03:47 PM EST - Magma Energy Corp. : said it has signed an agreement with Geysir Green Energy ehf or GGE to acquire all of GGE's stake in Iceland geothermal company HS Orka hf resulting in Magma's stake increasing to 98.53%. HS Orka currently produces 175 megawatts or MW of geothermal power and 150 MW of thermal energy for district heating, and has near-term expansion plans that would increase its power production to 405 MW by 2015. Magma Energy Corp.
shares T.MXY are trading down $0.06 at $1.41.
