Geodynamics continues diversification efforts and Pacific geothermal projects
The Australian company has recently posted their quarterly report for the end of 2014, stating that the company has made great efforts in order to reduce operating costs while at the same time diversifying their portfolio of activities, going beyond geothermal.
In the aforementioned report the company said that it has been working hard “to reduce operating costs and expenses over the past 12 months have seen the Company end 2014 with an extremely strong cash position of $33 million cash in bank.”
Regarding new activities, the company is betting on “Clean Energy Supply and Services, Efficiency and Storage and Cleantech Industrial Services. (They) are currently reviewing a number of promising opportunities and hope to be able to conclude one or more investments in the next 3-6 months.”
Geodynamics os also expanding and diversifying operations and working with local government departments and regulators in Vanuatu and Solomon Islands.
To read the full report, please follow the link below.
Source: Press Release by Geodynamics