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Nice catch, the last half of your response made my day.
Massive selloff before the storm hits? Nobody can say this isn't a hurricane play at least... but there is a lot of risk investing in this. Who knows what happened today though?
You have phone numbers that actually work? Please share them with me!
It's looking like it's my to jump aboard again.
Yeah, I guess you did. I don't think that anyone is ever going to find accurate contact info for these guys though which makes this a very speculative pick. If a PR did come out or if they proved their existence this could go up a bunch. My favorite aspect of this stock is that it seems relatively if not completely unaffected by everything that is going on.
So that is a positive attribute of this stock, right?
I don't know if you picked any up yet, but I would have to say it sure seems like a pretty good buy right now!
I am looking forward to the release of 2010 financials! Does anyone know when they are coming out?
Here is a serious question for both the supporters and everyone else concerned with NSMG.
How/why is it not at .0001 and why has it never been at that point?
I don't know, but all things considered it is very interesting that it hasn't gone there yet. Maybe it means nothing, but I think it might be a positive sign here. I haven't owned any shares for a while now, but I am looking to potentially get back in if the price is right.
Interesting day today... So much volume, and all of the sells were very small and the buys toward the end were unusually large. I look forward to a rebound day tomorrow hopefully.
Is this a hurricane stock at all?
It is interesting that they posted a gain for the year. Crazy how they turned a prior year loss of $520K to a gain of $23K.
No more maturities on LT debt?
This looks great... but I am going to have to agree with Fung on this one: NSMG's statements are really meaningless until they are audited.
If this company got current in 2011, then released an audited 1Q soon after, this would go through the roof. Can't see that happening though, although this is the first step in the process.
The rest of us are just waiting until there is some more activity in the gulf.
What a great day for MGMXF!
It's gonna be a rough day tomorrow....
Thanks for the info! I used to invest in this, but after the A/S increase I jumped out. I thought I was gone for good until I saw the price, but with this information you just shared there is no way I will ever touch this again if he really was lying about not working with the port. Can he and the company get in trouble for lying like that?
Could this be dilution? Looks somewhat like that to me.
I bet the share price will go up a bunch when the economy recovers and people start eating out more.
I also love this company's food. It is seriously the best/healthiest fast casual food I have ever had!
I love that the company doesn't have any debt!
I can't believe how cheap these shares are right now!
This is the most accurate post I have seen on here in a long while.
It means Pink No Information. Similar to CE which is Caveat Emptor and PC which is Pink Current. Obviously it is better to be in PC, PN, then CE. That is just my opinion, some people prefer the risk because the reward can be higher... who knows.
Correct me if I am wrong... but what good could come of there being 5,000,000,000 additional authorized shares?
Previously we had 1.5 Bil, Right?
So say he gives 2.5 Bil to a Chinese exchange and 2.5 Bil to the manufacturer, wouldn't that still mean that our 1.5 Bil become 6.5 Bil which means that we have to share profits with 6,500,000,000 more shares where previously it was only 1.5 Bil that we had to share with?
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!
I agree 100 percent!
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 thought the same thing, but I think that they are planning on keeping the ticker the same as what Magma was.
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
MGMXF (Alterra Power Corp)- Geothermal company that just completed a merger that has temporarily lowered the share price, but will be a very good acquisition in the long run. Take a look at the company's website. You will find that this investment doesn't have the same risks as many of the other stocks mentioned here, but has the same amount of potential reward. Check MGMXF out!
Sorry about that- I did that around 5 today when I realized that nobody was a moderator yet. I put the first two graphics on, but couldn't figure out how to post from the PDF. I look forward to seeing it with the new information. I think tomorrow should be a decent day. I'd like to try and get more people interested in this hopefully, too.
Take a look at this page. This merger looks to be a great deal in the long run.
http://www.alterrapower.ca/Theme/Magma/files/COMPANY%20SNAPSHOT%20JUNE%207_v001_t1dk20.pdf
Do you know how to take the company snapshot from PDF form and put it in the ibox? I have recently found this company because of a friend who has a pretty nice investment in this and invests in companies other companies like this. I am excited to see where this is going. This is certainly going to go up when the annual report comes out with earnings hopefully!
