The article incorrectly states that the proof of concept has been invalidated. It has been "re-validated" as per ASX announcement.
I'm not sure if Hab 1/3 were going to be used for a commercial demonstration plant anyway given they were to be used with the pilot plant.
There are many holes to drill for a commercial plant. Losing two wells at this early stage is disappointing, not a setback for the big picture.
I don't know where they get the two year delay from? Perhap they mean that without the pilot plant, there will be a two year delay to the next power generating milestone.
Origin is keen to continue working towards the big picture. They are looking to get 1GW of geothermal power into their green energy portfolio.
RNE Price at posting:
83.0¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)