Investor Soiree Butler Rurelec RUR.L

RurelecRurelec PLC was established to develop, own and operate power generation capacity in Latin America. Rurelec is managed by a team with a strong track record in developing power projects worldwide and with considerable experience in the electricity sector in Latin America. Rurelec's main business consists in the ownership and development of power generation facilities on the national grid and in isolated areas, selling electricity on commercial terms. The Company is now a significant power generator in Bolivia and Argentina.
Take me straight down to the chat Rurelec is trading below the moving 50 day average and below the moving 200 day average on below-average volume.
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  • Repayment of Radix Loan (in default) by broomfielder
    Mon, 17 Aug 2015 17:25:00 GMT

    Confirmation that this Facility has now been repaid is another positive step for Rurelec as it moves toward longer term stability.

    Whilst the details of the negotiated settlement are not disclosed in the RNS there will presumably be some fairly hefty penalty sums included in the final figure.

    Nonetheless I think most will agree it is good news - now we need a roadmap which would outline where exactly our Company is headed and within what timescales etc.

    At the very least another more detailed Company communication on the way ahead would be as welcome as it is overdue.

    B By broomfielder
  • Re: Hands UP ! by TheGreatGame
    Thu, 23 Jul 2015 07:21:00 GMT

    Chill, have a margarita.. By TheGreatGame
  • Re: Hands UP ! by lambrini girl
    Fri, 17 Jul 2015 07:11:00 GMT

    good news..hotting up.. By lambrini girl
  • Re: Hands UP ! by lambrini girl
    Thu, 16 Jul 2015 10:19:00 GMT

    machine short target hit now a BUY.. By lambrini girl
  • Net worth by scotguyinsuffolk
    Wed, 15 Jul 2015 16:35:00 GMT

    The market is now saying this company is worth less than 10 million pounds , and yet last year it received a cash payment from Bolivia of 19 million pounds ???? Even if we ignore all the business in the meantime ....how has 9 million disappeared ????

    Any ideas , guys ? By scotguyinsuffolk
  • Re: Hands UP ! by lambrini girl
    Wed, 15 Jul 2015 11:34:00 GMT

    >>SELL...50% off sale here..2p target<<>>>Hi LG great to have you on board, but please do your research before you post utter tripe,<<<BANG ON!!....enjoy the tripe LB..
    By lambrini girl
  • Value of Rurelec by Leicesterboy
    Wed, 15 Jul 2015 11:30:00 GMT

    We are now worth £11.23 million !
    I think the 2 Turbines for one of the projects cost £5 million !
    They need to get there derierres moving, there is more going on than we know.
    LB By Leicesterboy
  • Re: AGM Result by Leicesterboy
    Tue, 14 Jul 2015 20:50:00 GMT

    I tend to agree, I think the deals on the Sale of the Peruvian assets is done, so they struck quickly to protect themselves Sterling has paid 9 pence per share !
    LB By Leicesterboy
  • Re: AGM Result by swooped
    Tue, 14 Jul 2015 17:38:00 GMT

    Well as we are all underwater here I feel at this stage it better to be the eternal optimist, only if truth be told I have no option, but to my mind a few things could be occurring; 1. an MBO or 2. in my belief something more positive. Let’s assume for one minute that Sterling had had enough of Peter Earl and his continual failures, what might I do in that situation, well as the controlling shareholder the first would be to get rid of the lead offender i.e. Peter and if the assets were, and are worth as much as we were led to believe and I guess they are, Arica is certainly a great asset then the next thing would be to clear out the board, tie up a partnership with a third party, and rerate the company on great assets and a partnership deal with clout. This would also be achieved by Sterling relinquishing a large shareholding. It is of course all speculation but an MBO would be of no use without the financial backing of a major partner prepared to invest. At this stage I am prepared to hang on in, with a small float any selling now would be pointless as the sp would be obliterated. Sterling are not stupid they have their roots in banking, Arthur Anderson and all the top names, they will I expect know what they are doing and I find it hard to see how they can stitch up the shareholder without stitching up themselves, being as it were so deep in the mire themselves, they are after all shareholders as well and at far far higher prices than the sp shows today. By swooped
  • Re: AGM Result by daw2905
    Tue, 14 Jul 2015 17:14:00 GMT

