11 Oct 2011other● Neutral
Notice of a Boardroom Radio broadcast with the managing director. No new information.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
10 Oct 2011investor presentation● Neutral
Corporate update: Copahue concession contract framework agreed, with formal signing now expected in November. The company expects further offtake deals, debt support letters and a debt syndication mandate soon. Djibouti JV talks continue with no certain outcome; Fiale resource review due February 2012.
6 Oct 2011other● Neutral
Notice of a Boardroom Radio broadcast on the Loma Negra letter of intent. No new information.
5 Oct 2011material agreement▲ GoodMajor
Letter of intent and heads of agreement signed with cement maker Loma Negra for 10MW of power from an Argentine geothermal project. It is non-binding until conditions are met and a binding power purchase agreement follows. First offtake step for Copahue financing.
29 July 2011other● Neutral
Notice of a Boardroom Radio broadcast with the managing director on the concept study. No new information.
28 July 2011other▲ GoodMajor
Draft SKM concept study for Copahue stage 1 received. Two production wells could deliver 15MWe net, using an air-cooled binary plant and the existing 33kV line. Costs are indicated at $3m-$6m per MWe; the next-stage parameters are under internal review.
27 July 2011quarterly activities report● Neutral
June quarter: Copahue resource upgrade (about 150%), EIA submitted, SKM concept study for a 15MWe plant under way. A 'pre-contract' sets final concession terms, with signing hoped for the September quarter. Djibouti delayed by post-election reshuffle; operating outflow $539k.
11 July 2011admin correction● Neutral
Re-release of the 7 July EIA announcement to correct the first paragraph: the assessment was done by Estudios y Servicios Ambientales, not SKM. Otherwise unchanged.
11 July 2011other● Neutral
Company welcomes the Federal Government's carbon tax announcement as a benefit to clean energy. It repeats that the Copahue concept study final report is expected within two weeks. No new project results.
7 July 2011regulatory community update▲ Good
Stage 1 environmental impact assessment for Copahue has been completed and submitted to Argentine authorities. This completes the study flagged in April. The SKM concept study final report is expected in 2-3 weeks.
14 June 2011half year report● Neutral
Half-year report to 31 March 2011 for Earth Heat. The visible text is only the contents, director details and board changes (three directors resigned 11 May 2011); financial figures are truncated and not stated here.
23 May 2011other● Neutral
Notice of a Boardroom Radio broadcast discussing the concept study. No new information in the notice.
20 May 2011other▲ GoodMajor
Board approved a faster plan: a first-stage 15MW Copahue plant, rather than the 30MW stage previously discussed. SKM began a two-phase concept and feasibility study; the first phase is due within two months. Three or four new wells would be needed. Funding for development is not yet secured.
19 May 2011other● Neutral
Notice of a Boardroom Radio broadcast of a company update by the managing director. No new information in the notice.
18 May 2011resource reserve update▲ GoodMajor
SKM's independent review of Copahue gives Canadian-code resources of 19MWe measured, 55MWe inferred in the vapour zone and 190MWe inferred in the deep liquid zone. The company says this is over 150% above historical estimates.
16 May 2011security holder rights change● Neutral
20,000,000 unquoted options issued under an employment agreement lapsed under its terms. Unquoted options remaining: 12,658,228 at 7.9c expiring February 2016, plus 22,000,000 with various terms. Quoted securities unchanged at 566,218,676.
12 May 2011director officer appointment● NeutralMajor
Directors David Sutton, Alex Rose-Innes and Stephen Pearce resigned to simplify the board ahead of a North American listing. They agreed to take unpaid director's fees in shares, at a price set by the board from a 5-day VWAP within six months, subject to consents.
27 Apr 2011other● Neutral
Notice of a Boardroom Radio broadcast with the managing director on progress in Argentina. No new information in the notice.
21 Apr 2011joint venture update● Neutral
Progress update: SKM resource assessment is well advanced, engineering studies are due soon and an environmental study has begun at Copahue. JV talks continue for both Copahue and Djibouti, with Djibouti expected to take longer. TSXV listing is not assured.
21 Apr 2011quarterly activities report● Neutral
March quarter: cash was $1,390,241 after the first $2m Socius tranche. Administration spend was $440,000 against $225,000 forecast. Copahue studies progressed; Djibouti JV talks continue; Baxter royalty and suspended SA licences unchanged. 569.5m shares on issue.
14 Apr 2011other● Neutral
New York firm RB Milestone started research coverage of the company. It received fees for including the company on its network and for investor relations services, though it says the report itself was not paid for by Earth Heat.
14 Apr 2011investor presentation● Neutral
Updated investor presentation repeating the Copahue case. Share price 5.1c, 569m shares, $28.8m market cap, no debt. Adds an economic snapshot; Copahue funding still under discussion. Largely repeats earlier material.
5 Apr 2011listing compliance notice▲ GoodMajor
Company says arrangements are well in hand for a second listing on the TSX Venture Exchange, as foreshadowed in December. Documents are being prepared; no formal timetable, but completion is expected within about three months.
16 Mar 2011material agreement▲ Good
Memorandum of understanding signed with Drake & Scull Water and Power (UAE) to jointly explore, bid for and secure geothermal projects in the Middle East and Africa. It is a non-binding framework; no specific projects, funding or amounts stated.
16 Mar 2011other● Neutral
Drake & Scull's own press release on the same MOU with Earth Heat, covering joint geothermal opportunities in the Middle East and Africa. It repeats the company's announcement and adds background on Drake & Scull.
11 Mar 2011other● Neutral
Company announces North American investor briefings arranged through Socius and ABID, the New York firm that produced the earlier valuation report under a fee agreement with the company. It clarifies the paid relationship. No new project news.
8 Mar 2011contract award▲ Good
Engineering consultant SKM was engaged for independent resource certification and assessment at Copahue, ahead of the plant concept study. The company says certification matters for attracting debt funding. No cost stated.
23 Feb 2011investor presentation● Neutral
Managing director's AGM presentation, mostly repeating the investor deck: share price 6.8c, 569m shares, $38m market cap. It recaps the past year, including the $5m Socius funding. Copahue funding is still under discussion.
22 Feb 2011investor presentation● Neutral
Investor presentation repeating the Copahue story: Copahue farm-in funding still under discussion, 569m shares, 8.1c price, $44.5m market cap. It lists cash of $2,000,000 and no debt. Largely repeats earlier material.
15 Feb 2011director officer appointment▲ Good
Three senior managers were appointed in Argentina to progress the Copahue project: a regional manager, a project development manager and a regional finance manager. This builds the local team for the geothermal project the company can earn up to 82.5% of.