Thank you for the prompt response, whoever deleted that previous...

Thank you for the prompt response, whoever deleted that previous post. The following version contains images from an alternate source in the public domain (http://www.doir.wa.gov.au/6065.aspx#6074).
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Well, with respect to their potential to successfully develop a commercial scale project, the company has the Spencer Gulf project and the WA applications.

The Olympic Dam resource is deep and relatively cool, making it difficult to access. The requisite number of production wells may be inhibitive, though the company seems determined to drill it out. As an investor, I believe they would find greater support in drilling a shallower, lower-risk target such as Spencer Gulf - devlop a revenue stream then increase risk from there.

Patchawarra is in the middle of nowhere, and would rely on piggybacking GDY's transmission line. If this line attains significant government funding, such a sharing arrangement will not be impossible, though the project really hangs on that outcome, and as such is only marginally attractive at the moment. Last time GRK thought to rely on GDY (desiring a time share agreement on the Lightning Rig) they and their investors were seriously burnt by the opportunity cost of sitting around inactive for so long.

I wouldn't say management are proactive - other companies in the sector, even listed recently(i.e PAX), have eclipsed their progress in recent months, securing strategic partners (TEY, PTR, GDY, PAX), rig access (PAX, GDY, PTR) and increasing accessible data though mergers and acquisitions (PAX).

GRK does have the strategic partner MOL, and through them have access to an exceptionally large database of over 5000 wells, though we are yet to see whether they can apply this data to the commercialisation of a project. Tariffs in Hungary are attractive (~90 Euro/MWh), and the JV partner has enormous drilling and project development experience.

Here are the WA GEPs on offer. Note that some are significantly better than others, with petroleum and mineral holes providing the equivalent of tens, even hundreds of millions of dollars of geological data.




They are stuck in their financial position. To acquire the rig the mentioned in their misleading "Gearing for Growth" announcement, they will require additional funding (the $7M grant, if awarded, is provided on a $1:$1 basis). Perhaps they will sell a stake in one of the projects and share costs, because tapping the market whilst the company in is this position is a recipe for a smackdown.

Spencer Gulf would be a great project to see a JV on, though the company insists they are entertaining potential JV partners for O.D.

MC is only $7M now, and it has tested the all-time supporting low set in March 07. It bounced and pulled right back up into the previous trading channel - it will be an interesting couple of weeks to see if it can stay up there.

cheers
tawnyport