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Ann: Maiden JORC Resource for Alpha Project, page-40

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wrongsidetrader

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11/03/22

13:31

Post #: 60138728
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Originally posted by gobris: ↑

"Could this be the reason for the shift from the gas/ solar hybrid power plant to the geothermal option?"

The way I read it is that the geothermal project at one of three remote sites is separate and additional to hybrid solar/gas project located at Alpha.
The gas component at Alpha is retort gas coming from the bitumen retort and utilising this gas is integral to bitumen processing. Solar is deployed for carbon offset and presumably for scaling up the power capacity to 100MW.
I think the PFS reference was in relation to geothermal and that we can still expect a DFS for the Alpha project this quarter.
It would be nice to get clarification of the above from the company!

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I think this makes the most sense too @gobris, and hope this will be the case.

Originally posted by jethro73: ↑

My take @gobris from re-reading the MRE announcement is the geothermal option replaces the proposed gas / solar hybrid power plant but again the information is slightly ambiguous and I’m happy to be proven wrong.

Interestingly, further review of the MRE document shows that the geothermal applications were made on 23/12/21 so we may be further along in relation to PFS than I had first anticipated. I guess the burning question for me is can the geothermal option be incorporated into the feasibility study through desktop studies or do we have to drill this out or go down the whole proof of concept route and actually set up something like a pilot plant / demonstrator? If this is necessary what will this do to development timelines and can we anticipate further delays?

I also see the mineral rights applications were submitted on 25/1/22 - from reading some of the NZ experiences with geothermal there is a legal grey area as to whether brine extraction automatically confers mineral rights? I suggest GRV were already aware of this hence the further applications put forward - this to me shows good governance and will be vital in executing a potentially complex project moving forward.

I’m sorry guys for what may seem to be me over analyzing every little minor detail but I have invested a substantial amount of time and funds into GRV as I strongly believe in the project and the proven ability of management to execute their vision. I’m sure all of my questions will be answered by the company in due course but again the latest announcement (for me) has posed more questions than answers at this stage…

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I appreciate the commentary and analysis jethro, I'm sure many others do too. When i first read the announcement i thought the geothermal was to replace the solar/gas, but it is ambiguous. And there's no mentioned of rescinding the solar/gas plan, so i suspect this is still on the cards.

GRV Price at posting: 29.0¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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