Nevada Geothermal Power Inc. Acquires Third Nevada Geothermal Project In Prolific 'Corridor Of Heat'
Nevada Geothermal Power Inc. (NGLPF) announced today that it has acquired 7 square miles of private land and has applied for a one section federal geothermal lease for a total land area of 8 square miles (22 square kilometers) south and east of Black Warrior Peak, Washoe County, Nevada. The leases are on private land and are subject to a 3.5% royalty on gross revenue from electricity sales, however, NGP can purchase the royalty for US$1,000,000. Leases include surface and water rights. [ more ]