Dear 4th Resource Shareholders,
4th Resource has been active in developing and building a portfolio of geothermal projects both domestically and internationally. The company is fine tuning its strategy, focusing on building a diversified portfolio of projects with varying degrees of maturity and time to cashflow. Additionally, 4th Resource is innovating on a phased/stepped approach to geothermal development to shorten the time to commerciality.
Beginning with its flagship asset, the Harmokale Geothermal Project in Ethiopia, 4th Resource is building a model for development and exploration. Joining with Ethiopia’s sovereign wealth fund (Ethiopian Investment Holdings) will be crucial to move forward in Ethiopia by gaining guidance and assistance to governmental policy and execution. 4th Resource is constructing a framework around ancillary revenue models to drive forward geothermal development in the region including water purification, coffee drying, data centers, etc. 4th Resource is very excited about the direction the government has taken in Ethiopia by instituting reforms that have built investor confidence and renewed funding interests within the country.
4th Resource is continuing to advance discussions around a project in Kenya. This project is exciting in size and maturity having had work previously completed on it, thus opening the door for 4th Resource to become an operator. We have assembled a strong in-country team and will leverage our oil and gas experience to reinvigorate and commercialize the project.
Continuing forward, 4th Resource has built inroads in the county of Djibouti and is continuing to work to close a project with the government of Djibouti. We at 4th Resource like Djibouti both for its geothermal potential but also its need and desire for renewable energy. We have terrific support from governmental agencies both here in Canada and based in East Africa. This support has lent credibility and provided access to decision makers.
4th Resource is pleased to soon release a new updated website. We look to the website as a portal for company updates and as a way to share news and current activities with you, our valued shareholders. We will endeavor to keep you better informed and if you have any questions, please reach out to us directly.
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