News
Nov 23, 2009Sierra Geothermal loses slightly less money in 2009 Q3 compared to 2008
VANCOUVER, B.C. - Sierra Geothermal Power Corp. (TSXV:SRA) reported Monday a loss of $566,070 in the third-quarter, down slightly from a loss of $571,949 in the same quarter last year, citing a decrease in stock-based compensation and efforts to reduce expenses.
The loss per share of less than a cent remained the same as last year.
The company also announced it enlarged its estimated minimum megawatt capacity for its Silver Peak geothermal project located in Nevada.
“With our positive exploration results, our recent financings and our U.S. government grants, we are confident that we will achieve our goal of having 50 megawatts of total capacity at the bankable feasibility stage by the end of next year,” Gary Thompson, Sierra’s president and CEO said in a statement.
Sierra is a Vancouver-based renewable energy company focused on the exploration and development of sustainable geothermal power, with projects in Nevada and California.
Shares in the company closed at 30 cents Monday, down 1.61 per cent or half a cent.
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