I agree Hot Rock is undervalued and thats why I bought some but in the interest of shareholders you would want the share price to be as high as possible come capital raising so we get minimal dilution.
Its interesting that no JV partnerships have been struck in Australia yet for the lower risk HSA plays when plenty of deals are being done in EGS. Think geothermal will continue to be considered high risk here regardless until there can be commercial success.
Your are spot on with your comparisons. HRL holds larger land in the same basin as PAX yet sells at a fraction. The only other company I think is more undervalued is possibly GER which has potentially 32mil worth of grants yet a market cap of 11mil. However I like HRL's projects better
HRL Price at posting:
12.5¢ Sentiment: Hold Disclosure: Held
