Yes I think it's a great strategy for GreenRock to look toward developing conventional geothermal in Australia's hottest region. "The prospective aquifers reach a thickness in excess of 1,200m in this location at depths in excess of 3,000m. These thick, deep aquifers have the potential to contain high temperature water flows suitable for conventional geothermal energy production." If this bears out will provide very competitively priced energy from the region.
The reasons for investing in GRK now are clearly stacking up. Verification of the huge potential and strategic positioning of the Olympic Dam project, ventures in Hungary, Europe's best geothermal area, new GEL's in the Cooper Basin that are exciting prospects, and a highly experienced management team, including Europe's foremost EGS scientist.
They are progressing at a measured rate and will access the grant money at the appropriate time, so I see them going from strength to strength and am happy to buy at the present very low price.
GRK Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
