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Potential Biomass & Wood Pellet Project in NC
Last weekend, my wife and I made a quick stop in Laurinburg, NC on our way back from the coast. The Nature's Earth facility is indeed quite a bit larger and more secure than I expected. It was Sunday and there was no one around to question or let me in, but I was very surprised at what I saw. And based on the info that's been released, this is prior to the expansion and production upgrades scheduled to begin by the start of next year.
So regardless of how "serious" 3Pow's agreement is with GreenWorld, and the profitability of production and operations, the plant and facility seem quite legitimate. As always, the money is the key - $16.5m for the takeover of the facility (plus $5.5m for upgrades) with a total of $75m from "U.S. and Middle East investors."
Has this been secured yet? Who knows, just a crap shoot at this point IMO, but I thought I'd share what I know.
I've been in contact with Toby over the past few weeks and he and I initiated the call together that rookie mentioned. No doubt it's him, and he wants to see the company grow and succeed just as much as we all do! But I wont put words in his mouth, so you can email or PM him again and Im sure he'll get back to you when he can.
He is only an advisor to the board and not a director himself, but I would bet his advice pulls a lot of weight, if you know what I mean.
I'm with you on approaching management, of course. PM coming your way shortly. And I'm willing to take whatever role is needed in collaborating as well. Hope all is well!
Case in point: Are we dealing with a cultural application of business practices, or very different definitions of transparency and trust?
I see what's wrong now - the file name of the pdf is relative to the current date instead of being static like the link - so the link you copy one day won't work the next unless you manually change the digit.
Gotcha, thanks. I had it up last night but it refreshed on me and wouldn't come up now. A lot more detailed on the project now that its closed and everything. Good stuff.
Is it just me, or did they take the newsletter down?
Haha, I have much better things to do with my time than count shares because I got bored. I know it doesn't necessarily help the sentiment around here though.
Only 25 have responded but that's sans some major ones...like a certain dog, for one. Haha
Collective Share Count: 1.57 million
Avg cost at .$62 with the median in the $.50s.
Please add your holdings to the list or PM me if you haven't yet.
Share Count - Enter Yourself or PM me.
Please open this public Google doc and enter your share count and cost basis (if you know it), or just PM me.
I know some have "lightened the load," while others have added substantially. I'd like to know where we stand collectively. Plus, those that post on this board are not the only ones who have invested interests ;)
The acquisition of the Pellet Plant looks to have initially cost $16.5M, and an additional $5.5M is being used for the upgrades to increase output. There was a fire or two at the plant in March before GreenWorld acquired it, so I'm sure there is/was that to deal with too. So maybe a few more mil when its all said and done: $22M-$30M for the pellet plant out of the $75M total.
But at the plant's expected output of 240,000 tons of wood pellets per year for an estimated $40,320,000 in revenue per year (link 2), I'd say that's some pretty darn good ROI once this thing gets going!
I'd say you are spot on there. International and its subs (ie Sudamerica) have no bearing on 3Power's subs and their projects.
Good find, Kfa! It looks like it was recently approved. I had combed through some of the approval docs back in December. I had also sent Mr. Banto an email asking whether a certain project agreement mentioned in a 3Power filing (PAL 1 or 2) was actually Punta Chome or Raki. Unfortunately, his response was:
"Mr. Duarte,
There are no contracts between Seawind and 3Power for any projects in Chile and all similar enquiries should be addressed directly to 3Power.
Regards
Marcelo Banto Christen
Ingenieria Seawind Sudamerica Ltda."
Granted, I knew he wouldn't tell me much, and that was back in Dec anyway, and plenty has happened. Heck, 3Power could just "inherit" those projects for all we know. But I would not assume any connection with 3Power **unless** Wilson & Adams have ceded their firm grasp on International & Sudamerica.
Bout bloody time to sign something, haha :)
Good to see ya here kfa :) I'm pretty sure Wilson is older, like 80. Adams is the one in his 40s I think, haha.
Thanks man! Yeah things are great on all fronts, plus we're southerners now :) Still super busy, though. How's big oil these days?
I say it's about time for the May newsletter update...
Sounds reasonable enough :)
For my own sanity: Our hydro project really does exist!
Nothing new or newsworthy here, just research. I found an article from 2/23 on the Albanian METE website with a speech by the Energy Minister Nasip Naço. He references many of the ongoing projects, and ones that are about to be opened up for concession.
"Project for the construction of hydropower cascade on Saddle River with an installed power 97 MW and an investment worth about 110 million Euro." Saddle = shalë, aka shala. 75% of 127.6 = 95.7MW. Close enough ;)
And maybe some wind too?
"Wind Energy Parks are an important alternative source of electricity, where the installed after construction in the country is expected at around 1500 MW and investment of about 1.5 billion euros. There are promises in the wind, but until now have been granted 15 authorizations for the construction of these parks."
http://www.mete.gov.al/news.php?idm=1313&l=a
At least they have the directors list updated and current as of a few days ago on 3/13.
Nevada SoS 3Power Listing
Thanks for the message, steve. I hope all is well for you and those still on the board here. I dont have the luxury of free time anymore since I've just transitioned my career. But I'm still holding. Would really like a company update or a response to my emails though...
$8.85 pps logical valuation with $1 billion in non-dilutive financing, as of the Dec 31 10-Q numbers which include current shareholders equity/deficiency and OS count. Does not take loan/credit terms & interest expense into account, or tvom.
