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GBRCF: effective Oct. 10,2023 a one for 10 reverse split:
https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes
Primed and ready to go. Should be 5,10,15 banger. Also has good prospects for long term hold.
Did you see the negative post on yahoo finance? https://finance.yahoo.com/quote/GBRCF/community?p=GBRCF
This does seem to move on very little volume. Could be explosive.
Been looking at this lately. They have some not great yield half million gold oz. But are drilling holes near some hopeful targets. Good lotto play for but i think a sub 10 mil market cap
Effective May 3,2021 BLSSF will change to GBRCF:
https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes
BLSSF: effective Aug. 26,2020 Qx Metals Corp. will change to Gold Bull Resources Corp.
https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes
BLSSF: effective Feb. 21,2019 Black Sea Copper and Gold Corp. will change to Qx Metals Corp. and a one for 3 reverse split:
https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes
NGLPF changed to BLSSF:
http://otce.finra.org/DLSymbolNameChanges
Alternative Earth Resources Inc. changed to Black Sea Copper and Gold Corp. and a one for 1.24 reverse split.
http://otce.finra.org/DLSymbolNameChanges
NGLPF one for 2 reverse split:
http://otce.finra.org/DLSymbolNameChanges
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They drilled one deep hole which was hard to figure as part of the 'crapped out' well mitigation plan. Maybe that well would help whoever acquires Blue Mountain within the next couple years to qualify for those tax credits Congress passed benefiting renewable project constructions. I'd be curious to know if that decision came from outside Fairbanks and NGLPF.
I'm no industry participant, just another zero'd out shareholder. Putting the current BM well-field placement PPA-breaking failure aside, I dont think there is access to enough available water for producing power that a well-engineered deep BM geothermal resource could produce. At least not using the type of plant equipment there at BM today.
It did'nt bother me their trading fell off the boards here in the states. Got tired of Scottrade charging for R/S's and my little NGLPF stake cost enough already. 86% gain Friday. Big move for someones $700.
You are right, its getting thumped.
and likely to drop to below one cent in the next week. This company's management is a joke, I lost so much on this worthless stock I will need my current investments to become triples and home runs. No more alt energy stocks and def not geothermal, heck solar is a waste too, unless you played firstsolar and were able to get in at the bottom and sell in the 30s for a nice triple. My only concession is that Fairbanks has shown to the world he is a near worthless CEO, poor at financing/making deals (what you get from a geologist rather than a real MBA/b background), wasted millions in worthless wells that did nothing for BM1, and lacks the ability now to get a follow on job, who would hire him... ha at least that makes up somewhat for my losses. In the end I will recapture those losses thru gains in the next 2-5 years and Fairbanks will still be a horrible CEO...
Yup, and back to having nothing but some property leases.
Nevada Geothermal Power, Inc. changed to Alternative Earth Resources, Inc., and a one for 5 reverse split:
http://www.otcbb.com/asp/dailylist_detail.asp?d=04/01/2013&mkt_ctg=NON-OTCBB
well that sucks bigtime...5 to 1...R/S
The Circular also contains a Report to Shareholders from the President of the Company, which provides an update on the status of certain material developments concerning the Company, including:
a) a discussion of the structure of the debt encumbering the Blue
Mountain project in Nevada, and the Company's efforts to eliminate the
mezzanine debt and recapitalize the Company;
b) a summary of certain steps that have been taken to reduce operating
costs, including termination of the Company's registration and OTC
listing in the United States, which will eliminate costs of SEC and SOX
reporting requirements;
c) a proposed share consolidation that will be considered at the
Meeting. The consolidation, if approved and implemented, is intended to
facilitate the Company's access to equity financing, which is vital to
sustain the Company;
d) re-confirmation of the Company's shareholder rights plan, which will
be considered at the Meeting; and
e) an update concerning the status of certain geothermal projects,
including Blue Mountain (Nevada), Crump Geyser (Oregon), New Truckhaven
(California) and the Pumpernickel, North Valley and Edna projects
(Nevada).
Shareholder and investors who are interested in any of the foregoing matters should review the Report to Shareholders contained in the Circular.
About Nevada Geothermal Power Inc.: Nevada Geothermal Power Inc. operates the 49.5 MW Faulkner 1 geothermal plant in Nevada. It is a renewable energy developer focused on producing clean, efficient and sustainable geothermal electric power from high temperature geothermal resources in the United States. NGP currently owns leasehold interests in six properties: Blue Mountain, Pumpernickel Valley, Edna Mountain and North Valley in Nevada, New Truckhaven in California, and Crump Geyser, in Oregon. These properties are at different levels of exploration and development.
