Courier Mail
Wednesday 16/7/2008 Page: 40
ALTERNATIVE energy hopeful GeoDynamics will reap an extra $9.6 million for a project after meeting a milestone in a "hot rock" venture. It comes after the GeoDynamics project in South Australia has faced many delays over the years in attempts to tap power from underground hot rocks. Brisbane-based GeoDynamics yesterday announced meeting the milestone that triggers an extra funding commitment from joint venture partner Origin Energy. The milestone was met when GeoDynamics finished drilling a third hole and conducting a test on time and within budget. It brings the total commitment from Origin Energy to $150 million. GeoDynamics shares yesterday closed up 3G at $1.55.
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