My understanding is that the GT5000 is part of the intellectual property. As mentioned in the annual meeting notes last year: "Globe Drill has a licence to use intellectual property rights (relating to the GT series of geo-thermal drill rigs) which are owned by SIPL. As part of the Transaction, SIPL entered into a new licence agreement with Coretrack and Globe Drill in respect of these intellectual property rights (IP Licence)."
Note the term "GT series".
I agree with Wealthcrea8or - we are switching to operations now and have to get on with the job. Buddying up and hopefully forging a solid ongoing relationship with AWT seems very positive. We waited for the first contract to come. Hopefully we can in time fund our first GT5000 with operational profits and pick up geothermal work(and by then the country might have gotten its act together in such regard).
So - not so much the IP but the future obligation for Coretrack to keep building the rigs in a timely manner as contracted.
For mine - if / when the market improves then these prices will only ever have been dirt cheap...
Cheers
Elisby1
CKK Price at posting:
10.5¢ Sentiment: LT Buy Disclosure: Held
