Hi Pat: A friend of mine says that his broker has strongly recommended him to invest in Americas Energy Company. He says the company is building up coal reserves in order to become one of the largest coal producers in the world. He was told the company had great potential and its share price was on its way to $20.00 U.S. Before deciding to invest in this company, I would like to have your opinion. Thank you in advance.
Americas Energy Company, $2.60, symbol AENY on the Nasdaq bulletin board (Shares outstanding: 53.5 million; Market cap: $139.2 million), aims to build a portfolio of energy projects in the U.S. and Canada. In late 2009, Americas Energy changed its name from Trend Technology Corporation when it bought Americas Energy Company.
Americas Energy is now starting to produce thermal coal (used for power generation) from a surface mine in Kentucky. As well, it is exploring for metallurgical coal (which is used for steelmaking) at a project in Tennessee. The company is also considering buying several other coal projects, as well as an oil-and-gas project in southeastern Kentucky. Americas Energy has not yet reported any revenue.
The outlook for coal is positive, and Americas Energy’s properties are all in established mining areas near ready markets.
However, whether the company can add value to the properties it’s buying is uncertain. Moreover, it plans to grow through an aggressive acquisition strategy. That adds considerable risk.
We…
Privacy Policy and Terms of Use
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Changes to this Policy
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