OTCPK:MGMXD - Post by User
Comment by
carinthianon May 12, 2016 2:42am
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Post# 24864872
RE:Enough is Enough
RE:Enough is Enough
Well at least no surprise to the upside in those numbers... What I did not know but heard in the call is that as it seems the power produced from Shannon is sold to spot market Prices which are as low as they've never been before. So until the hedge for production at Shannon kicks in (which should be beginning of June if I got that right) I think we should not expect much of a contribution from Shannon. What bothers me most is that they are still not finished refinancing their bonds they took for the HS Orka purchase... So to sum it up my expectations are that we might have to wait until Q3/Q4 numbers to see the Impact of Shannon and Jimmie Creek as I have already given up on the proposed Expansion Projects in Iceland... And I do not expect a dividend this year either because before there is no proof that Shannon and Jimmie Creek can deliver what they should it would not make any sense... I fear our Patience will be tested another year at least... Just my personal thoughts. DYODD carinthian