    Thanks LB

    Dw (another Leicesterboy!)
    By daw2905
  • Re: AGM Result by Leicesterboy
    Tue, 14 Jul 2015 16:41:00 GMT

    I do tend to agree Sterling are throwing their weight around, they have a huge shareholding, and are probably fed up with the way things have gone or going !
    LB By Leicesterboy
  • Re: AGM Result by Leicesterboy
    Tue, 14 Jul 2015 16:38:00 GMT

    I have no idea, but no one seems to be selling ! and there would have been people there, I am sure all will be revealed ! Good or Bad.
    LB By Leicesterboy
  • AGM Result by daw2905
    Tue, 14 Jul 2015 16:16:00 GMT

    Hi all,

    Did anyone go along today to see what happened? Seems we have re-appointed the auditors and nothing else. I presume it was Sterling throwing their weight around, and we seem to have fewer directors now. But what is the background to all this? Can anyone shed any light please?

    Thanks
    Dw By daw2905
  • Re: AGM questions by Leicesterboy
    Tue, 14 Jul 2015 13:25:00 GMT

    Its been and gone anyone on here went to it !
    LB By Leicesterboy
  • Re: AGM questions by daw2905
    Mon, 13 Jul 2015 23:49:00 GMT

    I too would appreciate answers to those questions.
    Dw (also a lth) By daw2905
  • trades by optimist13
    Fri, 28 Aug 2015 09:02:49 GMT

    Well, the MM's must want to move the price back up now as they are actually showing the buys as buys. Can see this moving higher today on very little volume as in my view the drop down to this level has been orchestrated. However, it will 'fit in' to all of the chartist theories out there, i.e, it is at the bottom of the trading range. We shall see.
  • RE: As Kamel by optimist13
    Fri, 28 Aug 2015 07:55:15 GMT

    Spac3y, thanks for your reply. Can't disagree with anything you say and it is now up to the new BOD to start delivering. I have made my investment on the basis that I believe the BOD will indeed start to deliver. The administrative costs should come down considerably, and with the Radix loan now repaid this takes away a bit of uncertainty/downside on the share. As you say, Sterling trust are sitting on one monumental paper loss at the moment and I am sure they will want to try and remedy that as quickly as possible. I accept that the chairman has been involved all of the way through and Sterling would have been privy too the decisions being made, but the CEO tends to hold the power in many organisations, and his removal/leaving could be the catalyst for an improvement in fortunes. I am fortunate in that I am sitting on a low average here and fully expect to see a recovery in the share price to the 3.00 to 5.00p range in the near future, but I sincerely hope that things start to go right for the company and LTH see a much higher price in the longer term.
  • As Kamel by Spac3y
    Thu, 27 Aug 2015 18:48:41 GMT

    points out, the balance sheet here is litered with intercompany loans and actual tangible assets. Its not so much disputing the asset values in a sense, like every business every year, the auditors come in and their needs to be sign off on accounts (Working in a financial role for a PLC this is always a joyous occasion :) ), balances require substance and so do assets so that is not in disupte. What complicates RUR is the non deliverance, this is in effect what has hammered the price all the way down...Hell they could be sitting on a million tons of gold right now with the pics to prove it, the market probably still wouldnt believe it. Here is my concern at the moment. The IPSA rns RE:staggerd repayaments does not say to me, that $30m is coming any time soon. You could look at it in several ways...RUR has breached terms in repayment of its loan, however, IPSA doesnt want to, nor probably can or want to incur the cost and negativity of pushing this further in a legal sense. If we are sure we have the up n coming sale releasing 30m, their should be no need to stagger...Given the payment this month, payment this month, this does not as I say above suggest we have secured the 50% sale we require any time soonHopefully I am entirely incorrect, and I will be the first to come back here and say...I am entirely incorrect !. If you take a broad view, their is value in the assets, probably safely in a normal view of 4-5pbut, again, RUR has proven not to be normal in any way shape or form. Sterling are sitting on 85-90% losses, sterling have been on the inside if you will given the % of holding they have...their access to information will have been night and day above any , and I use this with a comical sense, "lowly" Pithey infact have let the previous board run the price all the way down, so they too have to take a share of the blame. 2m shares, is certainly a very decent holding optimist so I certainly hope you see a very decent return. I can be quite on the down side here as their seems so many upsides from everyone else when nothing is being delivered, much in a sense as Kamel is. That does not mean to shoot anyone down in flames, its trying to just retain a sense of balance from the usual its a rocket, multibagger, only way is upness that you see on many of these boards. So in balance, 4-5p is achievable, yes, their you go theirs the positive...on the flip...I still have this nagging feeling were eating cash, we have not got $30m banked and that in the end adds to one of two things, a cash call from the Pi or a dillution, both of which we have all seen far too much of on aim. $30m in the bank please, that is what is required, that will install confidence in the stock and allow it to move one..
  • RE: Discussion by optimist13
    Thu, 27 Aug 2015 12:50:05 GMT

