MUNSON GEOTHERMAL <MGEO.O> VALUES PROJECTS
Munson Geothermal Inc said power
plant projects under development in Nevada have a completion
value of about 70 mln dlrs.
    The company said an appraisal was conducted by Marshall and
Stevens Inc.
    Munson said its financial adviser, Samuel Montagu Capital
Markets, called for the appraisal. Montagu is to assist Munson
in raising up to 20 mln dlrs of additional financing to
complete existing installation at Brady Hot Springs, Nev. and
create a new geothermal generating facility at Black Butte,
Nev.
    Munson said it and its partners have invested more than 9.0
mln dlrs in the Brady project, a 9.7-megawatt facility that was
appraised at a market value of 28.5 mln dlrs upon completion
based on the income approach.
    Munson and partners have 30-year power sales contracts with
Sierra Pacific Resources <SRP>.
 Reuter
