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BKT - Black Rock Mining

Discussion in 'Stocks 0-H' started by itchy, Dec 20, 2006.

  1. itchy

    itchy

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    this is a gem waiting to evolve. 3.7m underwritten by the WORLD BANK for their hungary geothermal project! that means no bloody downside, and for the world bank to cover their asses must have potential! this is the first deal ever of its kind to be underwritten by the world bank!
    also some intereting 5c non-renuncable for previous s/h with rights also tradable! this little baby will go somewhere, already up 7c in a few days to 13c and an very experienced management, coupled with projects with excellent proximity to the mkt aka olympic dam.

    and PEM own 16%.
     
  2. quarky

    quarky

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    Re: GRK - Green Rock Energy

    thinking of getting into this.
    it brokeout with 25% jump yesterday.

    might go higher during this week.

    interesting...
     
  3. motion

    motion

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    Re: GRK - Green Rock Energy

    Yep this one came up on my scan this morning... Looks good on the graph as well... Just doing my home work on this now... But looks like a good buy and maybe a break out very soon...
     
  4. quarky

    quarky

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    Re: GRK - Green Rock Energy

    Actually bought some at $0.098

    Will wait to see how it performs, if/when the ASX goes up.

    Energy stocks have this habit of breaking out but not sustaining it, because drilling is sometimes a hit/miss affair.
     
  5. Spaghetti

    Spaghetti

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    Re: GRK - Green Rock Energy

    I think hot rocks are so very promising and so very very logical. And what a massive resrve we have!

    My take is that the industry needs a lot of government funding and commitment to get it sailing. The share price, I think, suffered after Howard did not make any green energy announcements in the budget. However gov't still has a lot of $$ in the coffers and will make an announcement re funding in a few weeks regarding energy etc etc after an industry report is lodged. Whether has anything to do at all with hot rocks we will need to wait and see.

    Meanwhile the SA gov't is keen to exploit this natural resource but to what degree I am not sure. I do not think this type of exploration and developement should be funded entirely by the private investor. The government needs to inject big money into it. Perhaps Rudd will be hot rock friendlier than Howard. If it takes off it can supply Australia energy needs for 800 years! And clean and green to boot.
     
  6. YChromozome

    YChromozome

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    Re: GRK - Green Rock Energy

    I've been a shareholder of Geodynamic's since late 2002 when they listed and have been to most, if not all of the meetings. The former director of Geodynamic's, Bertus de Graf has commented before that Mike Rann is heavily behind the HFR industry and has offered to do anything for them, except inject any money ;). Likewise Minister for Mineral Resources Development, Paul Holloway has been talking up the industry since 2003. He opened the 2003 SA conference with comments such as :

    “The ability of industry to innovate and promote new technology is exemplified by the experimental Hot Dry Rocks Project. I am quietly confident that this project, dependent on high heat flow of basement rocks in the Moomba - Gidgealpa region, will be the beginning of new era of clean green energy production for South Australia. This project has the potential to provide a significant proportion of South Australia’s energy requirements. I await the results from the first geothermal well, the 4.5 km hole Habanero 1, with great interest."

    And was back in 2004 with comments including :

    "It is also worth noting that South Australia is now a hotbed of exploration for geothermal energy – with investment coming from Geodynamics, Minotaur, Scopenergy, Perilya and Green Rock Energy. There opens some chance for an emissions free energy future - not just for the State - but for the nation. Some of you may have noticed the recent announcement by Queensland’s Premier Peter Beattie of Geo-thermal licences. I’m sorry Pete, but you’re three years behind us. Not only that, Geodynamics already have a well near Inniminka that I am told is coming along nicely."

    but again, no money . . .

    Certainly, it is unfair if the coal industry or the coal geosequestration clan gets lots of money, but not the HDR industry. I think one of the arguments used by the current government is the technology is premature, but isn't geosequestration too?

    However I don't see why the industry needs any funding. If the economics prove as good as the modeling then many of these companies (GDY, PTR, GRK, GHT, EDE, TEY) will have some nice bankable resources. With that, they should be able to fund developments from debt. Plus, there appears to be no shortage of quality backers for the industry. HDR pioneer, Geodynamics is backed by Origin Energy and Woodside.

    The geosequestration industry, on the other hand, may not be economically viable, and hence will require government assistance to get it off the ground.
     
  7. Spaghetti

    Spaghetti

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    Re: GRK - Green Rock Energy

    Thanks YC,

    Read an article in the NY times not long ago that said there is no such thing as clean coal technology.:confused:

    I really do want to see a visionary in government support exploitation for this resource though with both words and money!! .Not so much from a shareholder point of view but as an Australian citizen. I do think it is in the national interest. Perhaps an injection of funds from government could fast track this resource into production rather than rely on nuclear power.

