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Hi Ecomike,
Anyone know what the book value and earnings or losses are?
Alterra Power Announces Release Date for Third Quarter 2013 Results
October 29, 2013 11:53 PM ET.
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CHNG
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MGMXF 0.29 0.00 +0.07
MGMXF
TSX : AXY
VANCOUVER, Oct. 29, 2013 /PRNewswire/ - Alterra Power Corp. (TSX: AXY) announces that its results for the three months ending September 30, 2013 will be released on Tuesday, November 12, 2013 after market close. A conference call and live audio webcast to discuss the results will be held on Wednesday, November 13, 2013 at 11:30 am ET (8:30 am PT).
About Alterra Power Corp.
Alterra Power Corp. is a leading global renewable energy company, managing seven power plants totaling 616 MW of capacity, including British Columbia's largest run-of-river hydro facility and largest wind farm, two geothermal facilities in Iceland, a geothermal plant in Nevada, and a solar facility in Ontario. Alterra owns a 302 MW share of this production capacity, generating approximately 1,400 GWh of clean power annually. Alterra also has an extensive portfolio of exploration and development projects and a skilled international team of developers, explorers, builders and operators to support its growth plans.
The company trades on the Toronto Stock Exchange under the symbol AXY and OTC in the United States as MGMXF.
Cautionary Note regarding Forward-Looking Statements and Information
This news release contains certain "forward-looking information" within the meaning of Canadian securities laws, which may include, but is not limited to, statements with respect to future events or future performance, the fulfillment of all conditions precedent to the obligation of the parties under the agreements, required consents and third party approvals. This news release also contains statements with respect to our plans to expand our operations, management's expectations regarding our growth, business prospects and opportunities and energy generation capacities. Such forward-looking information reflects management's current beliefs and is based on information currently available to management.
SOURCE Alterra Power Corp.
What is their mix of power plant capacities now between the three?
I think Alterra has finally figured out the formula for success is Solar properties and projects first and foremost then wind and geothermal. When you look at the large successful alternative energy companies solar is king.
Alterra finally understands this I think and they are trying to increase there solar properties and hopefully the number of big solar projects.
Any idea what this means for Alterra?
First Solar sells three solar power plants to G.E., Alterra Power
03 Sep 2013 .
Published on Tuesday, 03 September 2013 09:04 Hits (242) .
First Solar sells three solar power plants to G.E., Alterra Power
The 20MWAC Walpole Solar Power Plant is one of three solar projects in Ontario, Canada acquired by partners GE Energy Financial Services and Alterra Power Corporation from First Solar, Inc. Electricity from the 50MWAC collection of projects will be sold to Ontario Power Authority under its Renewable Energy Standard Offer Program (RESOP) with 20-year power purchase agreements. Photo courtesy of First Solar, Inc.
First Solar has sold a total of 50 megawatts AC worth of solar projects in Ontario, Canada to an investment partnership led by G.E. unit G.E. Energy Financial Services.
First Solar has completed the construction of the Amherstburg (10 MW AC), Belmont (20 MW AC) and Walpole (20 MW AC) which are commissioned and already providing power to the grid.
Collectively known as the ABW Partnership, the project is majority owned by G.E. Energy Financial Services and Alterra Power Corporation. First Solar will provide operations and maintenance services for the project under long-term contracts.
The outputs of the three power plants will be sold to Ontario Power Authority under its Renewable Energy Standard Offer Program, with 20-year power purchase agreements.
Combined, the Ontario facilities are expected to produce enough clean energy to power approximately 6,300 local homes and avoid 14,600 tons of carbon dioxide a year.
The projects will also contribute to a cumulative one-gigawatt, $1.5 billion solar investment portfolio for G.E. Energy Financial Services.
This is the first project transaction between First Solar and G.E. since they signed a solar technology and commercial partnership on August 6.
As part of the technology partnership, First Solar acquired G.E.’s global cadmium telluride (CdTe) solar intellectual property portfolio. G.E. in turn received 1.75 million share of First Solar common stock that they will retain for at least three years.
