Author Topic: AT - Atlantic Power Corp  (Read 22770 times)

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Re: AT - Atlantic Power Corp
« Reply #100 on: January 12, 2018, 09:36:26 AM »
It is Mangrove proposing this option and not the company or a fund that has held AT shares for a few years now and likely fed up with the lack of share price appreciation.

If their power plants are used by blockchain mining so be it. It would be another industrial user to add to their clients list. The Chinese are apparently cracking down on bitcoin mining since it consumes a lot of power and they consider it not a key goal unlike AI, robots and EV.

If I recall properly from a recent article, the worldwide consumption is already at 0.17% which in my view is enormous for an activity that creates nothing. In other words, if the solving of these complex math equations was helping to solve some of the world's problems in parallel then, it could amount to something. That is not the case.

Even gold mining is useful to a degree as it is essential in many applications. So the capital and energy spent on mining gold is not entirely devoted to creating a store of value.

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doc75

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Re: AT - Atlantic Power Corp
« Reply #101 on: January 12, 2018, 11:04:25 AM »
Atlantic power released the following this afternoon:

Atlantic Power Corporation (NYSE: AT) (TSX: ATP) ("Atlantic Power" or the "Company") today released the following statement in response to news inquiries about an amended Schedule 13D filed earlier today by the Company's largest shareholder, Mangrove Partners and certain affiliated entities (collectively, "Mangrove"):

On January 10, 2018, management of Atlantic Power had a conference call with Mangrove, at Mangrove's request. During the call, Mangrove recommended that the Company explore commercial opportunities for those power plants that are currently not operational, those that have Power Purchase Agreements ("PPAs") scheduled to expire in the next few years, and those that may have excess power available for sale. The Company has had an active commercial effort with respect to these plants for some time, including pursuing potential alternative uses for existing sites and commercial arrangements with existing or new customers. The Company welcomed Mangrove's input and their interest in potential co-investment with the Company. During the call, Mangrove mentioned several types of businesses as potential areas of new customer demand. One area mentioned was cryptocurrency mining and related businesses. Although the Company may evaluate that sector, as it would other potential businesses, there are no ongoing discussions with cryptocurrency miners or related businesses or with Mangrove related to that sector. The Company would take a cautious view of counterparty credit risk for any such businesses.