This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We have tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect our current belief and are based upon currently available information. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. We undertake no obligation to update or advise in the event of any change, addition, or alteration to the information catered in this Press Release including such forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Nevada Geothermal Power Inc. Brian D. Fairbank, P. Eng. President & CEO http://www.nevadageothermal.com
Information Contact: Nicole Smith Nevada Geothermal Power Inc. Telephone: 604-688-1553 X123 Toll Free: 866-688-0808 X123
SOURCE Nevada Geothermal Power Inc.
what is current sharestructure ?
what is current sharestructure ?
did you say reverse split? I don't have any now i got the other one..
it might be a good time to sit back and watch...
Well folks, if you havent seen the letter to shareholders, than you might want to. No positives, all negatives - Crump stopped by ORA, EIG looks like they will take over BM1 equity - no deal can be reached, running out of cash, no longer reporting to SEC, reverse split planned, resource improvement plan a bust... f its like they have zero luck and zero business acumen... what a waste..
Good article
thanks
Not sure if you read this recent news article on Nevada Geothermal situation!
http://www.kolotv.com/home/headlines/foreclosure_meltdown_slows_geothermal_interest_in_nevada_146127005.html?storysection=story
Back in today at .069
Its a high risk play I admit, but hoping to see some positive debt restructuring (not voluntary BK)
A process to restructure NGP as well as the EIG loan is proceeding under an advisory agreement with Canaccord Genuity. The Company anticipates a continued constructive approach from all parties while Canaccord Genuity's work is underway.
And if Faulkner can keep the production above 32MW they will satisfy the terms of thier PPA and avoid further tribulations.
The Faulkner 1 power plant is producing steadily at approximately 41MW (gross), 32 MW (net) while the company monitors resource information following the implementation of a resource maintenance program involving the re-distribution of plant outlet brine into three new injection wells.
http://finance.yahoo.com/news/nevada-geothermal-power-inc-ormat-132500839.html
Clean-Mining Technology Pulls Key Metals Out of Water
http://www.cnbc.com/id/46511826
this is a good article and shows how alternative energy is under assault because of the intrinsic start up expenses vrs its always cheaper in china....
http://www.cbsnews.com/8301-505263_162-57358484/tax-dollars-backing-some-risky-energy-projects/
NGLPF already has plant up and running..some glitches...geo thermal is great..imo
food cooks super quick..i love it.
But looks like NGLPF may be picking up soon.
I share your skeptical outlook in light of recent DOE failures.
Come by and check our board as we are very similar investors if you have not yet. Here is what I posted there regarding NGLPF yesterday.
malc
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=67857266
I suggest that you remain on the outside because the ability of this company to get any gov. funding has stopped with recent giveaways to other companys by the Obama Admin.. hank
GL hank and see you around I'm sure. Are you out thinking that the eventual outcome of NGLPF will be BK? The last 10-Q did not look too optimistic, at least the auditors assesment of current fiscal condition but of course they are covering their asses in the event of BK.
Mgmt remains straightfaced optimistic but what else are they going to do, say we are about to go down the pipes?
Watching on the outside for now,
malc
I sold my position and took my lumps on Friday and am removing myself as the Mod.. hank
low oil prices are not helping the situation either
Article regarding Nevada Geothermal in this Sundays Arkansas Democrat Gazette, I'm sure it appeared in many Gannett papers across the country.
WASHINGTON — In a remote desert spot in northern Nevada, there is a geothermal plant run by a politically connected cleanenergy startup that has relied heavily on an Obama administration loan guarantee and is now facing financial turmoil.
The company is Nevada Geothermal Power, which like Solyndra, the now-famous California solar company, is struggling with debt after encountering problems at its only operating plant.
After a series of technical missteps that are draining Nevada Geothermal’s cash reserves, its own auditor concluded in a filing released in late September that there was “significant doubt about the company’s ability to continue as a going concern.”
It is a description that echoes the warning issued in 2010 by auditors hired by Solyndra, which benefited from the same Energy Department loan guarantee before its collapse in August resulted in criticism of the Obama administration.
The parallels between the companies illustrate the risk inherent in building the clean-energy marketplace in the United States, government officials and industry experts say. The loan guarantee program exists because none of these ventures is a sure bet.
There are important differences between the fate of Nevada Geothermal and Solyndra, the maker of solar panels that has filed for bankruptcy.
The amount of money the federal government has at stake with Nevada Geothermal — a loan guarantee of $79 million plus at least $66 million in grants — is much smaller than the $528 million investment in Solyndra. There have been no allegations of wrongdoing by Nevada Geothermal or its Blue Mountain, Nev., plant.
Executives of the company express confidence that they can recover and say the government investment is not at risk, despite the challenges they face because of a high debt load and lower-than-expected energy output at their plant.
