (NEX: ANR.PL), a mining investment company with significant coal 
resources in Australia, announces that its joint venture partner, Sino-Aus 
Energy Group Ltd ("Sino-Aus") has not been granted the Chinese government 
permit, allowing it to transfer funds out of China, in order to satisfy the 90 
day subscription terms of the convertible loan note it entered into on 30 
January 2019. 
Sino-Aus has reported that the conditions set by the Chinese government to 
grant such a permit, have tightened in the past 18 months, but that it is 
willing to reapply for the permit at a later date, as it remains a strong 
supporter of Altona's strategy. 
In the meantime, the Company is considering a number of alternative funding 
options to provide it with the capital it needs to execute its 2019 business 
objectives, including its mining assets is South Australia and the potential 
investment into an operational Chinese vanadium mining company. 
For further information, please visit or contact: 
Altona Energy plc 
Qinfu Zhang, Executive Director                     +44 (0) 7795 168 157 
Alfred Henry Corporate Finance Ltd (NEX 
Corporate Adviser) 
Jon Isaacs / Nick Michaels                          +44 (0) 20 3772 0021 
Leander (Financial PR) 
Christian Taylor- Wilkinson                         +44 (0) 7795 168 157 
Company Information 
Altona is an exploration company focused on the evaluation and development of 
its significant coal resource exceeding 7 billion tonnes (1.3 billion tonnes 
historic JORC compliant) in the northern portion of the Permian Arckaringa 
Basin in South Australia.  Through its wholly owned Australian subsidiary 
Arckaringa Energy Pty Ltd, Altona holds a 100% interest in three exploration 
licences covering 1,944 sq. kms in the northern portion of the Permian 
Arckaringa Basin in South Australia including three coal deposits - Westfield 
(EL5676), Wintinna (EL5677) and Murloocoppie (EL5678).  All three deposits lie 
close to the Adelaide to Darwin railroad and the Stuart Highway. 
The Company was admitted to trading on AIM on 10 March 2005.  A copy of its 
admission documents dated 4 March 2005 can be accessed on its website,  This website is where items can be inspected under Rule 
75 of the NEX Rules for Issuers, from 1 February 2019. 

(END) Dow Jones Newswires

May 31, 2019 05:41 ET (09:41 GMT)