Fortress Global Enterprises Inc - Class A FTPLF

RE:RE:RE:Looking Great!

[jdn55]

FTP has done nothing but disappoint in the last year+. I doubt very much the cogen is up and operating as I doubt they've fixed the problem yet and due to lack of news I suspect the problem was more time consuming, expensive and complicated then they anticipated. Management would have been crowing in an operational update if there was anything to crow about. About the only thing I can say is at least they haven't announced Q2 results on a Fri after the markets closed and they'll have some cash to buy time. Hate to be a harbinger of doom and gloom and I very much hope I'm wrong.

I do expect some positive guidance for Landqart but this DP business has been an out and out disaster so far. As far as Thurso goes I expect a substantial loss in Q2 (partially disguised by profit from Dresden divestiture)  and I think the best we can hope for is a turnaround at Thurso by late Q3/Q4 time period and a halt to all cash burning activity at LSQ until such time as the fundamentals of the DP market change for the positive and they get Thurso running properly and cash flow positive.

No more rose coloured glasses for this pig.