Australia:

Petratherm to Reinvent Itself as a Potash Company after Lights Go Out for Geothermal (Adelaide Now)

The former geothermal energy explorer will buy East Exploration from listed company Potash West for tenements covering 450sq/km in Germany where there has been historical potash mining.

It is the end of the geothermal energy dream for Petratherm, which was one of the leading lights in the sector. The company sunk one 4km well at its Paralana project in the northern Flinders Ranges in 2009 but was unable to raise sufficient funds to drill a second well.

Board member Simon O’Loughlin said the company had some minor rehabilitation to do on the Paralana project which would now be shelved.

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