Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Shares in Australian coal play Altona Energy (ANR) have bounced almost 50% to 0.43p since we highlighted director Nicki Lyth’s recent flight to China to save the company’s 7.8 billion -tonne Arckaringa coal project in South Australia. Now sporting an AIM value of £2.8 million, the company, whose shares traded above 8p five years ago, awaits the first tranche of A$6 million (£2.75 million) due in early December as part of the A$33 million which its Chinese joint venture partners, Sino-Aus Energy Group and Wintask Group, have been persuaded to put into Arckaringa.
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