    KAMEL17 - thank you for the detailed reply to my question. As you have pointed out, the financials have the usual caveats, but this is true for most companies. I accept that the company is operating in what could be termed a high risk area as far as investments are concerned, but the rewards should be greater given the increased risk. We have seen from the Bolivian fiasco that the company did not receive anything like the book value of the asset, but this was not due to the fact that the asset itself was over-valued, rather it was the company being taken to the cleaners. The company is in the process of selling some of its assets and it will be interesting to hear when the company expects to achieve this when we receive the interim report next month. As an aside, having watched the share price very closely over the past couple of months, it is my view that the price has been/is being held down. As I posted yesterday, nearly all of the trades were buys, but to the casual observer, you could be forgiven in thinking that people were selling. LTH here deserve to be informed by the Chairman what the intention of Sterling Trust is. They are clearly sitting on a huge paper loss and it is my view that the potential threat of a de-listing is weighing heavily on the share price at the moment. With a bit of luck, we may hear some concrete proposals in the next few weeks.
  • RE: Discussion by KAMEL17
    Thu, 27 Aug 2015 12:24:04 GMT

    ... have been the precursor to just such an opportunity. Kamel
  • RE: Discussion by KAMEL17
    Thu, 27 Aug 2015 12:22:05 GMT

    Optimist As you have taken the time and trouble to trawl through the Financial Statements and formed the view that the figures would stand scruitiny, I'll just give you a few things to consider. I, like you, would be minded to take the signed off accounts by GT as presenting a true and fair view at the time of signing. In that respect we're very much on the same page. I would think that no-one here could or indeed should disagree with you on that point. Notwithstanding the proberty provvided by GT, these assets are probably extremely difficult to value and those valuations may be covered by a myriad of dispensations, third party evidence (such as "indications" of values in a potential partnership agreement) and letters of rep from the Directors. The NAV is also underpinned at Rurelec Plc level by Trade Receivables of £50m as at Dec 2014 being a mixture of sums due from subsidiaries and joint venture companies. The paragrpahs below will no doubt be familiar to you. I have capitalised some words for effect. ( Note 16c) 1 Loans to subsidiaries in Chile (£6.6 million) and Peru (£11.1 million) are repayable on demand. The loans to Chile are currently non-interest bearing. The loans to Chile and Peru bear Zero per cent interest at rates. The loans Peru are EXPECTED to be recovered once the assets have been sold, which management expect to occur during 2015. The loans to Chile are CONSIDERED recoverable once the projects reach financial close and therefore no provision has been made against these loans. 2 The amounts owed by joint venture companies are interest bearing at rates of between 8 per cent and 18 per cent and are repayable on demand but are not expected to be fully received within the next twelve months. During the period the Group received $5.4 million from EdS in service of the amounts due. £8.6 million (2013 – £7.7 million) is secured by a first charge against the assets of EdS. One can always look at a Balance Sheet and determine that there is value based upon valuations. in my experience though valuations are little more than an interim guess until cash changes hands. The other very important aspect is that the recoverability of any cash based upon a project reaching "financial close" is a sizeable hurdle to navigate before any reliance can be placed upon a book value. Hopefully the assets will be realised at a premium to book value though. Any valuation figures touted by Pinnochio Earl in his dreadful RNS's should probably be taken with a sackful of salt It's probably also fair to say that the overall position in relation to NAV has not improved over the last eight months during the intervening period. I'm happy to be challenged on any of the above should you wish to do so. As for making a quick buck here - I sincerely hope that you do. Indeed, there are probably some recent investors who believed that the recent shake up at boardroom level may have b
  • Discussion by optimist13
    Thu, 27 Aug 2015 10:36:08 GMT

