Proactiveinvestors Australia

Panax Geothermal www.panaxgeothermal.com.au/

Panax Geothermal (ASX: PAX) has near term geothermal projects in Indonesia and is also pioneering conventional geothermal technology in Australia along with projects in India.

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Panax Geothermal still confident about Indonesian geothermal power deals

Thursday, December 20, 2012 by Bevis Yeo

Panax Geothermal still confident about Indonesian geothermal power deals

Panax Geothermal (ASX: PAX) remains confident that the Power Purchase Agreements for its Indonesian geothermal projects are progressing through the execution process within the Indonesian Government.

It noted there were no impediments or issues relating to the execution of the agreements and that progress was being followed up on a daily basis to ensure that it is completed as soon as possible.

Discussions with interested financiers – predominantly Asian, and a well known Asia-based equity fund in particular – is also progressing, with Panax expecting to make an announcement early in 2013.

Panax also expects to receive a A$300,000 research and development tax rebate in January 2013.

 

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