“We are here,” said Brian Fairbank, the chief executive, who like other company executives works out of Vancouver, British Columbia, where Nevada Geothermal has corporate offices. “We’re doing OK.”
An Energy Department spokesman said he considered the Nevada Geothermal project a success, noting that the company had a long-term contract to sell its power.
“The Blue Mountain power plant is up and running, generating clean, renewable power and has been consistently making its loan payments on time and in full,” the spokesman, Dan Leistikow, said.
The company also did not hire half a dozen Washington lobbying firms, as Solyndra did, and there is no evidence of White House involvement in pushing the project.
But the Nevada Geothermal project has benefited from the support of a bipartisan collection of Nevada politicians, most notably Sen. Harry Reid, a Democrat and the Senate majority leader, who has called his home state the “Saudi Arabia of geothermal energy.”
Nationally, geothermal energy produces only about 3,000 megawatts of power, a minuscule slice of the national electricity supply. The Nevada Geothermal plant generates just 35 megawatts — enough to serve about 35,000 homes for a year — and the company has only 22 employees in the state.
But Reid has taken the nascent geothermal industry under his wing, pressuring the Department of Interior to move more quickly on applications to build clean-energy projects on federally owned land and urging other members of Congress to expand federal tax incentives to help build geothermal plants, benefits that Nevada Geothermal has taken advantage of.
“This project is exactly the type of initiative we need to ensure Nevada creates goodpaying jobs,” Reid said in a statement in April 2010, after he visited the company’s Nevada plant. That was two months before the project even got conditional approval for the Energy Department loan guarantee.
During the tour, Reid had a chance to see electric generation equipment installed by a company called Ormat Technologies, which is a Nevada Geothermal partner. Ormat’s lobbyist in Washington, Kai Anderson, and one of the company’s top executives, Paul Thomsen, are former aides to Reid.
Last month, again with Reid’s support, Ormat secured its own Energy Department loan guarantee, worth $350 million, to help support three other Nevada geothermal projects that are expected to produce 113 megawatts of power.
Reid has received some support from the geothermal industry, in the form of at least $43,000 worth of campaign contributions since 2009, according to an analysis of federal campaign finance records.
Adam Jentleson, a spokesman for Reid, said the senator was proud of his work as an advocate for geothermal power and a broad array of other clean-energy projects in his state. But Jentleson, and the Energy Department spokesman, said Nevada Geothermal had not received, nor been offered, any special treatment.
“If projects like this did not contain a certain level of risk, alongside their enormous potential for creating jobs and generating clean energy, there would be no need for the bipartisan loan guarantee program,” Jentleson said.
An Obama administration official also pointed out that the Nevada Geothermal project won the enthusiastic support of prominent Republicans in the state, and of the Bush administration.
When Nevada Geothermal was finishing construction on its plant in late 2009, there was ample reason for optimism. Boiling waters are not far from the surface at the remote site, three hours outside Reno. The company had a 20-year contract to deliver power to the state’s largest electric utility company.
But even before it applied for the Obama administration incentives, problems at the plant cropped up. Company executives have variously predicted the plant could generate as much as 45 megawatts, after accounting for energy needed to power it.
Yet when the plant started up in October 2009, only 27 megawatts of net power were initially generated from the hot water pumped from the earth. That was not enough for the company to honor its commitment to the electric utility company, or to pay back a $91 million loan — carrying 14 percent interest — that it has with a Washington-based investment firm.
By drilling new wells to produce more steam at Blue Mountain, the company has been able to get the net power output up to a steady 35 megawatts. But, as the annual report released in late September reiterated, that was still not enough production to cover the company’s loans and operating costs.
Geothermal projects in general have encountered complications in recent years. They are a much riskier enterprise than solar panels or wind turbines, because the drilling can take several years and the power output is not guaranteed until the work is complete.
That explains why in recent months, shares of geothermal companies have collapsed, dropping far more than the shares of most renewable-energy businesses. Nevada Geothermal has traded lately for 10 cents a share or less, down from $1.24 when its plant opened in 2009.
Obama administration officials knew about most of these difficulties before the Energy Department agreed in September 2010 to partly guarantee a second major loan to Nevada Geothermal, worth $98.5 million.
Nevada Geothermal executives, meanwhile, are working to renegotiate the company’s $91 million, high-interest loan to avoid a default, which could come as soon as December. They have teamed up with Ormat to drill at a new Nevada site, and hope perhaps to do future drilling at the Blue Mountain site to increase the energy output there.
this one is trying to recover but its going to need a much bigger shot in the arm for the gains to hold. Good accumulation stock in that when the economy recovers a bit and energy prices become a source of concern again it will be back in the lime light.
accumulate some but don't bet the ranch.