OTCPK:MGMXD - Post by User
Post by
carinthianon Aug 13, 2013 2:20am
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Post# 21665717
so the numbers are out...
so the numbers are out...Any opinions on that numbers?
To me it seems that everything is taking longer and going slower than they said last time. The operating assets appear to work quite well just looking at revenue and EBITDA whereas new projects or expansions seem to hav their troubles and delays...
What caught my eye is tat the 10% oof ABW solar now do cost 7,2 mio which as far as I can remember were alsways 6mio in their presentation (when there used to be one). If this thing really does contribute around 3mio. to EBITDA (I guess this number was once given ia presentation) I am fine with that. What bothers me is that in their last call they did say this is closed in July and now we have mid august...
Jimmie Creek is now scheduled for May 2016 which - I might be wrong - is some month later than second half of 2015 which I have had in my mind for completion of the facility. What would be interesting here is if the power purchase agreement for Upper Toba has been cancelled when the speak of a "future call for power". In the last call they spoke of the "Upper Toba complex" and I got the impression that the change is that this will be built in tow steps. Now it seems to me that Uper Toba is put in mothballs.
Dokie 2 was already said last time that this will have to wait until times change and more power is needed and they get a PPA in place.
Chile and Peru: No surprise here, personally I would have liked better to see them develop a bigger part of that projects but at least with that there should be progress and 30% of the amounts needed seem to me that Alterra should be able to fund.
What does look appealing to me in the very log run are the very early stage run of river and pumped storage facilities.
Finally Greenbriar. I thought of this as some near term production that can be added. Now that the agreement is cancelled keeping the capital tight and concentrate on the more appealing forms like wind, hydro and geothermal might be better in the long term.
Lot of "long terms" in here. I have o admit that progress is even slower than they said during the last call. As Iong as the operative assets are performing within forecast and Ross Beaty does not sell I think I will keep my place at the table as I am sittig here not for capital gains but for a nice dividend when I am retired. :-)
As always: My personal thoughts. DYODD
carinthian