The
Three Months Ended | Six Months Ended | |||
(Unaudited per share amounts) | As Reported | Amended | As Reported | Amended |
Net income per share – diluted | 0.59 | 0.48 | 1.11 | 0.91 |
The foregoing change is in respect of a non-cash item and has no impact on the Corporation's operations or financial position.
M2 CCGT PROJECT UPDATE
MAXIM is pleased to report that the Milner 2 (“M2”) combined cycle gas turbine (“CCGT”) expansion is progressing on schedule and on budget. Recent milestones include completion of pilings and a successful foundation pour for the heat recovery boiler. At this time, the Corporation continues to forecast an estimated project cost of
DEERLAND DEVELOPMENT PROJECT
During the second quarter of 2021, MAXIM was denied an extension of the 190 MW Deerland permit by the
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This press release contains forward-looking statements and forward-looking information (collectively "forward looking information") within the meaning of applicable securities laws relating to MAXIM's plans and other aspects of MAXIM's anticipated future operations, management focus, objectives, strategies, financial, operating and production results. Forward-looking information typically uses words such as "anticipate", "believe", "project", "expect", "goal", "plan", "intend", "may", "would", "could" or "will" or similar words suggesting future outcomes, events or performance. The forward-looking statements contained in this press release speak only as of the date thereof and are expressly qualified by this cautionary statement. Specifically, this press release contains forward-looking information concerning, among other things, the expected completion date of the M2 CCGT expansion, the current cost estimates and estimates for commencement of commercial operations for the M2 CCGT expansion and MAXIM's intention to recognize a write down relating to its Deerland project.
A number of risks and other factors could cause actual results to differ materially from those expressed in the forward-looking information contained herein including, but not limited to, accounting rules and standards; weather, regulatory approvals, liquidity, interest rates, the availability and cost of financing, labor and services (including costs), the impact of increasing competition, that the costs to complete M2 CCGT expansion will be higher than anticipated, and the Corporation's ability to access capital, including under its current credit facilities or otherwise. With respect to forward-looking information contained herein, the Corporation has made assumptions regarding, among other things: current accounting treatments with respect to Deerland; that MAXIM will have continued access to funding to financing for the completion of the M2 CCGT expansion; the scope and design of M2 CCGT expansion, that no change orders will be rendered in respect of the M2 CCGT expansion, the timely receipt of any required regulatory approvals for the M2 CCGT expansion and the ability of the contractors for the M2 CCGT expansion to obtain qualified staff, equipment and services in a timely and cost efficient manner to deliver M2 CCGT expansion on the timeline contemplated by its contracts governing the same (including as a result of COVID-19 or otherwise).
Management has included the forward-looking statements above and a summary of assumptions and risks related to forward-looking statements provided in this press release in order to provide readers with a more complete perspective on MAXIM's future plans and operations and such information may not be appropriate for other purposes.
MAXIM's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that MAXIM will derive there from. Readers are cautioned that the foregoing lists of factors are not exhaustive. These forward-looking statements are made as of the date of this press release and MAXIM disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
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