OTCPK:MGMXD - Post by User
Comment by
LucasKnighton Mar 22, 2017 10:37am
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Post# 26013425
RE:Show me the money
RE:Show me the moneyHave been doing extensive DD on this renewable energy play. Great projects but i am not certain on what their PPA agreements are. Numbers indicate that the management needs to have a restructure. Do feel that more capable and experienced board needs to be put in and steer this company's direction along the right path.
Ross Beaty aka the broken slot machine, has made some investors a lot of money - including me, in previous projects namely Lumina Copper. However, the renewable energy sector is another ballgame altogether. Huge front end capital with cost subsidies by governments that enable them to get projects on the drawing board. On that regard, however, AXY has done well and constructured some great projects. Their recent well shows that their geothermal acreage is extremely worth looking into.
One thing to remember is that a great project can be mishandled by incapable management. Conversely, an average project can me made possible with sound capable management. AXY needs some kind of change.
Projection - $5.50 in the near term