The following is based on my amateur research skills. DYOR to check the facts yourself and before making any financial decisions.
Scratching my head trying to chose between the two:
Market Cap -------------- GER 67 M shares 78M Options 145M shares fully diluted Market Cap=$36M (assuming fully diluted at 24.5c per share)
HRL 93M shares 10M options 103M shares Fully diluted Market Cap=$14M (assuming fully diluted at $13c per share)
STAGE 1- Proof of concept --------------------------- GER Estimated Cost $29.8M Cash in bank $5M GDP Grant $7M Stage 1 ETIS funding $5M Funding shortfall = $12.8M
HRL Estimated Cost $18M Cash in bank $3M GDP Grant $7M Funding Shortfall = $8M
HRL Estimated cost for 10MWe plant = upto $70M Government funding = Nil Dunding Shortfall = 70M
Stage 3 - Expansion ------------------------------- GER 17000 PJ inferred resource (for HSA. The rest is Hot Dry Rocks)
HRL 67000 PJ inferred/indicated resource for HSA
My conclusions - GER got the lions share of government funding but still needs more money (than HRL) for proof of concept - HRL share price will likely spike when the market opens but a small holding will get your foot in for a discounted SPP on attractive terms - At current prices HRL seems the better play - GER has the advantage in Stage 2 due to the ETIS funding but long term the HSA resource seems small compared to HRL
Sentiment: hold for SPP
HRL Price at posting:
12.0¢ Sentiment: Hold Disclosure: Held