butcherboy I agree, I would much prefer to hold HSA acreage than...

butcherboy I agree, I would much prefer to hold HSA acreage than EGS. Dont get me wrong Panax has huge potential. I was only just trying to point out that we should not get excited by drilling progress thus far as it was always going to be much smoother than Petratherm.

Guild you are right market cap does not reflect Pax's potential but if you study the majority of the geothermal companies they are all undervalued to potential. Take greenearth energy which I dont hold but also is a HSA play. They have 3.5mil cash, plus 7mil to drill, which is far less than their market cap of 9mil. Should they have success they have another 25mil in grants towards a demo plant.

Anyway I was never even arguing against PAX being a good investment or not, was just pointing out we should not compare drilling with PTR and and call it Aus best geothermal company purely because it is HSA.