Here's why I speculate that it's showtime. Yesterday, Drax was on the Agenda at the Port of Baton Rouge Committee meeting for their bond issuance. Just a mere few hundred million dollars to build pellet facilities for Drax. I don't know the outcome of the Committee meeting vote, but the fact that they've only spent the last year working to get to this point, I'd bet my shares in the company that it passed the Committee yesterday. For those who aren't familiar with how government works, Committees usually comprise of a few members of the overall Board of Directors and field or work on the details of what eventually goes to the entire Board. Assuming this did pass committee, I would expect to see this on the agenda for the Board meeting on September 26th. The agenda isn't out yet, but check on it early next week on the Port's website and I'd bet it will be on there (remember I found out Drax is "Baton Rouge Transit LLC" according to the Lousiana Secretary of State so this name is what you will see on the agenda).
Now, what does this have to do with BMSPF?? All of the circumstantial evidence has led me to believe that Drax and BMSPF are joined at the hip. I have no proof and no insider information, but A LOT of circumstantial evidence. My guess is this bond issuance for Drax is also the same bond issuance for BMSPF. Raising this capital is the key to getting what I believe both Drax and BMSPF have been waiting for before breaking ground at the Port (Notice Drax has started construction of their pellet plants up river, but hasn't started work at the Port. Coincidence?? I think not.) Anyway, as far as showtime. I think we all need to mark September 26th on our calendar. We probably won't hear anything that day (since the meeting is at night), but shortly thereafter. Stay tuned.
