GDY is one of the more interesting speccy's on the market. At first glance you would be mistaken to think it is another speccy concept bound to go wrong. But, I don't think this is the case.
GDY is currently drilling a 5km hole in South Australia or until it hits the centre of the earth. With a drill bit they plan to use the heat from 5km deep to produce electricity. In mid-January GDY spuds its first hole at NE South Australia which could spark speculative interest.
GDY's major backers are the Australian Government with $5 million in grants, Woodside which has a 31.6% interest via Metasource and the Australian National University holds 7.9%. With such strong parents it is a suprise that GDY is trading below it's issue price and at current levels it is worth a look. I very recently bought GDY for abit of fun.
RNE Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
