Let’s assume that the world does not end on 12/21/12. The global population will continue to need energy and the cleaner, the better. Solar and wind power are not reliable enough to take up the slack. Nuclear and natural gas generators are scalable. In addition, geothermal will account for a slice of the pie. It will benefit from carbon credits as the globe taxes the polluters.
I listened to an interview with Ross Beatty, the CEO of Magma Energy Corp. Recent performance was reported: http://www.magmaenergycorp.com/s/NewsReleases.asp?ReportID=400105&_Type=News-Releases&_Title=Magma-Energy-Corp-Announces-Third-Quarter-Results Beatty’s past performance is impressive and if he performs, this stock has notable upside potential in the long term. I like to buy stocks on the “dip” and this stock can’t get much cheaper. MGMXF is the symbol for U.S. based purchases.
This junior energy stock is only for those who can risk a loss of their entire investment. Oil is a depleting resource but geothermal isn’t. Developing geothermal resources around the world as a credible player should provide a stable “annuity” of cash flow and revenue growth. Based on the financials and the management interview, I’ve decided to buy some shares of this “green” energy company.
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