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Exploration the key focus for Altona Energy as it works to de-risk and sell off coal asset

Nicholas Lyth, chief executive of Altona Energy (LON:ANR) tells Proactive's Andrew Scott this year is all about exploration for them.

''We've now got  a partner on board who's willing to support and fund us and we're going to use that money to explore the Westfield tenement and hopefully by the end of 2018 we'd have found what we're expecting to find … in 2019 we'll be progressing it on to a bankable feasibility study'', Lyth says.

''We've got a  £6mln market cap … we've got a lot of coal in the ground, the macro-economic conditions are really at the sweet spot for us at the moment and we've got a joint-venture partner with very, very deep pockets''.

''Our plan is to prove up the resource and de-risk the opportunity for a big player to come in and buy the business''.

 

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