Altona Mining Ltd.

The Australian company Altona Mining Ltd. is located in Perth and sold successful their Outokumpu Copper-Gold-project in 2014 for over 118 Mio. $. Altona sits on healthy 42 Mio. AUD cash and has no dept. Furthermore owns Altona the large Cloncurry project at Mount Roseby in Queensland, Australia. The resource stands at fantastic 1.65 Mio. tons copper and over 400,000 ounces gold. Through further exploration in the satellite deposits around there should be nearly 1 Mio. tons copper plus gold in addition. The Definitive Fesibility Study from May 2012 shows, that the project is very profitable with a copper production of 40,000 tons and 17,000 ounces gold per annum. This yields in a annual NPV of 253 Mio. AUD with a total revenue of nearly 3 Bio. $ for the initial mine life. The AISC are at 1.96 USD/lbs copper. The Chinese SRIG conglomerate buys into the project to build the Little Eva mine with 66% for 215 Mio. $. the operative lead stays with Altona. There is no dilution, no dept nor interest payemnts. The construction starts 2017 and production shall start in 2019.

Company Objectives

Through the buy-in of SRIG Altona wants now to bring Cloncurry as fast as possible into production and start the mine. Altona owns a 40% share on all future revenues and income. That means that Altona itself will have an approx. 120 Mio. $ revenue p.a. with a pre tax margin of 30-40%!

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Data & Facts

ISIN:AU000000AOH9
WKN:A1C15Y
FRA:A2O
ASX:AOH
Outstanding shares: 537 Mio. Stück

Management

Head Office: Level 1, 2 Kings Park Road
  West Pert, WA 6005, Australien
   
Management: Dr. Alistair Cowden, Managing Director
  Kevin Maloney, Chairman
  Eric Hughes, CFO & Company Secretary
  Roland Bartsch MSc. BSc (Hons)General Manager, Exploration
  Paul Hallam BE (Hons) Mining, FAICD, FAUSIMM, Non-Executive Director
  Steve Scudamore FCA, MA (Oxon), FAICD, SF Fin, Non-Executive Director

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