Mark Elliott and Peter Barnett have been undertaking meetings and presentations at various broking houses, fund managers and high net worth individuals in Melbourne and Sydney until today. They will be in Brisbane tomorrow and Perth next week. I understand that they have had a fantastic reception and they are extremely pleased with how things have gone so far. There are a number of overseas opportunities as I understand which will be developed regarding gaining further market/investor support over the coming month. I see today's action as very positive with a lot of the sellers flushed out. If the momentum continues (and I believe there is every opportunity that this will be the case) then we could see some magic happen. Interesting to note that Peter Barnett has been involved in 40% of all geo thermal developments undertaken world wide - this is remarkable and very impressive. Experienced management with industry credibility is everything in this game. This demonstrates the strength of the management and the high regard they are given by majors like EDC and fund managers like Ward Ferry. I have no doubt there are some major fund management players and brokers that have taken notice of Ward Ferry coming on board and would see this as an excellent signal that Hot Rock has enormous potential. These facts will open the doors to many opportunities which will translate to increased share price.
HRL Price at posting:
6.1¢ Sentiment: Buy Disclosure: Held
