I came across this article in the Criterion section of The...

I came across this article in the Criterion section of The Australian written by Tim Boreham a couple of weeks ago which has been a good call so far!

Hot Rock (HRL) 5.4c

TURNING to the spurned geothermal sector, Hot Rock has done well to seal a deal, headline value of "up to" $200 million, with the world's biggest geo-energy producer. Energy Development Corporation (EDC) of the Philippines will fund drilling on four of Hot Rock's 20 projects - two each in Chile and Peru's Rim of Fire territory - to the tune of $US12m each. EDC acquires 70 per cent of each project and then Hot Rock chips in only if the projects are proved commercial. "It puts a line underneath the company," Hot Rock executive chair Mark Elliott says. "The funding risk has been removed."

An overlooked distinction is that Hot Rock's ventures are based on conventional geothermal (ie steam from volcanoes) rather than "hot rocks", which is unproved and involves the contentious hydraulic fracturing method. The lack of commercial hot-rock success has fazed investors as well as the federal government, which has bestowed generous grants for little return. Hot Rock shares were unchanged yesterday. Spec buy.

When googling HRL I noticed lots of articles were also written about the HRL/EDC joint venture on websites from all over the world, especially in the Phillippines and Chile. I wonder how many of HRLs new shareholders are from overseas? It seems to be a story that might appeal to many and that might explain all the strong interest in the stock