gt 3000, page-8

Hi Debono,

Yep there is Geothermal drilling in oZ but its based upon EGS as you know.
No power production in oz from geothermal as i understand it and no power production from an EGS power plant anywhere in the world yet!
So the single drill we have would be used in oz to drill a hoped for EGS well...good luck...wasted PR im my opinion when you have literally 1000's of real mega watts of power being already produced in nearby countries.
Exploration holes on geothermal sites dont always come up trumps even if the sites look fantastic from a geological standpoint.
The first Geothermal job should be imo in a country where the best pr opportunity is afforded for our sole drill i.e phils or indo...The companies already got a deal with a phils group gagging to get going on real steam field concessions...which will expire in a about a year and go back to the polies to be handed out again..more delays!
These phils steam fields are deemed by the geo 'very high' probability of success..its about as good as you get when exploring expensive geo holes.

re the board...

1. No board should be allowed to exist as all non execs..i.e the shareholders have a company being run by part timers.

2. No board should be allowed to exist unless the directors have at least 10% of paid up stock.

3. Having a representative on the baord reporting back to major shareholders makes a mockery of corporate governance.

4. Most boards use their information privilege not to level the trading playing field but to hide the facts from the shareholders including facts relating to incompetence!

So all for change and the right action this time..if we have a this time?