ANNUAL REPORT 2016
Aug 25th 2016
The Company is focused on its Western Australian energy projects and on identifying new opportunities in energy and across all other sectors to add shareholder value.
ANNUAL REPORT 2015
Aug 31st 2015
During the year the company acquired and entered into agreements to acquire prospective gas rich exploration acreage in the Perth Basin totalling approximately 344,000 acres (1,397 square kilometres).
ANNUAL REPORT 2014
Aug 27th 2014
The Company has approvals to construct the proposed Centauri-1, gas-fired power station including power generation licensing, environmental approvals, planning and zoning, as well as State Government approvals. The Company is now searching for a firm energy off-take agreement and funding to begin construction.
The Company is focused on securing funding to develop its Sargon Coal and Power Station projects and on identifying new opportunities in a variety of sectors to add shareholder value.
ANNUAL REPORT 2013
Aug 28th 2013
The Company is focused on securing funding to develop its Sargon Coal and Power Station and on identifying new opportunities in the resources and energy sector.
ANNUAL REPORT 2012
Aug 22nd 2012
The Company has undergone a significant transition in the current year with the concurrent recapitalisation and restructuring of the board at the end of 2011.
Since this time, the new Board has been successful in significantly reducing the cash expenditure of the Company whilst continuing to develop its current projects and investigating new opportunities in the energy and resources sector in order to increase shareholder value.
The Directors have been diligently investigating potential sources of funding in order to realise value from the Company's Sargon underground coal gasification ("UCG") and Centauri-1 Power Station projects, including discussions with international investors. The Directors are hopeful of reaching a satisfactory agreement which will enable the Company to reap the benefits from the significant investment into its projects over the past years.
ANNUAL REPORT 2011
Oct 25th 2011
The Company continues to face a number of challenges in the Mid West which has continued to cause many companies to pause their investment decisions in this region.
The Company continues to focus on the power generation and Under Coal Gasification ("UCG") energy assets together with the review of new opportunities.
ANNUAL REPORT 2010
Oct 25th 2010
The Centauri 1 Power Station is poised to be the only new energy generation capability in the Mid West. Once the UCG pilot plant and resultant delivery of Syngas is available, providing power to the Mid West with this technology is extremely economic and a very environmentally sustainable alternative available to the Government and people of Western Australia.
Your Company's coal assets were deemed 'a significant resource', which has been demonstrated by the announced SRK Consulting, ASX compliant VALMIN valuation which achieved a medium value of A$186 million, following detailed sensitivity and general analysis.
ANNUAL REPORT 2009
Oct 25th 2009
As foreshadowed last year, the company has sold the balance of its gas inventory for a profit of approximately $2.2 million. This was an outstanding result achieved by your executive management. Since 30 June 2009, the company has availed itself of the opportunity of further gas purchases and established a base storage of gas at the APA Mondarra facility.
Your company is more than ever convinced that providing power to the Mid West with Underground Coal Gasification (UCG) technology is the most economic and environmentally sustainable alternative available to the Government and people of Western Australia.
ANNUAL REPORT 2008
Sep 17th 2008
Industrial and mining project development in the Mid-West region of Western Australia, resulting in power offtake agreements with the Company, has been thwarted by a mixture of acrimonious takeover activity, delays in infrastructure approvals, and drastically deteriorating market conditions clouding the way forward and making development capital difficult to access....
ANNUAL REPORT 2007
Oct 5th 2007
It is no secret that Western Australia is facing major power demand to keep pace with the rate of resources and industrial development and consumer demand.
Your company has the innovation, strengths and resources to become a key participant in a deregulated WA energy economy, establishing itself as a new force in WA's energy sector....
ANNUAL REPORT 2006
Sep 29th 2006
It is fair to say that the Company's debut on the Australian Stock Exchange was the culmination of a difficult period in the Company's life. After issuing its prospectus in December 2005, the Company had to overcome a number of hurdles prior to successfully completing the initial public offer of securities to raise $8.3 million in April 2006....