geothermal in south america - major prospects, page-32

Waiting, waiting… not easy waiting for baby or EHR

But the news for EHR has been leaked, we have the money (sort of).

We have commitments for the total amount, with Torey judiciously waiting for in the money to be in the bank before making it official (remember the roll-back the last time). The total amount - nice. A question is how large was the discount and was it worth it?

There will be mixed feelings about selling shares so much lower than we personally paid for them, but there is a lot to be said for having cash in the bank. EHR gets a lot done for the money. Looking at the market, with all the geothermal companies, except GDY, starving for capital, we had to move and take what we can get. It is a shame that the CIFI didn’t bring in money quicker and the share price is so low. But that is the reality of the market, timing is never perfect. All said and done, I’m relieved to have the money and keep the momentum.

We are making sure and steady progress with Copahue. I will be pleased when, at last, people sense it is time to get on board. It is good to be with a company that is thinking big and winning.