personally I have been adding to my holdings in these times of a very very crappy market. I don't know if the 'sub-prime' crisis has finished - certainly the brokers I speak with are all a bit frayed ( as is my portfolio) but nevertheless I still keep buying. Why do I buy more? simple. the sector holds out great hope for both commercial success and financial gain as a speculator/investor. The geothermal; space is starting to get a bit bigger and will continue to do so for some time. I think that the eventual success of GDY's habanero 3-? will underpin the sector. There are lots of pros and cons for greenrock, all have which been posted on hc threads. I stay bullish because the frac testing will start soon even though there has been delays. It is an important step for the company and my understanding is that the data that will come out of it will be crucial to attract the right partner for the 2 subsequent wells that follow. All going well the company should get $4M in the can from the exercise of the 40m oppies due late April ( as I speak the shares are 9.3c so on todays price the oppies won't get exercised but I am confident that the sharemarket won't stay crap for the next 3 months and the frac stims will bring new investors into the stock and the price will rise. The caveat I have is that GDY's Hab 3 becomes a duster and the whole sector goes into the doldrums again. From what I read about Hab 3 it is going well and as time goes by the risk of it being a dud are diminishing very quickly. Further on the funding front, if the oppies come in the company will have about 6M in the bank. They should then be able to get a government grant for up to $5M for OD. That would be very positive.
Overall whilst being disappointed with the delays in securing the equipment for the frac stims, I am glad it is very close to happening. The sector will perform well this year and profits are available for the astute investor. The next month or two should be very exciting. good luck omg
GRK Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held