RE: RE: RE: TSX fell 211 points?Agree with the general point that certification is key. I also believe certification is a layup with drilling already completed and injection tested.
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Disagree with some of fear-mongering details. Ram will not be out of cash in 3-4 weeks! They are not even planning to complete certification until mid- May (that's longer than 4 weeks). They had $30 million in cash at the end of 2010, they just closed a $50 million credit facility on March 2nd. They should have had roughly $40 million in cash and credit facilities at the beginning of this month, and they'll try to keep their burn rate around $10 million a month. So I think they are fine until late July.
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2 rigs is fine for now, it keeps the burn rate lower. Also geothermal is tricky, the method SKM and Geothermex seem to be pursuing is: drill a well, test and evaluate that well, then let this new knowledge guide you in drilling in the next well. Orita and SJT will be drilled carefully, one well at the time, so there's no need multiple rigs are each site. Once Geysers receives project financing they will add a 3rd rig to drill one production well there.