Alterra Power Provides Update on Toba Montrose and Dokie Operations
06/28/2011
TSX : AXY
VANCOUVER, June 28, 2011 /CNW/ - Alterra Power Corp. (TSX: AXY) is pleased to provide an update on operations and power production at the Toba Montrose hydro facilities, owned by the Toba Montrose General Partnership, and the Dokie wind farm, owned by the Dokie General Partnership. Both facilities are operated by Alterra Power on behalf of the partnerships. As a result of the merger of Plutonic Power with Magma Energy, Plutonic did not release results for the first quarter of 2011. Alterra's next financial report, for its 2011 fiscal year end of 30 June, is not scheduled to be released before mid-September. Alterra therefore provides the following interim update:
Both the East Toba and Montrose facilities have been running at high capacity since early June, with average generation for the month near capacity at 190 MW. An unusually cool spring and above average snowfall in 2011 resulted in a near record snowpack that remains at 165% of average. Based on this snowpack and inflow forecasts Alterra expects the facilities to continue running at these elevated levels through the summer and well into the fall.
To date in June the combined East Toba and Montrose facilities have had an average daily generation of 4,550 MWh, with a high on June 23 of 5,350 MWh.
At the Dokie wind farm facility, all 48 wind turbines are operating successfully. From the start of commercial operations on February 16, 2011 through to the end of May, wind turbine availability has averaged 95.6%, notably higher than expected.
High rainfall on June 24 and 25 caused severe flooding in the Chetwynd area near the Dokie wind farm. Road access to the site was impacted by washouts and two feeder transmission lines were slightly damaged, but the wind farm facilities did not experience any significant damage and have continued generation. The feeder transmission line repairs are scheduled to be completed by June 29.
Bruce Ripley, Alterra's Chief Operating Officer, said, "I am pleased that our inaugural year at the Toba Montrose hydro facilities is shaping up to be an exceptional one due to the favourable snowpack that creates our generation base for much of the year. I am also pleased at the good operating performance of our Toba Montrose and Dokie facilities and commend our management teams at each of these operations for their excellent work."
About Toba Montrose General Partnership (TMGP)
TMGP is a 40/60 partnership between Alterra Power Corp. and GE Energy Financial Services that owns the Toba Montrose hydroelectric project, located near Powell River, B.C. on the traditional lands of our First Nations partners: the Klahoose, Sliammon and Sechelt First Nations. The TMGP plants at East Toba River and Montrose Creek are British Columbias largest run of river hydro plants. They have combined capacity of 196 MW and are expected to generate an average net annual energy of 710-730 GWh, which is contracted to B.C. Hydro under a 35-year EPA.
About Dokie General Partnership (DGP)
DGP is a 51/49 partnership between Alterra Power Corp and GE Energy Financial Services that owns the Dokie wind farm project, British Columbia's largest wind farm. The Dokie project is located near Chetwynd, B.C. on the Treaty 8 lands of our First Nations partners: the West Moberly, Saulteau and Halfway River First Nations and the McLeod Lake Indian Band. DGP's 48 Vestas V90 wind turbines have combined capacity of 144 MW and are expected to generate an average net annual energy of 320-340 GWh, which is contracted to B.C. Hydro under a 25-year EPA.
About Alterra Power Corp.
Alterra Power is a global renewable power producer and developer. Alterra operates six geothermal, run of river hydro and wind plants in Iceland, Nevada and British Columbia with combined capacity of 531 MW. The company has an extensive portfolio of exploration and development projects, a skilled international team of explorers, builders and operators and strong financial capacity to support its aggressive growth plans. Alterras five-year plan is to increase its renewable generation base to more than 1,000 MW.
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, prospects for closing of the sales described in the Share Purchase Agreements, 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 and HS Orkas plans to expand their geothermal power production, managements expectations regarding our growth, business prospects and opportunities and geothermal energy generation capacities. Such forward-looking information reflects managements current beliefs and is based on information currently available to management.
First tropical storm of the year! Looks to be heating up. I plan to load up as soon as a real threat is on the horizon or if there is any news.
This is an excellent time to buy into this stock and get in for the long term ride!
I am thinking that this is going to be a great company to get into for a long term investment.
Lets try and get more activity on this board! This company is solid. I can't wait for financials to come out mid-September!
Looks like this may be the beginning of a climb back to the numbers we saw about a year ago. I think that the while some may not have liked the merger, they will like what it does to the company's bottom line.
You are right, it doesn't mean that they are going to be issued... but why wouldn't Mark give us some sort of idea as to why the A/S was increased? The way I see it, if it was something good, Mark would tell us... if it is something bad, we will slowly find out as more and more shares are being released. Everything is speculation unfortunately, but the way this is being handled leads me to believe we are getting diluted pretty bad.