Petratherm get @x Mkt Cap Govt. Grant
 

Renewables get $A235M from government

Friday, 6 November 2009

THE federal government has handed out $A235 million to four commercial-scale renewable energy projects, including two hot rocks projects, from its Renewable Energy Demonstration Program.

Geodynamics received $90 million for its plan to develop a 25-megawatt geothermal power plant in the Cooper Basin in late 2013 while fellow geothermal player Petratherm received $62.762 million for its 30MW Paralana project next to the Beverley uranium mine in South Australia.

Interesting Petratherm's cash position (~$78M) is now so high relative to their market cap ($42m). I don't think the market has fully comprehended what has just happened.

Full story at www. miningnews.net