Is it time geothermal companies got together somewhere in Australia and made some sparks? Light up a few light bulbs to prove to the OZ people, the government and investors that geothermal can work in practise not just theory.
It�s been up to 10 years and millions of dollars in big salaries to management and staff of geothermal companies - still no sparks.
GDY sent out car bumper stickers 3 years ago THE COLDEST BEER from the HOTEST ROCKS, still no free geothermal power to the Innamincka Pub. Lots of statements that the 1MW test plant is a priority. How much longer will the long lunches go on in the board room, and litres of coffee drunk by the staff, the burn rate on capital before the beer at the Innamincka Pub is cooled by HOT ROCKS ?
If it is not possible to drill the new wells and get the 1MW test plant at the Innamincka site operational in the very near term, then maybe join up with another geothermal company that has proven tenements close to the power grid.
PAX has Salamander at Penola in SA, they seem to be directing their resources to their projects in Indonesia.
Is this a possible option?
Purchase 50% Salamander tenements from PAX assuming for sale at reasonable price? Our spare rig, staff expertise, a few dollars, a joint application to Gov for a grant to drill and then to power up. Power to the grid in 18months?
A near term income to the companies, investor confidence in Geothermal power returns share price rises to 2008 levels, capital raising for larger projects possible.
Just a few thoughts from a very disappointed long term investor.
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