The combination of the companies’ complementary technologies and First Solar’s existing manufacturing capabilities are expected to accelerate the development of CdTe solar module performance and improve manufacturing efficiency. The two companies will collaborate on future technology developments in CdTe.
G.E. and First Solar have also formed a commercial relationship around solar inverter technology, with First Solar continuing to purchase inverters from G.E. for its global solar deployments. – EcoSeed Staff
I like the sound of that, may explain the charts!!!!
Company: Alterra Power Corp.
Canadian Ticker: TSX:AXY
US Ticker: OTC:MGMXF
Business: Renewable Energy Developer and operator with a diversified portfolio of geothermal, run of river hydropower, wind and solar assets on three continents.
Who’s Buying: Executive Chairman and founder Ross Beaty bought 37.6 million shares at prices between C$0.29 and C$0.32 in April and June. He has hinted that he might buy the entire company if the stock price does not recover.
OK, never mind about that message. It was setup in error. I am following this one now.
I opened a new board for this company, with the new ticker AXY
It is here:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=91382994
If there is anyone left here, please join us on the new board.
Insiders Are Buying These Five Canadian Cleantech Stocks
Toronto Stock Exchange
In the US insider trades are easily found on the SEC website, stock exchange websites, and financial aggregation sites. No so in Canada. A search for insider trades for a Toronto-listed stock on Google will turn up all the financial aggregation websites, but they don’t have any data.
The TSX has more clean technology listings than any other exchange worldwide, many of which are truly international. I follow several, so I was thrilled when I came across CanadianInsider, where anyone can peruse recent insider trades for Canadian listed companies.
Of the 14 Canadian clean technology companies I own, here are the ones that have seen recent insider buying.
Company: New Flyer Industries Inc.
Canadian Ticker: TSX:NFI
US Ticker: OTC:NFYEF
Business: The largest manufacturer of heavy-duty transit buses in North America.
Who’s Buying:
•President and CEO Paul Soubry bought 14,400 shares at C$10.80 and C$10.64 on August 20th and June 25th
•Board Member Wayne McLeod bought 3,200 shares at C$11.25 on August 14th
•Executive Vice President Wayne Joseph bought 9688 shares at C$11.25, C$10,90, and C$10.75 on August 13, June 28th and June 26th.
Company: Ram Power Corp.
Canadian Ticker: TSX:RPG
US Ticker: OTC:RAMPF
Business: Geothermal Power developer and operator with main projects in Nicaragua and the US.
Who’s Buying: Director Alistair Sinclair bought 1,100,000 shares at C$0.15 on June 18th.
Company: Alterra Power Corp.
Canadian Ticker: TSX:AXY
US Ticker: OTC:MGMXF
Business: Renewable Energy Developer and operator with a diversified portfolio of geothermal, run of river hydropower, wind and solar assets on three continents.
Who’s Buying: Executive Chairman and founder Ross Beaty bought 37.6 million shares at prices between C$0.29 and C$0.32 in April and June. He has hinted that he might buy the entire company if the stock price does not recover.
Companies: Renewable Energy Developers (ReD) and Capstone Infrastructure Corp.
Canadian Tickers: TSX: RDZ and TSX:CSE
US Ticker: OTC: STWPF and OTC:MCQPF
Business: Canadian Renewable Energy and Clean infrastructure developer and operator Capstone is in the process acquiring smaller ReD in an all-share deal. Each ReD share will be worth 0.26 Capstone share.
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Well I don't like this painted a lower high recently and couldn't maintain the new nice S/R level it found recently. I have concerns this will keep dilluting as it builds itself out and current common shareholder may never enjoy the future riches this company may enjoy. So I've decided to sell today and will be crossing this off my list. Also am resigning as the mod of this stock.
And the fun continues. Must be we are generating some real power here...
MGMXF has formed a Cup and Handle, should run an other $0.20 if its to follow through with the pattern.
