Petratherm Limited announced they have signed a Memorandum of Understanding with Heathgate Resources, the owner of the Beverley Uranium Mine, relating to the supply of electricity to the mine from Petratherm’s Paralana Project. 

Only an hour or two later, Petratherm announced that they are also the preferred hot rock company to assess the prospectivity of China for non-volcanic geothermal energy under the AP6 agreement. Not surprisingly, PTR’s share price jumped from 29c to 37c!