Torrens Energy (TEY) listed yesterday with a $12 million market cap. Torrens only have tenenments, with no concrete drilling schedule. GHT began drilling earlier this month using rigs on loan from their parent company, HAV. Their drilling will produce rock cores, allowing the company to determine how effective the overlying sediments are at insulating the hot granites. At the end of this drilling, GHT will not only have accurate temperature readings, but will know how insulated the rocks are, before TEY have sunk their first hole. So why is GHT listed at an $8 million market cap? Maybe people think they get more leverage with TEY, because of the lower share price??? Of course, it doesn't work like this, as your one, ten or hundred thousand will buy you a larger stake in an 8mil company than a 12mil..... So for the speculative value you get, it seems GHT is a better bet, with a shorter time to first results, and a smaller market cap.
GHT Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
