Highlights include:
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at the posters for the community consultation (Courtesy Geodynamics) |
- The 1 MWe Habanero Pilot Plant Trial concluded 7 October 2013 with no safety or environmental incidents throughout the campaign. The Field Development Plan incorporating data from the trial was also completed, identifying future development options for this resource.
- Exploration drilling planning for the Savo Island Geothermal Power Project included procurement of long lead items and materials and the Company also took possession of a track mounted drilling rig for the campaign.
- Preparation of the comprehensive Environmental and Social Impact Assessment continued. Initial findings of baseline studies undertaken as part of the assessment were presented to government ministries and the Savo Island community.
- Geodynamics continued its engagement with the Solomon Islands Electricity Authority to progress electricity supply and power purchase agreements.
- KUTh shareholder acceptances of Geodynamics’ Takeover Offer passed the 90% level. Post the quarter, Geodynamics successfully completed the compulsory acquisition of all outstanding shares to hold 100% of KUTh Energy Limited. The acquisition of KUTh aligns with Geodynamics’ strategy to develop a portfolio of high quality, small-medium scale, conventional (“volcanichosted”) geothermal projects initially targeting the Pacific Islands region, capable of providing nearer term revenues to shareholders.
