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Maxim Power Corp T.MXG

Alternate Symbol(s):  MXGFF

Maxim Power Corp. is a Canada-based independent power producer, which is focused entirely on power projects in Alberta. The Company acquires or develops, owns and operates power and power related projects in Alberta. The Company’s core asset is the 300-megawatt (MW) H.R. Milner Plant, M2, in Grande Cache, AB, which is a combined cycle gas-fired power plant. It also explores additional development options in Alberta, including its permitted gas-fired generation project and the permitting of its wind power generation project. The Combined Cycle Gas Turbine (CCGT) expansion of M2 captures waste heat that would otherwise exhaust into the atmosphere and converts it into low carbon dispatchable electricity for the Alberta power grid. In total, it has about 600 MW of natural gas and wind development projects at various stages. Summit Coal LP is a wholly owned subsidiary of the Company that owns metallurgical coal leases for Mine 14 and Mine 16S located north of Grande Cache, Alberta.


TSX:MXG - Post by User

Comment by Kilnon Aug 25, 2022 2:39pm
159 Views
Post# 34920508

RE:RE:Alberta Electricity 30-day rolling average $195.99/MW

RE:RE:Alberta Electricity 30-day rolling average $195.99/MWThe 30-day rolling average has broken through $250/MWhr, with spot prices as high as $900 during peak periods.  Does anyone know what is driving these high prices?

While I think your estimate of Q3 price per MW is reasonable ($155/MWhr), you may be underestimating margins in Q3.  In my view margins will expand.  In Q2 revenue was $48 million, with EBITDA margins of $19 million.  With Q3 forecast revenue of $60 million and no additional costs (flat natural gas, overhead), EBITDA in Q3 should increase by $12 million to around $31 million.  

Odd that the company is buying back shares, the insiders are buying shares, operations are about to expand by 50% and the market does not care.  
I would like to see the company start paying a modest dividend.  

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