Mirant Corporation (MIR) Message Board

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Gold/Mining/Energy : Mirant Corporation (MIR)

MIR 23.83

+1.8%

Jan 2 9:30 AM EST

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To: Alex Chilton who started this subject	2/13/2002 8:46:04 PM
From: KyrosL	of 903

online.wsj.com Mirant Burn Rate $50M-$150M Per Month, Says CEO DOW JONES NEWSWIRES HOUSTON -- Mirant Corp. (MIR) President and Chief Executive Marce Fuller said Wednesday the company is burning through $50 million to $150 million per month. At a news conference in Houston, Fuller said the burn rate is the difference between the company's construction expenditures and income. "Our construction program is costing $150 million to $200 million per month," Fuller said. "We're taking in $50 million to $100 million a month. That burn will drop as early as March as plants come on line. We'll bring over half of them on line before summer." Mirant was hit hard by the impact of Enron's (ENRNQ) collapse, leading some observers to question its long-term liquidity. On Jan. 30, the company said it had $750 million in cash and available credit. Tuesday it closed the sale of its Bewag Unit in Berlin, which netted the company $1 billion. The company now has on hand about $1.75 billion, said spokesman James Peters. Mirant's common stock closed down 33 cents Wednesday at $10.02 a share. -By Erwin Seba, Dow Jones Newswires; 713-547-9214; erwin.seba@dowjones.com Updated February 13, 2002 6:25 p.m. EST ----------------------------------------------------- Seems to me that the company is comfortably self-funded at this point. Like I said before, almost a sure thing, if you buy it at around $10 per share.

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