AIM 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.

Rurelec is trading below the moving 50 day average and below the moving 200 day average on below-average volume.
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  • Up 4.54% by welloiled1
    Wed, 16 Jul 2014 15:58:00 GMT

    Hoorah…blue day at last.

    Get the flags out !!

    Welloiled1 By welloiled1
  • Mr N P - Update by goodflyingduck
    Fri, 11 Jul 2014 13:29:00 GMT

    Definitely after the w/e - it's going to take me an age and the w/e lends itself better to that kind of exercise. GFD Still a Strong BUY for me too; the fall on tiny volumes suggests that an RNS is approaching. "Tree-shaking" ! By goodflyingduck
  • Re: Mr N P by swooped
    Thu, 10 Jul 2014 17:23:00 GMT

    Welloiled, don't worry mate I am sure it will all come together shortly we just need patience which is I know hard but a necessary part of the game, otherwise one becomes another aim loser and part of the statistic of those that sold at the bottom. Lets just wait and see what the next few weeks reveals but for sure those JV's must be getting close and for the brave one hell of a price to top up at.

    Based on price and potential I have to mark this as a strong buy By swooped
  • Re: Mr N P by welloiled1
    Thu, 10 Jul 2014 15:13:00 GMT

    Mr No Profit….

    Hmmm looks like it is becoming a good name for everyone here. Gutted there has been no positive news during or since AGM in the meantime will drift downwards.

    I have alot more than 10% of my portfolio on this one. in cash terms becomes a smaller % each week…

    Come on guys…some good news please like a $30m J/V for starters!!

    Bored…bored…bored (and locked in)

    Welloiled1 By welloiled1
  • Re: Mr N P by goodflyingduck
    Wed, 09 Jul 2014 18:32:00 GMT

    Not today, as it turned out - domestic & other (money-making) matters demanding my attention ... perhaps tomorrow, certainly by the weekend. Perhaps, by your reckoning, I should have RUR employ me as their Shareholder Relations Officer ? GFD PS The Duck Shoot temporarily suspended for the same reasons, although no actual fixed date was given for that, was it ? By goodflyingduck
  • Re: Mr N P by MrNoProfit
    Tue, 08 Jul 2014 16:49:00 GMT

    Go for it You clearly have far too much time on your hands.

    By MrNoProfit
  • Re: Mr N P by goodflyingduck
    Tue, 08 Jul 2014 15:48:00 GMT

    I'll get back to you tomorrow on all that - with the facts & with your earlier posts. Meanwhile, no one on this BB cottoned on to the fact that there was a "default" period attaching to the Award until I posted it ! That PE expected the Award to be paid (fully &) promptly was only a reflection of what the judges said themselves. Check that out, why don't you ? GFD By goodflyingduck
  • Re: Mr N P by MrNoProfit
    Tue, 08 Jul 2014 11:37:00 GMT

    Most of my opinions are backed up by observations rather than your continual speculation and guesswork. You are the one trying to put their opinion and guesswork forward as fact. Perhaps you are too attached to this share which why you rabidly defend it against anyone else's opinion and comment that conflicts with yours.

    Numbers 1-3 show a lack of understanding of the arbitration process; especially 3 since PE was saying they expected quick payment once announced (used the term any day now if I remember correctly) etc, yet the arbitration process has a 45 day and 90 day timeframe for the award to be analysed and finalised etc. Can you point to independent clarification that the Santiago stock exchange think that the AIM is improperly regulated? On point 1 the company expected to be in arbitration discussions much earlier than May 2013. On point 2 the company expected the announcement of the award by end of October 2013. You'll notice if you read my comments properly that I don't just single out the BoD, but their advisors as well.

    I've speculated that Santiago listing is in jeopardy for some time (I got slated then, and I get slated now), and then through Swooped and some other AGM attendees we have the planting of the seed that maybe there are alternatives. No details on those alternatives. Lets see what materialises shall we.

    You claim I slate the company, well perhaps you need to understand the difference between slate and criticise. Even swooped and another poster (on LSE) agree that the board have not done the best of jobs in communicating information.

    I have confidence the company will pull through and better days lie ahead hence the buy rating; but that doesn't mean I think that some of the communications are timely and appropriate.

    I have written to the company in the past, and will do so in the future if I think it is appropriate.

