Notable Quotes
"With the LOI signed, we urge investors to bolster positions in FCU." (12/22/15) Fission Uranium Corp. - David Sadowski, Raymond James More >
"FCU is taking the right steps regardless of whether PLS is ultimately acquired or developed into a mine." (12/22/15) Fission Uranium Corp. - Heiko Ihle, Rodman & Renshaw More >
"I am quite excited about POE in 2016." (12/16/15) Pan Orient Energy Corp. - Chen Lin, What Is Chen Buying? What Is Chen Selling? More >
"BKX's Oklahoma asset has significant value." (12/16/15) BNK Petroleum Inc. - Michael Charlton, iA Securities More >
"EFR is one of the few companies in a position to write long-term sales contracts and deliver into them at several times its current production rate." (12/17/15) Energy Fuels Inc. - The Gold Report Interview with Eric Coffin More >
RPG: San Jacinto Fully Financed, Advancing on Schedule
Sean Peasgood,
Sophic Capital
(11/17/2010)
"San Jacinto on track; phase 1 expected to be online by Q211 and phase 2 by Q112. RPG expects to spend a total of $190M for SJT 1&2. SJT is estimated to generate EBITDA of $17M in FY11 and $45M in FY12. We estimate Ram Power's un-risked NAV to be near CAD$12.80 per fully diluted, fully financed share based on the company's prospects for geothermal power operations in the Americas. We continue to have a positive view on the macro fundamentals for geothermal energy given its green energy attributes, base-load nature and competitive levelized cost vs. other energy sources. Specifically in the western U.S., there is a strong appetite for geothermal power given state-enacted Renewable Portfolio Standards (RPS), which mandate certain levels of electricity required to be delivered from renewable sources by a future date. In addition, with an increasing concern about U.S. energy security, geothermal offers a highly reliable, low-cost resource that is not reliant on imported fossil fuels. We reiterate Buy rating and CAD$4.50 price target. RPG's shares are attractive at 0.5x FDFF risked NAV and 0.2x FDFF unrisked NAV. We expect the stock to appreciate as RPG advances projects. We believe the current stock price presents investors with an excellent entry point into a company with a strong project portfolio (near-term projects, fully financed) and a management team with significant experience bringing projects online."
For more independent commentary, click here: Ram Power Corp. RPG:TSX |
More Experts
"FCU's deal with CGN helps to financially and technically derisk PLS." (12/21/15) Fission Uranium Corp. - David Talbot, More >
"NXE is our top pick across all commodities." (12/22/15) NexGen Energy Ltd. - The Energy Report Interview with Rob Chang More >
"FCU will continue to explore and add pounds to what is already a world-class project." (12/22/15) Fission Uranium Corp. - The Energy Report Interview with Rob Chang More >
"EFR is well positioned to benefit from higher uranium prices." (12/22/15) Energy Fuels Inc. - The Energy Report Interview with Rob Chang More >
"FCU intends to sell $82M or 19.9% of the company to CGN Mining." (12/22/15) Fission Uranium Corp. - Jeb Handwerger, Gold Stock Trades More >