THORIUM POWER LTD – Announces Financial Results
Thorium Power Ltd. (OTC BB:THPW) is trading up 5.66% following the Company’s August 14, 2008 update by, “the leading developer of non-proliferative nuclear fuel technology and provider of comprehensive advisory services for emerging nuclear programs”, for the three months ended June 30, 2008.
Revenue for the three months ended June 30, 2008 was $4.3 million, up from $3.8 million in the first quarter. Operating loss for the three months ended June 30, 2008 was $0.6 million. Operating loss for the second quarter included approximately $1.4 million of stock-based compensation. Net loss for the three months ended June 30, 2008 was $1 million. Net loss for the second quarter of 2008 included a markdown of approximately $0.4 million on auction-rate securities to fair value. As of June 30, 2008, the company had approximately $5.2 million of cash and cash equivalents and $2.6 million of working capital.
2008 Revenue Outlook — For fiscal year 2008, the company anticipates revenues in the range of $22 million to $27 million. To read the entire story, click here:
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NEVADA GEOTHERMAL POWER INC – Issues Stock Options
Nevada Geothermal Power Inc. (OTCBB: NGLPF) is trading flat following the Company’s August 14, 2008 announcement that incentive stock options have been granted to two members of NGP’s board of directors to purchase 100,000 common shares of the Company at an exercise price of $1.08 per share for a term of 5 years. Common shares which may be acquired upon exercise of the options shall be subject to a hold period which will expire on December 14th, 2008. To read the entire story, click here:
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W2 ENERGY INC - Applies to DOE for Clean Coal Funding
W2 Energy Inc. (Pink Sheets: WTWO) is trading flat following the Company’s August 13, 2008 announcement that it will submit its Coal to Liquid technology to the DOE CCPI (Clean Coal Power Initiative) for funding. The CCPI is seeking to accelerate the commercial deployment of advanced coal technologies to supply the United States with clean, abundant and affordable energy. The funding will provide up to 340 million dollars to be distributed among multiple selected recipients. To read the entire story, click here:
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CALPINE CORPORATION – Clarifies SEC filing
Calpine Corporation (NYSE: CPN ) is trading up 3.62% following the Company’s August 14, 2008 clarification regarding their filing yesterday with the Securities and Exchange Commission a Form S-3 Registration Statement. The registration statement was required to be filed after the Company’s successful emergence from bankruptcy pursuant to a registration rights agreement entered into in connection with the Company’s plan of reorganization.
About Calpine
Calpine Corporation is helping meet the needs of an economy that demands more and cleaner sources of electricity. Founded in 1984, Calpine is a major U.S. power company, currently capable of delivering nearly 24,000 megawatts of clean, cost-effective, reliable and fuel-efficient electricity to customers and communities in 18 states in the United States. Calpine owns, leases and operates low-carbon, natural gas-fueled and renewable geothermal power plants. Using advanced technologies, Calpine generates electricity in a reliable and environmentally responsible manner for the customers and communities it serves. To read the entire story, click here:
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CAMECO CORPORATION – Announces 2nd Q results and Debenture Redemption
Cameco Corporation (NYSE: CCJ) is trading up slightly following the Company’s August 14, 2008 report of second quarter 2008 adjusted net earnings (1) of $142 million ($0.39 per share diluted), 30% lower than in the second quarter of 2007. This was due to lower earnings in the uranium, fuel services and electricity businesses. In our uranium business earnings were adversely affected by lower sales volumes, which more than offset higher realized selling prices. In addition, lower sales volumes in our fuel services business and reduced output at Bruce Power had a dampening effect. In the second quarter of 2007, uranium deliveries were unusually high, representing 35% of that year’s total.
Additionally Cameco announced that it will redeem all of the outstanding 5% convertible subordinated debentures due October 1, 2013 (the “Debentures”). The Debentures will be redeemed on October 1, 2008 (the “Redemption Date”) at the redemption price equal to the outstanding principal amount of the Debentures plus accrued and unpaid interest thereon up to the Redemption Date (“Redemption Price”). To read the entire story, click here:
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MECHANICAL TECHNOLOGY INCORPORATED – Announces 2nd Q Results
Mechanical Technology, Incorporated (NASDAQ: MKTY) is trading off 1.18% following the August 14, 2008 announcement that the company which is “primarily engaged in the development and commercialization of Mobion® off-the-grid portable power solutions through its subsidiary MTI MicroFuel Cells Inc. (“MTI Micro”) and in the design, manufacture, and sale of test and measurement instruments and systems through its subsidiary MTI Instruments, Inc. (“MTI Instruments”),” of its financial results for the quarter ended June 30, 2008.
In connection with second quarter results, Peng Lim, Chairman and CEO of MTI commented, “At MTI Micro, we signed agreements with two consumer electronics OEMs – NeoSolar and a global Japanese consumer electronics company – an achievement that, based on public announcements, has not been matched by any other company in the micro fuel cell industry. In preparation for the anticipated commercialization of Mobion® in the second half of 2009, we continued to expand our global operations by setting up a representative office in China to develop relationships with manufacturers and low-cost component suppliers, and we received further funding from the Department of Energy for the development of manufacturing techniques for our Mobion® platform. MTI Micro also achieved important life testing metrics, and unveiled a GPS prototype capable of providing three times as much energy as GPS devices powered by four disposable AA batteries. At MTI Instruments, as a result of soft global economic conditions, we are now projecting a sales decrease of between 10 to 15% for the year; however, with a clear focus on the future, we continue to work on new product introductions and marketing efforts to position MTI Instruments for increased sales when general economic conditions improve. In the second quarter, we unveiled the PV1000, a thickness measurement system for the rapidly growing solar industry. The PV1000 can be incorporated into solar cell production lines to help manufacturers quickly determine quality control issues, saving them time and money.” The entire report can be read by clicking here:
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