energy breakthrough, page-4

Regardless of what they announce about the prospects in Australia and chile the share price is way undervalued compared to the other listed companies.The market cap of Hrl isnt far off from what its holding in cash and Grant money.

You have GHT Geothermal resources which didnt recieve any grant money and has almost no cash left in the bank still valued higher than HRL.

Panax is exploring the same type of geothermal as HRL and is valued at almost 3 times that of Hrl after taking into affect Panax cash position and remaining grant money. Both companies have yet to drill a hole.

Sure Hrl is going to raise cash sometime in 2010 just like most if not all the other listed Geothermal companies. I suspect Hrl is more likely to attract a partner because its geothermal prospect is less risky than those of GDY geodynamics.