The shares in GDY have halved since this announcement makes me wonder what will happen with this renewable energy sector as a whole. In related commentary Mr Ward portrayed a bleak long-term outlook for any large-scale development of its estimated enhanced geothermal systems (EGS) resource at Innamincka.
He said current market conditions, including future demand growth and wholesale power prices led to the impairment.
"The large scale development of the Cooper Basin EGS geothermal resource will require significant capital investment for further exploration and appraisal of the wider Innamincka granite resource, the development of the proven resource at Habanero and extension of infrastructure to connect the resource to the National Electricity Market.
"Under the current market conditions this scale of expenditure is not economic and significant raysea
PTR Price at posting:
2.1¢ Sentiment: Hold Disclosure: Held
