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The Company originally listed on the ASX under the name of “Uranoz Limited”, at that time focusing on the exploration of early stage / greenfields uranium tenements in South Australia and Western Australia.
An Extraordinary General Meeting of shareholders on 16 October 2007 approved the ‘geothermal transaction’, being the acquisition of Scopenergy Pty Ltd – the owner and developer of the advanced and ready to drill Limestone Coast Geothermal Project and the |
acquisition of Panax Geothermal Pty Ltd (subsequently renamed Panax Holdings Pty Ltd) – owner of the Company’s geothermal interests in both India and Kyrgyzstan.
Following the Extraordinary General Meeting, the Board of the Company was transformed with the resignations of Mr Gavin Daneel and Mr Levi Mochkin and the appointment of Dr Bertus de Graaf as Managing Director and CEO. Also, following the appointment of Mr Kerry Parker as Company Secretary and Chief Financial Officer, Kerry was appointed as an Executive Director.
The Annual General Meeting of shareholders on 26 November, 2007 unanimously approved the Company’s name change to “Panax Geothermal Ltd”, which became effective on 14 December, 2007. The Company started trading under the ASX code: PAX on 18 December, 2007. As part of these changes the Company’s head office was relocated from Sydney to Milton, Brisbane.
In November 2007, Panax Geothermal Ltd resolved to dispose of its uranium assets and interests in both South Australia and Western Australia, and to concentrate the Company’s focus solely on its Australian and international geothermal assets and interests. The sale of the uranium assets is proceeding and expected to be completed by 31 March 2008. |
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