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Cradle Resources Limited ( (AU:EE1) ) has shared an announcement.
Earth’s Energy Limited has decided not to pursue further exploration and development expenditure on its geothermal assets in South Australia and Queensland, following an independent assessment by BDO Corporate Finance Australia. The assessment concluded that continuing such activities would not be in the best interest of the company or its joint venture, as it would not lead to investor engagement or create recoverable project value. Consequently, the company will limit its expenditure to maintaining existing licenses and will prioritize identifying new projects to enhance shareholder value.
More about Cradle Resources Limited
Earth’s Energy Limited is a company operating in the geothermal energy industry, holding exploration licenses in South Australia and Queensland. The company focuses on developing geothermal assets through joint ventures, with a significant interest in the Paralana and Flinders West Projects.
Technical Sentiment Signal: Sell
Current Market Cap: A$6.75M
For an in-depth examination of EE1 stock, go to TipRanks’ Overview page.