    Guys, I have been shot down in flames for daring to use the net asset valuation as a basis for establishing a fair value for the company. Whilst I have done my own research here and have been invested previously in RUR, I have spent a couple of hours this morning going through the accounts and the auditors repor again. My findings are that the assets by segment have been properly valued and signed off by the auditor and there is no indication that any of the asset values are deemed as doubtful. Impairment charges were taken at the year end and IMHO the accounts stand scrutiny. My question to LTH's here is what elements of the asset values do you not agree with and why have the auditors not picked up on this as well. I accept that you will never get book value in a 'fire-sale', but the company is not in that position. It appears to me that Sterling Trust have had enough of the way the company has been run in the past and are now doing something about it. For the record, I now hold 2m shares here and am not just looking to make a quick buck.
  • Sterling Trust by jeddicat
    Thu, 27 Aug 2015 09:29:27 GMT

    Swooped - Hi mate, thanks for your post. Fair to say that it is more like SterlIng is likely to offer us a fair deal for our shares if they decide, or have decided, to go back to 'Private company', vis-a-vis the £40m paid out at iii) of your piece on the subject? I have a feeling that it will all be proposed in the updatext RNS next week/month. I have been topping up, along with, but not in the quantities, of the other buyers of late, that 20k yesterday was mine! Regards
  • RE: RNS by KAMEL17
    Thu, 27 Aug 2015 08:05:08 GMT

    Thanks swooped, I never realised that and it was in my notes, so thanks for pointing that out to me. Kamel
  • RE: RNS by Swooped
    Thu, 27 Aug 2015 07:40:19 GMT

    It is also the same address of Sterling Trust

    link

  • RE: RNS by KAMEL17
    Wed, 26 Aug 2015 20:01:39 GMT

    optimist I'd guess cost saving is the reason. The change in registered office is to the same address as IPSA. As GFD said though - the real reason may be anything at all. Kamel P.S. I can be direct and somewhat uncompromising at times but please rest assured it's genuinely never meant to be personal even if at times it may appear so.
  • RE: RNS by Bannor
    Wed, 26 Aug 2015 17:35:55 GMT

    My opinion the last stop before an anonymous PO Box number & collapse been shocking here for the last couple of years....
  • RE: RNS by goodflyingduck
    Wed, 26 Aug 2015 17:29:04 GMT

    It might take Sherlock to figure that one out optimist13 ! Spac3y - the new BoD has managed to effect the sale in Peru but you are right in saying that Chile is key. They must, surely, be expecting to put that to bed at some stage, given the proposal to stage the debt repayment to IPSA and its creditor, accepting that the rest of the proceeds from Canchayllo are needed as working capital which seems to be the prevailing view. However, given the continuing erosion in the share price, it might be time for that dialogue with the new BoD Kamel, if you're still up for it. By my reckoning, all we really need to know is that it is still the new BoD's intention to deliver on the RNS's made by Peter Earle, in relation to Illapa, with RUR remaining listed on AIM. If we can get that from the BoD we should all be able to relax a little. GFD
  • RNS by optimist13
    Wed, 26 Aug 2015 16:44:04 GMT

    Rurelec, the AIM quoted independent power plant developer with operations in South America, announces that the Company has changed its registered and business office to: 7th Floor, North Tower, 55 Baker Street, London W1U 8EW. Anyone have a view as to why the change of address. KAMEL17, Spac3y - I take on-board your comments. I shall refrain from being too 'optimistic' and will await the results or further clarification from the company before commenting further.
  • RE: Reminder by KAMEL17
    Wed, 26 Aug 2015 16:32:21 GMT

    You are of course entitled to your opinion and that's to be welcomed. Notwithstanding your right to an opinion in whatever shape or form - I'm also entitled to express my own opinion. As far as i can see all you have done so far is to regurgitate your own, in my view flawed, opinion in relation to a discount to NAV multiple times together with cutting and pasting old news. You would do well to read the other posters' views on this as they have seen it all before. As for selling up- if you'd been around long enough you'd know i have a very large position here and i'd always said it was s**t or bust with this one. There are of course some game changers that could benefit holders , however, these are things are currently outside the parameters of the amounts reflected in the NAV. Without the game changers I'd suspect the NAV is little more than a mythical number Kamel