IVZ 0.00% 8.0¢ invictus energy ltd

Ann: Gas Sales Agreement to Deliver Power to Eureka Gold Mine, page-104

  1. 1,390 Posts.
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    It will be far better for us to have the generation onsite at MK and connect into the 33KV local network so that we can add more generation to supply other customers.
    Once we are connected on the 33KV cct, then the interconnection to the 330KV SAPP Grid is mad for a limited capacity from the 33KV until such time as we build a 330KV Generation & Substation at Cabora Bassa Project.
    The other reason that we should have the generation at MK or in a central area of Cabora Bassa is that if the mine does not require the generation fulltime at any point then we can sell to the market.
    Our next step is to get the drill running again and turn MK2 into a production well and Flow Test it.
    For those that are concerned about finances, I would say that we will have funding coming our way without the requirement for another CR.
    It's been worth the wait.
    Even though it is only a MOU, I believe that it is only subject to proving up MK to provide the gas to supply either gas or generation to the mine.
    If the resource is at around 1.2 tcf then they would have enough gas to supply the mine for over a hundred years on it's own.

 
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