After reading the chairman's comments & MD's presenatation as delivered to the AGM in Sydney this morning for Kuth Energy Ltd (KEN) I have a "gut" feeling that the GT3000 may indeed be inline for it's first geothermal project.
This is what was said of the Tassie projects;
"Nevertheless Lemont and Fingal are “drill ready” and KUTh is prepared to consider partner development to pursue these targets whose attraction is enhanced by their location close to a major transmission grid.
•Investigating slim hole options •New rig configurations under review •Options for collaboration on next stage drilling •Access to Federal and State govt grants •Way forward in the short term will need to include a combination of: •Grant funds •Collaborative partnerships"
And Vanuatu;
"•Focus has been on: •Community consultation •Drill rig evaluation, well designs and contract docs •Slim hole drill •Well design •Rig contracting"
Whilst I reiterate this is merely a "gut feeling" I do know for certain that thorough due diligence has been conducted by KEN on the GT3000 including the changes necessary to migrate from mineral drilling to deeper energy drilling. (Note the comment re "New rig configurations under review").
Whilst it can be frustrating to see the company floundering around on the bargain table I don't see it being here for much longer. I have seen this very trading activity in the past (AVB) when it shot from sub 0.02 to 0.20 in a matter of days!
WC8
P.S Happy to have added to my position this morning.
CKK Price at posting:
7.6¢ Sentiment: Buy Disclosure: Held
