It hasn't been announced exactly when SKM's report will be received except that it was expected around mid August. PAX management could well have it already and may now be contemplating which move is best on Penola. They would want to cost the options before making any announcements. For shareholders nothing ever goes fast enough and we are very quick to ask, "What are you going to do? How much will that cost? When will it be finished?" The shareholder letter of 10 August states, "The current quarter will be used to obtain a better understanding of the well testing results and of the condition of the open hole section of SAL-1." Therefore I'm not holding my breath for an immediate update. Note that the same letter also has the confidence builder statement, "The quality of the reservoir rocks should be sufficient to meet the requirements for the development of a geothermal power plant."
Meanwhile management has the pot boiling on the other projects as well.
Juke
PAX Price at posting:
4.6¢ Sentiment: Buy Disclosure: Held
