I think its AGM have a pretty simple concept in mind with this move.
The granite in some mines in Tasmania on the West Coast is warm. Not hot enough to do anything with, but may be an indicator of geothermal potential.
AGM are the experts at drilling in Tasmania. If, following a review of available data the indicators suggest its worthwhile drilling, then the project will proceeed further.
Some people may call this as "jumping on the bandwagon", which of course it is. Very Very smart. Tie up leases on potential hot rocks, and if its a goer proceed further.
If it is a goer, AGM will without doubt leapfrog ALL other Australian players because of their drilling expertise, proximity of infastructure (water, power grid etc), and importantly the totally outstanding management this company has. No question about that!
AGM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
