top 20 as at 30 may, page-6

agreed cj. selling doesn't make sense. A split does make sense.

I can't help being hopefull for Fiale.

Quarterly report talked about interest in funding the company as a whole, including:

'expressed interest in being mandated for the debt syndication of the balance of the Copahue’s
complete financing requirements, and the funding requirements of Djibouti and Kenya combined'

With significant backers we could still be in the game...

I was reading a blog about a distinction being made on geothermal projects between costs of exploration, and the harnessing of proved resources and how (like EHR) the later is far less risky.

An interesting point was made too, that with off-the-shelf power plants if the resource doesn't last you simply move the power plant to another location. You don't lose the money spent on drilling wells. This is one of the reasons I'm keen on Djibouti, the resource is fairly well determined. I like that Djibouti is not under 2m of snow. I have to say though Djibouti is a wild part of the world. Not really the secure investment country EHR has portrayed.

At the very least I know a bit more about the world; I'd never heard of Djibouti six months ago, now I'd qualify to run tours of the place. haha