They have gone completely away from hot rocks to mineral exploration, according to their prospectus. How many $millions of investors money and government money were spent at Paralana? But what would have been the result if they got the project beyond the testing stage? What went wrong at Paralana? Perhaps too many technical problems with a well down to 3.8km. Hot water (170C), high pressure and high salinity makes a highly corrosive environment. Just like so many projects, high risk, but potentially high rewards if it worked. Perhaps in another 10 or 15 years someone else might have a crack at it and overcome the technical difficulties.
PTR Price at posting:
3.9¢ Sentiment: None Disclosure: Not Held
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