Wow, this stock has been so quiet for so long and the issues highlighted by awg801 regarding the share price and option price relationship driving the stock to a 25c equilibrium has not stopped 25% of the options money coming in regardless of no premium!!!!
Some one knows something. Now we have seen three announcements in three days.
AGL are now fully funding the exploration of the Barossa project, they have also tickled up their 9.99% holding after being diluted by the issue of the new options, pretty quick to act on that I think...I guess if they are going to trigger the joint venture of Parachilna they had better get their 25c'ers before the price moves.
Triggering the joint venture i.e spending around $15mil on a companies project when that company is only capped at $15mil would surely have a hell of an effect on the share price and then getting a placement through at 25c then may be hard work.
TEY now has over $4mil in cash a $7mil Gov grant...Well funded.
In regards to awg801's coments about GDY and the grid, should AGL not drill Parachilna there would be other sources of finance for this project, remember it has been evaluated by Hot Dry Rocks the best independant analyst in Australia as the best undrilled geothermal project on the grid in the country, Origin or an international energy company would jump on this project if AGL dropped it.
My Point????
AGL will drill Parachilna, if they were not going to do that why would TEY have recieved the $7mil Gov Grant? it needs big funding!!!
Also, Why would AGL be tickling up their holding so quickly?
The big question is what value this should add to the market Cap of TEY, I believe the stock should trade at least 50c per share on the back of a commitment from AGL as AGL are not a drilling/exploration company they are a company that produces and sell power and they like to produce renewable power best so a commitment to this drilling takes this from an exploration story to an emerging producer.
Xerox
TEY Price at posting:
23.3¢ Sentiment: Buy Disclosure: Held
