MEL Sharemarket Price

$0.090 MEL on ASX

Projects

Richmond Valley Power Station

In 2006 Metgasco made its initial government submission to develop the Casino Gas Project and Richmond Valley Power Station.  The project involved drilling up to 40 wells over a 20 year life and building a 30 MW power station, just south of the Casino township. 

In 2010, after 3 years of reviews and submissions, the Development Approval for the project was received.  Following a 2 year period in which native title issues were worked and the award of a production licence was delayed by the NSW Government’s review of CSG legislation, in September 2012, the NSW Government announced that a production licence for the project would be awarded.

The project is currently on hold.  Changes in the eastern coast electricity market have questioned the need and timing for new base load power stations, changing the economics for the proposed base load power station.  Metgasco continues to review options, which include the building of a peak load power station rather than a base load power station.

The project's Environmental Assessment can be viewed at the NSW Department of Planning website at:

http://majorprojects.planning.nsw.gov.au/index.pl?action=view_job&job_id=12