pivot point, page-59

I agree with you Snouty and don't think that HRL will raise money in the near future as the company simply doesn't need it at the moment. The initial payment from EDC will be enough for HRL to progress at least 4 of its other 100% owned projects in Peru and Chile to the point where it can attract EDC or other potential partners to farm in to them. In fact, land access is already being organised by HRL for some of their projects as we speak and field work and MT surveys will start soon. Once the MT surveys are shot and analysed, HRL will most likely be in a position to announce new resources on some (or all!) of these projects and the beauty of it is that each project can be advanced relatively cheaply as I think an MT survey only costs $300-$400K to shoot. The real expensive part of geothermal is the drilling and I don't believe HRL will be funding any drilling this year, either in Australia or South America, so won't need to raise money in the near term. Hopefully, HRL can prove up more significant new resources and add value for shareholders by farming out to the likes of EDC or Origin again.
While Koroit is an important project for HRL, I don't think HRL will be spending any significant funds on it in future but instead will wait to see if the government can come up with an innovative way of kickstarting the sector in Australia through more useful funding or incentives than those it has offered before.