What I understand, the geothermal projects are very expensive, but have very long life spans. Same with the hydro projects. Wind is competive now which seems to be why most of the wind projects are privately held...
This is a great little company and if the dillution can stop soon shouldn't go much lower. Unfortunately with the current share structure, it will be for this to trade above $1. I may actually sell my shares soon. Not quite as high on this anymore.
Thanks again for the report.
That's the way it looks; Green energy is the preferred path but Unfortunately, not an easy or profitable one to start-up.
I read some of the report you sentn thanks, and was dissapointed the OS is 411 million shares. They already seem to have sizable debt of $400 million. I think flipping is the correct idea as a reverse split is surely to come someday. Green energy will probably suffer some more through the next recession.
I plan to trade in and out, till they achieve enough build-out to show a positive cash flow . The share price will fluctuate because they must finance growth going forward, that will require more dilution, till we can sell bonds like the big guys. The dilution was well worth the big increase in KWh we received.
P.S. check you mail
Happened to notice the financials are out and looked at the summary on the comapany's website. There are some good things to note:
1. The dillution I was worrying about wasn't that severe and I estimate the OS is 290 million shares and they added 50 million shares or so last year. Will look at the full financial summary to confirm this.
2. Power production increased to 1,463,529 MWh. At 10 cents a KWh that's $146,000,000 in revenue? I'd expect 2012 to be much larger as that is a prorated number.
3. Assets minus long term liabilities are about 658 million or 1.61 per share.
4. Cash and short term investments are 74 million or 25 cents per share.
The bad thing I noticed is they lost 5 cents a share last quater. That's something to keep a close eye on.
Don't think I'll buy any more shares here, but may if it gets any cheaper like the 30s. It appears this company is the real enough. When they turn some positive earnings some really good things could happen. Seems like there is some value here.
Look forward to that pdf.
MTT
'maybe_this_time' I downloaded a Reuters Investment Profile from Etrade Global in PDF form. I will try to find away to download it to Ihub. It has two analyst rating AXY as Outperform. updated Oct 2011.
Gross Profit is 47%, Assets have grown to 1,124.8 MILLION, Net profit will come in time but it is a waiting game as they build out capacity.
Hello ~ MTT,
You should just PM.
Heee hee, I see you morphed the post, but I'll let it ride... I don't think Alterra will go bankrupt, just may not actully reward it's initial shareholder in the short term. Like I said, when the next annual financials come out, I will access the dillution versus growth issue and decide to hold this or not. I don't love any stock this days, but love alternative energy and know it will be part of the future. My favoriate fishing spot in nothern NY, Chateugay, has a buetifuel wind farm with 75 turbines. As you drive over Lion Moutain goin north, the site is specatular. Actually my 2nd home dream will be a green home with both solar and wind, maybe even a little hydro if I'm lucky enough to have a site. With a payback period of 10-15 years, consumers sending power to grid may be no brainer. When I'm not in my vacation home, put the power I'm generating back in the grid and send it down to NYC...
Being I'm in the NY area, I've been hearing a little news about the Wall Street protests, just a little. Today 4 young women were maced by the NYPD. A Wall Street professional was quoted yesterday, "Yeah some of the protesters are legitimate, buy many are here just for the show." I imagine it will get squashed shortly... I think it will take a complete and thourough collapse of markets, like the one Pretcher talks about, far beyond what you are predicting for things to change. Time will tell...
Have a good Eve 1Best.
Hello MTT, Yes, it is.
Not sure what oil countries will do in very long term basis as we are going into high tech environmental age such as alternative energy. There are only a few areas of major tech development -- internet related tech and environment.
As for the graphic, I really like that the very informative graphic illustration.
Absolutely interesting comment for pointing out the effects of diluting stock and its mechanics. For most of people, it is being unnoticed similar as ETF price is depreciated over time.