    The big argument (given I am still fairly ignorant on details) seems to be that the major geothermal resources are not close to the power grid. So instead we build nuclear power plants in people's backyards?

    I hope either way though this industry takes off. So logical to me, maybe I am missing a point or two but no-one seems to argue differently.

    Thanks for your input, trying to learn as much as I can on this industry.
     
  8. Spaghetti

    Spaghetti

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    Re: GRK - Green Rock Energy

    On Green Rock Energy itself. I have no idea on how to compare one geothermal stock from another and chose GRK purely because it says it is close to the power grid and the s/p is low.

    In the short term would resource size really matter given it will be so long lasting or is power grid accessability a more important plus at this stage?

    Read the industry want some form of JORC of it's own so that investors can make better decisions but in the meantime what would be the most important criteria?

    Any input appreciated.
     
  9. quarky

    quarky

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    Re: GRK - Green Rock Energy

    well, the shares opened @ 0.087 today
    lower than the previous days.
    but the market has slipped this morning.

    yeah, just need to see if the govt. announces any funding for the energy sector
     
  10. Spaghetti

    Spaghetti

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    Re: GRK - Green Rock Energy

    Up a bit today. I was reading about England considering using Hot Rock energy from Iceland. Interesting.
     
  11. yogi-in-oz

    yogi-in-oz

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    Re: GRK - Green Rock Energy

    :)

    Hi folks,

    GRK .... CEO was on the local current affairs program last Friday
    evening ... you will probably find a transcript of the Stateline
    show, on th ABC's website.

    happy days

    paul

    :)

    =====
     
  12. Spaghetti

    Spaghetti

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    Re: GRK - Green Rock Energy

    Geothermal stocks have done well today, probably in response to Rudd's committment to the industry.

    I believe Green Rock will have some results in September, until then it may all be dependant on government support to clean energy.
     
  13. Spaghetti

    Spaghetti

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    Re: GRK - Green Rock Energy

    Turned up to be a great day for GRK, up 28%. I can't be sure but it seems only due to Labor Party policies. Hope it has another great day tomorrow but this one is difficult to assess. Few put buy orders in. It would be real nice if Howard tries to outdo Rudd on clean energy:)
     
  14. quarky

    quarky

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    Re: GRK - Green Rock Energy

    GRK doing well today.

    i bought mine at 0.098 about 3 weeks ago.
    sold it today at 0.125
    now, it's already at 0.14
    damn!
    :banghead:

    must be labor's "hot rocks" policy.
     
  15. Taurisk

    Taurisk

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    Re: GRK - Green Rock Energy

    Hi guys
    I just heard a repeat interview of Tim Flannery (Margaret Throsby, ABC) wherein Tim Flannery states that South Australia has enough Hot Rock energy to supply all of Australia for 100 years. He then made a disclaimer saying he held shares in a Hot Rock Co., but didn't say which ones.
    Apparently it's fairly easy to harvest the heat.

    Any ideas which co. has a big deposit/area in South Australia? GDY?

    Cheers

    Taurisk
     
  16. Taurisk

    Taurisk

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    Re: GRK - Green Rock Energy

    Hi - no need to answer, I have just re-read the whole thread.
    Great info, guys and gals

    Cheers again
    Taurisk
     
  17. Lucky_Country

    Lucky_Country Formerly known as ijh

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    Re: GRK - Green Rock Energy

    TEY has the best position in SA.
    Close too Adelaide and a real large tennament area.
    Will also rival grk for power too olympic dam
     
  18. quarky

    quarky

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    Re: GRK - Green Rock Energy

    thanks!
    maybe i'll look at TEY from today.

    keep an :cautious: eye on it.

    but annoyed because i sold GRK at 0.125 and not 0.14 (even 0.015 difference for me was over $3500!)
     
  19. Spaghetti

    Spaghetti

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    Re: GRK - Green Rock Energy

    At last, never thought it would break 10.5. On a day I couldn't trade though. Is good value compared to the others I think but to what extent hard to measure.

    TYE I thought was going to be in the Victorian electrical supply, correct me if I am wrong.

    I hope this industry really takes off, such a logical way to confront so may issues including water shortage and green house emmisisons.

    Go all Hot Rock Stock!
     
  20. Lucky_Country

    Lucky_Country Formerly known as ijh

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    Re: GRK - Green Rock Energy

    TEY has got the prime tennaments in SA and VIC.
    Torrens Energy gets its name from Torrens Lkae in SA.
    TEY is the leader in geothermal with regards too tennament holdings but GRK can also do well
     
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