Sign up Australia
Proactive Investors - Run By Investors For Investors

Panax Geothermal appoints Stephen Evans as chairman

Panax Geothermal appoints Stephen Evans as chairman

Panax Geothermal (ASX: PAX) has appointed director Stephen Evans as its new chairman replacing Greg Martyr who retired at the end of its Annual General Meeting Yesterday.

Evans is the managing director of Adelaide based accounting firm RJC Evans & Co and has more than 25 years experience in advising small, medium and large corporations in relation to tax, accounting, financial and business matters.

Panax also thanked Martyr for his contributions to the company since its formation and listing on the ASX in 2007.

The company is focused on finalising negotiations relating to the financing of its advanced portfolio of near-term geothermal development opportunities in Indonesia.

Panax and its local partner PT Bakrie Power, are poised to execute Power Purchase Agreements for the Sokoria and Dairi Prime geothermal projects in Flores and North Sumatra, both of which have planned initial electricity generation capacity of 30 megawatts each.

Finalisation of these power agreements will allow Panax to finalise project financing for the two projects.

Electricity production at Dairi Prima is scheduled to start by late 2013, coinciding with the expected start of lead and zinc production from PT Dairi Prima Minerals’ Dairi Prima lead/zinc underground mine in North Sumatra.

Electricity produced at Sokoria will be sold to PLN.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.



Register here to be notified of future PAX Company articles
View full PAX profile

Panax Geothermal Timeline

Related Articles

Big tidal wave
February 24 2017
That progress as a leading tidal power developer was underlined again today as broker Macquarie today issued a very bullish initiation note on the group.
Fuell cell
March 06 2017
"Delivery of the small-scale system's basic engineering in such a tight timeframe is further validation of the decision to collaborate with our strategic partner plantIng," said CEO Adam Bond.
Ceres' SteelCells
March 08 2017
Ceres’ unique SteelCell – initially developed by researchers at Imperial College - are the most cost effective, robust and energy efficient fuel cells being developed.

© Proactive Investors 2017

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use