I did the math months ago to wrap my head around it, and just updated the numbers...ya know, to be ready just in case ;)
I'm still here, Major! Working now, so it's hit or miss for me on the board. And as nice as it was to see that "$400 mil" that will be bank financed for the 100MW solar project, I agree with you - It'd be helpful to see ink on something...
And technically, I'm getting "paid to wait" for the last 15% of my shares to go long-term, haha. Small, but will be worth it later :) PSPW
Its good to have ya here, wakl!
It's an "E," but I don't envision PSPW getting that again. They've been pretty on top of things. If the 10-Q is submitted within 5 days of the NT late notice, it's still considered on time. So I'm not exactly sure when the "E" would be added. Based on the market cap, 3Pow is a standard, or small non-accelerated filer.
https://www.merrilldirect.com/cps/rde/xchg/merrilldirect/hs.xsl/edgar-2012-sec-filing-deadlines-and-holidays.htm
"When a company that trades on the OTC Bulletin Board (OTCBB) becomes delinquent in its reporting obligations with the SEC (for example, it submits a required filing late or in an incomplete form), the letter “E” will be appended at the end of the company’s stock ticker symbol. After the “E” is added, the company is given 30 calendar days (60 calendar days for most foreign companies and domestic banks), known as the “grace period,” to become current in its reports. If the company files complete required reports during the grace period, the “E” will be removed. If the company fails to correct its deficiency, the company’s stock symbol will be removed from trading on the OTCBB."
www.sec.gov/answers/eadded.htm
Remember the fiscal year end was changed to March 31, and this upcoming report is for the period ending Dec 31. So unless I'm thinking about it wrong...
NT-10Q is out, so the 3Q is late.
Monday the 20th will be the due date I'd imagine b/c of the 5 extra days...
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8408894
Music to my ears! :)
"3Power continue to complete its target capacity of 3GW projects pipeline."
Nice addition to the BOD, I'd say. I really do enjoy some of the phrases in these PRs, like a steel mogul of a parent who "still runs his empire." Haha, good stuff - now start building with that empire!
Like Schekin said, Seawind & James Wilson bring so much more to 3Pow then I believe Hany Salem does. No doubt you've seen some of the vast Seawind DD that's been posted on the board here. At the same time, we've seen revenue from the Seawind entities decrease - don't let that throw you - as they've prepared to become an electric utility provider. Much more is coming as projects are announced, connected to the grid, and the electricity is sold. Seawind is verifiably solid.
Yes, Hany Salem is part of the back story as a "connections" guy. He is/was with Rudana and Capital Trust Holding, both mentioned in 3Pow's past SEC filings. Then there's Viewpoint which helped set up the merger with Seawind, and they are either a vehicle of Falak Investments (controlled by Salem), Falak Holding, or Mr. Falaknaz himself. So other than facilitating the merger and producing the likely connection to the Albanian project, I'm not sure what Salem and his companies have really accomplished. They do have shares, however, so it's good to see you alert :)
Hany Salem's publicly visible entities: www.moneyhouse.ch/en/p/salem_hany-4907053/connections.htm
Yeah, I would guess it's gotten toward 200 mil, but we don't have any way to verify that yet.
Stevesox, I'm glad that you are able to keep buying. I wish I had some disposable income at the moment, heh.
But IMO, there is one "fact" that I don't believe any of us can really have straight, and that is the wildcard of Hany Salem & Rudana. They keep things hidden, and often on purpose. While most of the "due diligence" available points towards great things in the future AND a currently undervalued stock, you have to admit that there are plenty of things about 3Power that you either don't know or can't be sure about.
Things do change. Remember the 2nd half of 2011? We didn't know what was happening with our company for half a year! My point is, try writing down every bit of DD you know & can find in chronological order as detailed as you can, and look at what has progressed (or regressed). What seems to be a good thing right now, very well might not be in a month - or it might be even better - we don't know yet.
I'm an optimist by nature, and I'm very positive about what is soon to come, just like you are. Yeah maybe I'm a little jaded from "last time," but I'm much wiser too. And I've spent many hours researching Salem/Rudana/Falak, with mixed conclusions. So I keep my eyes & ears tuned, and my trigger finger sits just above the sell button, because I for one know how quickly positive DD has the potential to turn into lost profit.
It's a valid concern, especially with the lack of transparency regarding Rudana/Falak in the past. But the conversions & options around the .50 price are positive IMO. Falak holds a lot of shares themselves, and are not looking to dilute this thing into the ground. Clearly there are cash flow issues, but it doesn't seem that they have decided to go "all in" by using existing cash or new debt to finance operations...at least yet.
I'm suspecting that project financing will include both debt and equity. Just a hunch.
Beats me. What did he bring when Rudana was still an entity? The hydro connections? I think he's always been affiliated with Falak in some way. I don't like that he's an advisor to the board, but so far things seem to be alright...
For sure! All the other names have been released in filings or PRs, so Salem was the only "surprise," haha. I have a hunch that something big comes next week. Nothing to back that up though :)
Nice to see some updates to their website. I knew Hany would pop up somewhere...The rest look pretty solid though.
http://www.3powerenergy.com/about3power-management.html
NEWS! I guess the PM/AH PR timing can be thrown out the window - any time is 3Pow time :)