All quiet on the PTR front, I wonder what management are up to?...

All quiet on the PTR front, I wonder what management are up to? I no longer hold, so I have not bothered asking them, but it would be interesting to see what they are doing with their time / investors money during this dry spell.

Last time I spoke with management, they were busily attempting to secure a rig, and had engaged the services of Global Power Solutions and Australian Drilling Associates. I wonder if this is still the main objective, or if progress has been made?

The $8 million cash position must be comforting for holders, and, pending Beach's $30 million contribution, could see the bottom of the first HEWI well.

For those who continue to hold, this excerpt from the quarterly is of interest:

"A recent visit to geothermal and research facilities in the US by the Company’s executives with Petratherm’s US based consultants, reviewed operating geothermal energy plants and technology development in
California’s Imperial Valley. This review confirmed that advances in conventional (double flash) steam generating plant have greatly improved operating efficiencies to the extent that they are capable of commercially exploiting thermal resources with 23% lower grade than those targeted at Paralana."

Encouraging, but what price levels define commercial capability? Do they refer to the ability to produce at less than wholesale price, or the ability to be economically competitive with coal?

Does anyone have any interesting news regarding PTR?

Cheers