Here is a blerb from Casey Research.

BUY Though a relatively small industry, the geothermal sector has been quite active of late, with players increasing their stakes in projects through increasing existing interests and acquisitions. The big news, and good news for us, was Ram Power’s intended acquisition of Sierra Geothermal, announced in late May.

That acquisition is slated to be an all-stock transaction of approximately 11.125 million shares – an arrangement that allows Ram Power to keep all its cash intact. Ram’s net cash per share is a healthy 0.60 (0.56 after the acquisition), which suggests it’s well funded to continue to drill and monetize its existing land holdings.

As for assets, Ram’s project count increases with the acquisition from seven to 24 megawatts (MW) and P90 reserves from about 600 to 979. (P90 reserves mean a 90% probability that the value is accurate.) So we’re feeling pretty cheerful to have holdings in RPG under C$3.00, and wouldn’t mind adding to our position. Meanwhile, we’ll keep tabs on management as it continues to grow the business through acquisitions and organic growth.

Deno G.