limestone coast geothermal project

Hello Panax People and Happy New Year,

Just went to revisit the panax website and thought this would be appropriate for this month.

http://www.panaxgeothermal.com.au/documents/00007_Limestone%20Coast%20Poster_FINAL.pdf

Limestone Coast Geothermal Project
The time is right

Commercialisation Plan

Stage 1 Exploration, studies and target delineation Completed

Stage 2 Proof of Concept
Deep drilling, reservoir test, followed by geothermal reserves Start late 2008

*Running behind, it is now 2010!

Stage 3 Feasibility 50 MWe geothermal power station 2009

*Running Behind

Stage 4 Development of 50 MWe geothermal power station,
Modular approach 2011

Stage 5 Expansion to 250 MWe

So exciting year ahead, expecting resolutions for some 2009 targets, Joint Venture Partner, World Bank Funds, Couple MOU's, etc.

As far as share price, i am a little concerned about what WCP's intentions are, once we start to climb. They have changed management and might have different visions from previous management. Which could in fact bring some quick great trades. I would like more clarity on this matter, as WCP are a major holder.

Let's see what happens this month, Panax ran into some head wind towards the end of last year, time to adjust the sails and move on.

earth