    Your right in that the only share I tend to post on these days is this one, because many of the shares I hold have a number of rabid commentators (much like yourself on here who seems to have become a bully boy). A prime example is XEL. RUR has over the last 12 months been one of the more interesting shares in my portfolio. On several other holdings my views are shared by others, so I don't feel the need to put forward further views. Furthermore up until around APR 2013 I use to use a different login as my main account, so again simply looking at my posting history really isn't going to tell you much.

    By MrNoProfit
  • Mr N P by goodflyingduck
    Tue, 08 Jul 2014 10:41:00 GMT

    Your formal invitation to the Duck Shoot. Shame you can't leave it alone. No posts on iii from 2002 to April 2013, then solidly RUR bar one on the National Grid. Maybe you do have other shareholdings but you seem disinclined to post on them on iii. Yes, everyone's entitled to their opinion but when someone expresses an opinion which they represent as fact, then they leave themselves open to question and rebuke. I'm not saying that I'm always right but I am right on calling 4 out of 5 of your enumerated criticisms of the Co as being, basically, wrong - as you have yourself, in some of your previous posts.

    If your intention is to stimulate debate, fine, let's have a debate but your postings suggest that the moot is one you're having with yourself - a confirmed long-term holder who consistently posts "BUY" recommendations then goes on to slate the Co for things over which it has no control whatsoever, whether in terms of timescale or otherwise. Yes, the Co could make more News announcements about these things but what, please, is the value to anyone of a News release that says "Nothing's changed - we remain at the mercy of bureaucrats and cannot understand why (e.g) the Listing Authority in Santiago considers AIM to be an improperly regulated market [wherever did they get that idea, I wonder !] ". Only item 5 of your list holds water & I would venture to suggest that other things were preoccupying the minds of the BoD & CEO at the time and that it would have been foolhardy to explain that the delays were, at least in part, attributable to the need for at least some of the money due from Bolivia.

    If you truly believe that the Co has an investor relations problem in terms of News releases, get in touch with the Co & express that view. I'm certainly going to be writing in an effort to get them to make a "general update" statement (similar to the one following the payout by Bolivia) but it might well be the case that "real" News is imminent, in which case I wouldn't expect them to waste their time. We are investors - we need to have faith & confidence in the BoD and CEO (the people who actually run the Co) - if we don't, we either put ourselves forward for election to the Board or we take a hike. It's as simple as that.

    GFD By goodflyingduck
  • Re: Mr N P by MrNoProfit
    Mon, 07 Jul 2014 18:15:00 GMT

    I certainly don't have anywhere near all my portfolio, or even 10% of my portfolio all in RUR. I am well spread around. All in all I'm well up on my investments.

    You can maintain your opinion, it is just that "your opinion", as my opinion is mine. Just because your opinion differs from mine, doesn't mean that I have no right to post on these forums; or are you someone who thinks they are always right and therefore their opinion is the only one that counts and should be published. Perhaps it is yourself that needs to chill.

    If you seriously think my posting of my opinion on here scares potential investors away then you give me far too much credit.

    Perhaps you need to look at some of your own historical posting on this share as well. By MrNoProfit
  • Mr N P by goodflyingduck
    Mon, 07 Jul 2014 17:01:00 GMT

    OK. I see the problem, having looked back through your posting history. Might be an idea to re-read some of your own posts going back to April 2013. There's always a problem when investors put all their money into one stock only to see it fall by over 50%; you have my sincere & deepest sympathy (I've been there myself, albeit not in a single stock, and I know how painful it is). Nevertheless, it does not help to inspire other potential investors' confidence in this Co if you keep on posting seemingly conflicting messages .... BUY recommendations with critical texts.

    I still maintain that four out of the five "time-framed shortfalls" were neither predictable nor attributable to anything that the Co did or failed to do. I could spend time explaining that but you are not a newcomer here & you can always re-read your earlier posts to remind yourself of the truth of what I am saying.

    Might I respectfully suggest that you refamiliarise yourself with your own reasons for having invested here &, in so doing, regain the confidence that you had then and subsequently - IMHO it will not be very much longer before your red turns to blue (assuming you bought at around 13p and have averaged down since); I for one do not subscribe to the notion that "any news is better than no news" and it's not the absence of news (whether in the nature of updates or otherwise) that has brought this Co's sp down. It is those other, extraneous, factors to which I have already referred [coupled with the impact that predatory AIM speculators can have on any share, as swooped correctly reminds us] ... they are behind us now & the future here is bright - please don't keep casting clouds, eh ? As my kids would say "Chill" ... put RUR on alert & try to forget about them if you can't help yourself from feeling hard done by.

