Today our play on Green Energy Resources (GRGR.PK) is up 33%... in one session. Who needs options?
Anyway, here's what's going on...
Great Britain's energy secretary just announced the construction of the largest wood-biomass power plant in the world. Here are the details...
"Great Britain's Energy Secretary John Hutton approved the largest wood-based biomass plant in the world last week. The 350 megawatt plant will be operating 24/7, 365 days per year on wood energy power. The Secretrary noted, "The wood biomass will be supplied from the United States.Considering that GRGR recently opened a satellite office in London and is pushing aggressively into the European market for wood biomass, this could be a very good omen indeed...
"Green Energy Resources is the only current US exporter of wood biomass energy that can meet present import and environmental standards in the United Kingdom and Europe."
I must say, however, that the company's press releases are sometimes as obtuse and hard to read as tealeaves. Nevertheless...
Good trading,
James
3 comments:
I'm having a bit of trouble parsing your commentary on GRGR....isn't the 33% today the same 30.7% it gained and then immediately gave up the last time you wrote about it? It's just bouncing back and forth between 12 and 16 cents on incredibly thin volume (considering ~36 million shares outstanding). Yahoo finance provides no key statistics or company profile, no market cap, no balance sheet or income or cash flow statements...all of which are likely available directly from the company, but what about it is compelling enough to warrant more DD if the fundamentals aren't even available through the standard outlets?
This is a great point - the company yoyo's up and down 30 points per session, practically.
It does move on news...
And you can get financial results. Here's the un-audited financials for the past 2 years, and this year CEO Joe Murray promises to provide audited financials for the first time.
http://www.greenenergyresources.com/pdfdocs/GreenEnergyResources2006Financials.pdf
Bottom line, however, I agree that this stock - and all other OTC stocks - are speculative ventures in the extreme.
I do like GRGR quite a bit. I think they could be onto something big... the commoditization of wood pulp as fuel. But time will tell.
Best, James
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