I do like alternative energy companies, and hope that your beloved stock does not go bankrupted ~ RATHER, it will be doing very well with massive price appreciation ~ :)
It is Alterra is interesting stock since it is involved with different venues of alternative energy development.
Really, it seems that global economic growth will come from environmental area and inventions, but global economy is stuck in mud because of money flow manipulation rather than promoting genuine invention for betterment of our world. M Moore made a good comment posted on CNN which is well illustrating what is going on in global economy and finance. I like what he said.
http://www.cnn.com/2011/09/27/business/wall-street-protests/index.html?hpt=hp_t2
I restarted to go Workout Club to get back into shape ~
http://www.lafitness.com/
BTW, I have a few sites of 100s of chart setup where I can quickly scan my chart set ups to know what markets are doing even though I only post SPX chart. Major markets do reflect similar, fractal movements.
As for my bearish market view ~ SPX 555 by 10/28/2011 ~ :)
As for VST trading, I used to post VST trading signals, but it sure is a big distraction -- especially for me it was. I should be more focused. I saw you have iHub paid subscription, you now can send me your email address via PM which is a good thing ~
Nice post on Solar versus Oil subsidies 1Best... Isn't it just sickening...
I have a small position in Alterra, purely based on the story as told by the CEO before the Plutonic merger. BUT, as you know, what looks great on the surface may not be so great. I have to revisit the financials when the 2011 annual report comes out, but I believe there is a dillution problem which is why it trades at 50 cents here. They could just keep selling shares to build out thier projects and the share price goes nowhere. Wonder how invested the upper management is in common shares? That's a clue. Or earnings and or more traditional financing could take over to fund expansion and this thing could see some real price appreciation. Alot of these early ventures see key management with preferred shares only, but selling common shares to fund the company. They then reverse split to uplist keep teir stake in the company in tact. Just a possibility here and IMO.
This is a rare stock if you like green energy since you can invest in geothermal, wind and hydro. BUT, will it turn into profits for early shareholders? Don't know. A long term hold of 5-10 years just may deliver something...
Complete alternative energy power ~
Such as Alterra would be sweet dream coming true.
Do you have Alterra? MTT
Hello MTT, this is an interesting article about Solar Energy.
Solar energy is most clean and plenty.
What I heard is that US is slower with alternative energy than other countries because patents are screened by owners of big oil corps even though most of solar energy would be replacing electric than oil. Massive eggs can be cooked on the top of car surface... and dashboard ~ Solar energy R&D team would be dreaming solar energy chip surfaced car body and all buildings as 100% energy source.
http://holykaw.alltop.com/what-if-solar-got-fossil-fuel-subsidies-infog
I am looking forward to the release of 2010 financials! Does anyone know when they are coming out?
When I listened to CEO on Financial Sense I immeadiately got the impression he's the real deal. When you look over the financials, the one problem that will become apparent is they have been selling shares to finance the initial buildout. The float doubled during 2010 FYE. At some point they should get large enough where they can go grow with a combition of profits and other debt instruments.
I have a long term target of $4.50, but think $1.50 is certainly going to happen at some point. On the downside, the market is on the edge of another serious pullback, so cheapies may be coming. I'll probably triple my position if that happens...
I think this could go back up to at least a dollar or even double by when the financials are released in September. With good financials, who knows where this could go. I believe that today is the official year end for Alterra assuming they kept that the same from Magma. I saw that Grant Thornton audited them last year. Grant Thornton is a very good firm and I am impressed that they put out that kind of money to have a really good job done to provide us with financials we can trust!
Well the old Magma financials show around 250 million shares out as ot 6/30/2010 so not dirt cheap... An interesting thing is all the stock option grants have a strike price of $1.50 and the last public offering went for over a buck.
So yes, it appears this is pretty cheap here.
I'll have to spend some time and get caught up here. They have all their filings on the website:
http://www.alterrapower.ca/corporate-profile/Corporate-Reporting/default.aspx
I agree 100 percent!
