the next woodside of the geothermals, page-7

Sabretoothed, I agree with you. They are gearing up to exploit a dominant position in the sector.

I don't have time to post more fully until later this afternoon, possibly tomorrow morning, but have spoken to the company regarding this transaction and it sounds like we are experiencing a major shift towards accelerated commercial exploitation of the projects held by PAX - and not just the Australian ones.

The private placements are to be made over the course of the next few weeks.

LC is now de-risked to the point where they seem undeniably likely to provide the first commercial load of geothermal power into the NEM.

They will have my full support and votes for the merger.

Peter, you raised a very good point, and it is one that management seem very aware of:

"The cost of Osiris is probably around the same as a failed well."

Look forward to discussing it further with you. Though it may not seem it, this merger is as much about the international projects as it is about LC.

Cheers

Tawny