In April, EDC geophysicists and operators have been mobilized from Manila to Peru and local personnel have been hired to undertake the survey, planned to commence in early May. The new MT data will be processed and modeled and then it will be integrated with the results from the previous MT survey carried out in November and December 2012 along with geological and geochemical geoscientific field data to identify a geothermal reservoir and drill targets as may be determined by the MT results.
When I spoke to the company they reiterated this and cannot forsee EDC pulling out as they probably spent close to a millon already and are serious. For all we know they could have started already seen as they are already there
HRL Price at posting:
1.5¢ Sentiment: LT Buy Disclosure: Held