We should try and dig up the share structure. I'd think a market cap below 200 million here is cheap looking at the 5 year projected growth in MWs coming on line.
Heard Ross Beaty do an interview last winter here:
http://www.financialsense.com/financial-sense-newshour/big-picture/2010/12/04/03/robert-west-ross-beaty/alternative-energy-opportunity-and-solutions
Think he's in the 2nd half of the program. Enjoy!
Looks great! Not too much volume today, but that will come soon enough I am sure. How did you guys hear about this company?
I think they have a new TX ticker. The OTC counterpart we own didn't change and I guess won't.
I thought the same thing, but I think that they are planning on keeping the ticker the same as what Magma was.
I just took some liberties and updated the iBox info (hope you don't mind audit...)
thanks, What is confusing is the MGMXF sysmbol will that change?
MAGMA ENERGY & PLUTONIC POWER CORPORATION COMPLETE MERGER TO CREATE ALTERRA POWER CORP.
8:00a ET May 13, 2011 (PR NewsWire)
Magma Energy Corp. ("Magma") (TSX: MXY) and Plutonic Power Corporation ("Plutonic") (TSX: PCC) today announced the completion of the merger of Magma and Plutonic pursuant to a plan of arrangement (the "Arrangement"). As previously announced, the Arrangement was approved by the Supreme Court of British Columbia on May 9, 2011.
Pursuant to the Arrangement, Magma has acquired all of the outstanding shares of Plutonic on the basis of 2.38 common shares of Magma and Cdn. $0.0001 in cash for each Plutonic common share. In addition, all of the outstanding stock options to purchase Plutonic common shares are now exercisable for common shares of Magma in accordance with the same exchange ratio.
In connection with the Arrangement, Magma will change its name to "Alterra Power Corp." and its common shares will, subject to receipt of final approval of the Toronto Stock Exchange ("TSX"), trade on the TSX under the symbol "AXY". For trading purposes, the change of name and trading symbol are expected to become effective, subject to TSX approval, as of the commencement of trading on May 18, 2011.
Subject to TSX confirmation, Plutonic common shares are expected to be delisted from trading on the TSX as of the close of business on May 17, 2011.
About Magma Energy Corp.
Magma Energy Corp. is a geothermal power company which owns and operates 198 MW of geothermal energy projects while actively exploring for and developing new projects. Magma has an extensive portfolio of properties throughout the western United States, Iceland, South America and Italy, including one operating power plant in Nevada and two in Iceland.
About Plutonic Power Corp.
Plutonic Power identifies, develops and operates clean power projects in a safe reliable and efficient manner. Plutonic Power strives to be a Canadian-based leader in clean power. Plutonic's principal operating facilities are the Toba Montrose Hydroelectric Project and the Dokie Wind Farm. These assets are held in partnership with GE Energy Financial Services of which Plutonic is the managing and operating partner. For more information, visit www.plutonic.ca
The TSX Exchange does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements and Information
This news release contains certain "forward-looking information" within the meaning of Canadian securities laws, which may include, but is not limited to, statements with respect to future events or future performance, including the expected date of the change of Magma's name and trading symbol and the expected date for the delisting of Plutonic common shares.
These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. Plutonic and Magma, respectively, do not undertake to update any forward looking statements, oral or written, made by itself or on its behalf.
SOURCE Plutonic Power Corporation
What's the merger status? I can't find info on it, although I see they have combined their assets. TIA
No problem... I can get the pdf ingo in there. Good luck to us early birds here!
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Alterra Power Corp is a leading global renewable energy company, formed in 2011 through the merger of Magma Energy Corp and Plutonic Power Corp. We produce 1,575 GWh of clean power annually from 147 MW of geothermal capacity in Iceland and Nevada, 94 MW of run-of-river hydro capacity in B.C. and 73 MW of wind capacity in B.C. We have an extensive portfolio of exploration and development projects, a skilled international team of explorers, builders & operators and strong financial capacity to support our aggressive growth plans.
http://www.alterrapower.ca/
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