Proactive Investors - Run By Investors For Investors

Minotaur Exploration increases stake in geothermal company, Petratherm


Minotaur Exploration (ASX Code:MEP) has advised that it has acquired 2,000,000 shares in Petratherm Ltd (ASX:PTR) and now holds 20,437,501 shares, or 32%. The acquisition was by the exercise of 2,000,000 options expiring on 24th March 2009 at 20 cents per option.

The Company held options over a further 3,000,000 shares and arranged for these shares to be taken by others, thus injecting a total of $1 million into Petratherm.

Petratherm is a geothermal exploration and development group, initiated within Minotaur between 2002 and 2004, listing on the ASX in 2004, with major interests located in South Australia and Spain. Within South Australia, the primary project is located at Paralana in the Flinders Ranges, where Beach Petroleum and TRUenergy are joint venture partners in an enhanced geothermal energy project. In Spain, a district heating project in the Madrid basin is at the feasibility stage.

The Company is pleased to continue its strong support of Petratherm.

View full MEP profile View Profile

Minotaur Exploration Ltd Timeline

Related Articles

This Nanocube Memory Ink targets the global multi-billion dollar printed electronics market
February 12 2019
It has an Internet of Things data ink along with Pilbara ground prospective for conglomerate gold.
Lindi Jumbo is in southeast Tanzania, 200 kilometres from Mtwara port
April 23 2019
This month's offtake and marketing agreements come after a 'derisking' update to its DFS.
Sandstone project map
January 25 2019
Alto is chaired by its largest shareholder, businessman and minerals chemist Terry Wheeler.

© Proactive Investors 2019

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