Ann: Share Purchase Plan , page-7

I never received a call. I should probably just ring them!

Maybe it was a Friday afternoon decision (I don't really know what came over me), but a few years ago I bought $1000 of GRK. It still doesn't make sense to me why I bought this token holding - I never bought any more GRK after this.

Before I even bought the shares I had already concluded that GRK had no clear orientation to establish an income generating business - let alone do this in a defined and committed timeframe.

Instead, I had decided that GRK were just a bunch of mineral exploration guys that changed their tune and decided to call themselves a geothermal company. Hardly even fledgling research, design, procurement or construction experience - just exploration.

A quick surf of their website inferred wishful definitions for words like 'project' and 'asset'. The way I saw it, calling an empty geothermal tenement an asset was almost akin to calling a web domain name an asset.

So I bought the $1000 GRK anyway(!). I think I had this wild idea that GDY would be successful by now and somehow lift competition and performance across the whole industry including GRK.

And now after a few years I still see no obvious business model. No talk of dollars per MWh and no substantial project delivery time lines. No profit break even dates. The cash that GRK did have back then seems to have been spent. The Perth Basin might be a good demo plant, but still no mention of whether the technology can be financially competitive.

What I do see however, is a bunch of shameless directors putting their hand out to ask for money without saying how they're going to make money. More money for exploration, tenements, director salaries, executive salaries, management salaries etc. Money for the tiny little project in the Perth Basin.

But still no convincing business plan.

My share purchase plan papers were in the bin within seconds of receiving.