17 holes were drilled out of 48 proposed but abandoned because of EXTREME weather conditions - a week of temps exceeding 43 deg. What other explorers in the same area abandoned operation because of the heat? What mining ops were closed due to recent cyclone activity up north? Temporary setbacks. What U explorer finds the big grades with the first round of drilling?
Drilling at Callabonna hasn't been abandoned - probably starting again as we speak.
Did you note the temps recorded in new Geothermal licences = "One of the new applications (GELA 508) covers an area where deep drilling has already
determined that hot granites exist at depth. Yerila 1 was drilled in 2005 and established a
temperature of 64oC at a depth of 675 metres. This equates to an overall temperature
gradient of 68.5oC per kilometre, one of the highest gradients recorded in Australia" and "is under
the proposed development route for a new 275 kV NEM powerline connecting the geothermal
projects of the Cooper Basin and Paralana areas to potential markets" so,watch this space
For all those who paid 0.003c a share, or slightly more, very happy chappies.
CUU is a different company to MKY - judge CUU by it's results, not MKY's. CUU is 3 months old - hardly enough time to form an opinion one way or another. I'll give it a bit more time than 3 months
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