re: Ann: Quarterly Activities Report and Appe...
Good discussion here folks. DrDaz, you mention that geothermal projects require production wells to be drilled before closing funding deals. As I understand it, the site at Copahue already has four wells that have been drilled and the resource has been measured. Fact. I believe that this is why Torey has been able to arrange senior debt with IDB. He has a drilling loan with CIFI which will fund the production wells which will, as you say, allow for close on the senior debt.
As for the need for risk capital, I totally agree. Any rights issue would likely be undersubscribed, so we are relying heavily on the CIFI preferance share raising. Success here will likely breed success.
I'm with boppy on the MT survey. I think that this is aimed at increasing the overall resource estimate and possibly looking at alternative sites that are less sensitive to the local Mapuche community at Caviahue. It is also one of the few things that the company can do until money comes in.
EHR Price at posting:
0.4¢ Sentiment: LT Buy Disclosure: Held
