Bachman Comments on Implications of First Solar (Nasdaq:FSLR) Land Purchase From Ausra
Source: http://feedproxy.google.com/~r/smallcappulse/feed/~3/Etf8pX5wqto/Posted on Friday, November 6th, 2009 | In Investing Lessons, Small & Micro Cap
November 6, 2009 ndash; Analyst Comments ndash; Pacific Crestrsquo;s Mark Bachman commented this morning on First Solarrsquo;s (Nasdaq:FSLR) land purchase from Ausra which he says mitigates risk for its 550MWac Topaz Project.
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Environmentalists continue to battle with large project developers, and the Ausra parcel will give First Solar more flexibility in placement of solar arrays from land covered by the Land Conservation Act of1965 to createnbsp; additional wildlife corridors to appease the environmentalists
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; The purchase will also enable faster permitting
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Profitability impact to the Topaz project should be nominal ndash; even at $4,000/acre, at $3.50/Wdc the project is worth almost $2.4 billion. A $3 million impact on the cost of the additional land would impact gross margin by less than 0.2%.
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