Ive put the clipping through the scanner and OCR program, here is the complete article:-
"Allegiance bid to explore for hot rocks
By FRAN VOSS
THE race to produce geothermal energy in Tasmania is heating up with the entry of a second major player.
Allegiance Mining, developer of the Avebury nickel mine on the West Coast, has applied for the State's second special exploration licence for the deep hot rocks capable of producing geothermal energy. The application covers a 3000 sq. km tenement near Zeehan on the West Coast.
Hobart-based KUTh energy took out the State's first special exploration licence in 2005 and is exploring in the State's North and East. Geothermal Energy Tasmania, a wholly-owned subsidiary of Allegiance has been formed to develop geothermal energy.
Geothermal Energy board member and Allegiance exploration manager Lindsay Newnham said the $500,000 initial phase to establish the potential of the resource will begin almost immediately. Mr Newnham said existing exploration data confirms the presence of hot granites at depths of between 2km and 5km on the West Coast. He said geothermal energy produced by the company will be fed into the State's power grid and through Basslink into the national grid.
Allegiance is expected to make an announcement to the Australian Stock Exchange on Monday."
AGM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
