Mining firm proposes acquisition and geothermal development in Australia

Landscape at Biggenden, Queensland, Australia (source: flickr/ Owen Allen, creative commons)

Australian stock market listed mining company Greenvale Mining Limited (ASX: GRV) has shared an investor presentation having been delivered to investors this week relating to its proposed acquisition of geothermal energy company, Within Energy Pty Ltd (“Within Energy”).

The company seems to have been registered in October 2021.

As announced on 1 June 2022, Greenvale has agreed to acquire an initial 51% interest (with the option to acquire 100%) in Within Energy, which is developing geothermal resources from naturally permeable formations in Queensland and across Australia.

The acquisition will position Greenvale at the forefront of the Australian green energy market, while also providing the Company with a clear pathway to fast-track the permitting and development of its Alpha Torbanite Project in Central Queensland.

As outlined in presentation, Within Energy has invested significantly in identifying exploitable geothermal sources in south-east Queensland, with exploration permits covering approximately 11,000km2, and is ideally positioned to deliver carbon neutral geothermal energy on Australia’s eastern seaboard.

Within Energy has so far secured three Geothermal Exploration Permits in South East and Central Coast Queensland. A work program commitment can begin once Environmental Authority and Cultural Heritage Approval has been granted, so the investor presentation.

The presentation can be accessed via the link below.

Source: Company Investor presentation