21 August 2009Green Rock Energy placement and new Collie Basin...

21 August 2009
Green Rock Energy placement and new Collie Basin permits with Worsley Alumina
Green Rock Energy is pleased to announce the raising of $1.43 million through the private placement of 26 million shares at 5.5c per share. The funds will be used to continue work underway on its existing geothermal projects including Green Rock Energy’s Perth Urban Geothermal Energy Project and to commence work on new Permits in the Perth and Collie Basins.
The Company is also pleased to announce that today it is accepting the offer of three geothermal exploration permits in the Collie Basin in Western Australia. These Permits cover all of the Collie Basin and the Worsley Alumina operations. The Permits will be held jointly by Green Rock Energy Ltd and Worsley Alumina Pty Ltd with Green Rock Energy being the operator of the Permits. Worsley Alumina Pty Ltd will hold its interest in the Permits for Worsley Alumina. Worsley Alumina is a joint venture operation between BHP Billiton, Japan Alumina Associates and Sojitz Alumina, incorporating a bauxite mine, an alumina refinery and port facilities. Worsley Alumina is one of the world's largest and most efficient alumina refineries. A substantial proportion of Perth’s electricity supply is generated from power stations in the Collie Basin.
Commenting on the Collie permits, Mr Adrian Larking, Managing Director of Green Rock Energy stated, “These new permits and the relationship with Worsley Alumina Pty Ltd are an important building block for the company. Together they provide Green Rock Energy with a good opportunity to expand the scope of the business in the Western Australian market.”
This takes to seven the number of geothermal exploration permits accepted by Green Rock Energy within Western Australia’s first geothermal acreage release in the Perth and Collie Basins.