Georgina Energy PLC - onshore helium, hydrogen and hydrocarbon prospects company - Reports ‘unforeseen weather and revisions of the environmental impact report’ at an asset in Australia. These have ‘shifted our timeline’, Chief Executive Officer Anthony Hamilton says. An expansion of 50 square kilometres at EP513 Hussar means it must submit a revised environmental impact report to the Department of Energy, Mines, Industry Regulation & Safety of Western Australia, known as DEMIRS. ‘This expanded EIR requires an additional site visit, which remains dependent on safe access amid ongoing adverse weather conditions. The completion of the expanded EIR and subsequent submission of the permit application to DEMIRS is now expected to take approximately 60 days. Once the EIR and heritage report are filed with the DEMIRS the application will be considered complete,’ it adds.
CEO Hamilton says: ‘We are very pleased the Hussar opportunity is bigger than initially thought, and all within our existing asset area. However, while unforeseen weather and revisions of the environmental impact report have shifted our timeline, we remain systematically focused on unlocking the significant value potential of our assets. This temporary shift does not alter our long-term vision or strategy, and we remain confident in achieving our objectives at Hussar and Mt Winter.’
Current stock price: 6.8 pence per share, down 21% on Friday morning in London
12-month change: down 51%
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