US GeoThermal Inc. is engaged in the acquisition, development and utilization of geothermal resources in the Western Region of the United States of America. As of March 31, 2008, the Company operated two power plants, Raft River Unit I in Idaho, through its joint venture with Raft River I Holdings, LLC, a subsidiary of Goldman Sachs, and a plant located in the San Emidio Desert in Nevada. GTH also has several other properties under development or exploration. Raft River Unit I commenced commercial operations in January 2008. As of March 3, 2008, Raft River Unit I sold between 9.6 and 11.7 megawatts of power to Idaho Power Company under a net 13 megawatt power purchase agreement (PPA) which expires in 2032. On May 1, 2008, the Company acquired the geothermal assets, including a 3.6 net megawatt nameplate generating capacity power plant, from Empire Geothermal Power LLC and Michael B. Stewart, located in Washoe County, Nevada.
These GeoThermal Stocks have seen some really nice climbs in the past week or so, but they should continue to climb over the next months. Although its not a true penny stock, all Alternative energy companies should have a very promising future as the globe begins to turn increasingly environmentally friendly. Which can mean gains of up 100% in the coming year or so.
US GeoThermal Inc. dropped from over a $4 high in late 2007 all the way to about $0.80 in the beginning of this year, and now it has begun moving upward again. I bought in about 50% of my position at the current price, and then I'm going to wait and see if there are any dips for me to get some cheap shares with my other 50%.
