Some interesting reading in that Qtrly, I recommend any shareholders or prospective ones to give it the time to read. There is a lot going on with Altura at the moment.
I like the update of the JV discussions with Atlas and this quote in particular
"The Mt Webber DSO project is now being viewed by Atlas as a combination of the original Mt Webber project (30% Altura / 70% Atlas) and the 100% Atlas owned Dalton’s project."
What strikes me there is the 'now' part...... as though they have changed their mind. They also go on to say they expect discussions to be finalised in Qtr 4 of this year. I get the impression relations are a little frosty between Atlas and Altura on this JV. With Atlas looking to really rampy up production in financial year they are leaving it pretty late to do so if JV discussions won't be concluded for potentially another 5 months, that doesn't give much time to build the mine..... I can definitely smell a buy out of AJM's 30% here, if anything just to keep their 2013 production targets on track.
And for one I am very glad that Altura has money in the bank and other avenures to make it (Tabalong Coal mine) as this gives them room to move in negotiations, they they don't need the cash at present.
The estimated $45mil for AJM's portion is more than they have in the bank in the short term but nothing too exhorberdant and I think AJM could raise that money.... The longer I'm in AJM the more I think the directors are a savy bunch of business men and I think AJM has the aces at the moment with MtWebber..... 12 months back I was all about get Mt Webber under way! But I have changed my tune a little now.... I am happy to wait this out a little longer to see who blinks first...
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