OTCPK:MGMXD - Post by User
Comment by
CarpyDimeon Nov 11, 2016 1:19pm
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Post# 25450551
RE:Abandon hope all ye who enter here
RE:Abandon hope all ye who enter hereMaybe I'm not reading this the right way, but why would a growing company reduce staff or take pay cuts? Alterra is doing some pretty advanced drilling work in Iceland right now, Jimmie Creek is operating commercially (apparently on time and $4M under budget), progress is being made on a reasonably large scale Flat Top wind project, they have loans lined up and are moving forward on a couple of solar projects worth 20MWdc, they have recently completed financing to the tune of almost $70M, and so on.
Not sure I get the gripe here re: management. Seems to me that they are executing. If the problem is that they haven't done it fast enough, I would say that it's only been 5 years since incorporation. The industry itself is still emerging, and negotiating and implementing projects and deals of the type we are talking about are not exactly overnight things. There are tonnes of regulatory and financial hoops to jump through.
Rome wasn't built in a day, although for a lot of stockholders it sure can be burnt in one.....