Ann: Corporate and Project Update , page-35

Bargain (several posts above)

$28 mill will buy 4 full-size production/injection wells - let's say 2 production and 2 injection. Let's say they get an average of 5 MW per production well - so they can build a 10 MW power station, which will cost another $20-30 mill. I just can't see how PAX can raise enough project finance and equity to get any of their projects going. IMO their published capex and cost per MW estimates are wildly optimistic.

I'm sorry I can't offer more enthusiasm for this one, or EHR. Like Graham_1954 I believe in geothermal, and want to help by putting my cash into an Australian company, but I also believe in expert management and I don't see it here.