    Patience on our part & PE's idefatigible drive, energy and enthusiasm (along with a firm hand on the tiller from the BoD) will see us all in very good stead in the not-too-distant future, I am sure. Were I not sure, I would never have invested here and nor, very probably would you. All will be well. GFD By goodflyingduck
  • Re: AGM - Feedback here by swooped
    Sun, 06 Jul 2014 13:24:00 GMT

    Yes, and that is why I said 'As much as I agree with a lot of your post' the delays and missed deadlines are unforgivable in the way that they were handled, i.e. yes if they are substantially late then updates should be given, I expect newsflow to be treated differently moving forward. By swooped
  • Re: AGM - Feedback here by MrNoProfit
    Sun, 06 Jul 2014 13:19:00 GMT

    Lets hope your last statement is correct.

    I guess it comes down to why you think the PIs are selling even at a loss. Most PI's will use a stop loss or trailing stop loss to protect some of that capital.

    The share price has been falling even on very small volumes which tells me the issue is bigger than PI's simply selling a few shares. At these prices why do you think the trust funds are not buying in, even at relatively small amounts? I think that comes down to credibility and in this shares case a lack of it.

    Credibility can be turned around with a few good timely announcements and by delivering to a stated time frame. I've seen it in companies before both on the fall and the rise.

    Like yourself I'm in this for the longer term and expect the corner to be turned around the end of Q3, mid Q4. If I was simply trading I'd have bailed along time ago. By MrNoProfit
  • Re: AGM - Feedback here by MrNoProfit
    Sun, 06 Jul 2014 13:08:00 GMT

    I think you're missing the point.

    If something is said to be done to a certain time frame, then by definition if that time frame is not met then something has changed. If that time frame turns out to be a significant difference then that should be communicated especially if it is revenue impacting. Personally I think most investors would want to know if there is significant delays to key events happening.

    Personally I don't believe the reasons behind the Santiago delays being simple red tape and rubber stamping related. The reason simply does not add up to what is now a 9 month delay from the original time frames and a 5 month delay from the revised time frames post the announcement of the arbitration award. If the reasons are true then the company needs to reconsider which advisors are managing the listing. The delays indicate that the issues are most serious. Heck at one point it was being put down to the fact it was holiday season in Santiago.

    The "extroneous" factors that you refer to most definitely do not impact on 4 out of 5 of the points I listed. Points 1,2,3 all point to a failure to understand the arbitration process whether directly by the company or by their advisors. Anyone who read the process documentation would know about the 90 day period post announcement. So the idea that payment would be made"any day now" during Feb, Mar, Apr was simply misleading.

    Here is a quote from the results "At the present time, Canchayllo is 95 per cent complete, with commercial operation targeted for August this year. Rurelec has arranged additional funds to cover cost overruns, largely due to unforeseen geological conditions found in the construction of the power house, a 10 per cent overspend in the waterways and increased labour costs due to lack of funds.".

    Let us see if the company holds to this time frame. They need to start rebuilding credibility by keeping to their time frames and delivering projects. By MrNoProfit
  • Re: AGM - Feedback here by swooped
    Sun, 06 Jul 2014 13:00:00 GMT

    As much as I agree with a lot of your post, the reason the sp is as depressed as it is, is purely down to private investors, as stated there was a surge of buying activity from those hoping for a quick win pre award, when it never materialised they all sold and continued to do so even at a loss until we are where we are, all main trading activity has been from nominee accounts and no major shareholders have sold, none, thus I have little sympathy as personally I am in Rur for the long term, I want to see the business expand, sign JV's and return to dividends thus my holding can eventually pay for itself and to do this we need strong, committed shareholders not day traders that seek only create volatility. Its looks to me that the PI's that want to be out are out, some will be waiting hoping for a spike on JV's or dual listing and then exit, personally I will stay and watch this company grow, I suspect have a target price a lot higher than most on here and imo at these prices now being quoted the risk reward has never been better. I and sure that lessons have been learnt by the Board and mistakes of the past will not be mistakes of the future. By swooped
  • Not to stay imho by All-is-fair
    Mon, 21 Jul 2014 18:22:11 GMT

    Argentina has pretty much red-carpeted Putin and the Chinese leaders in recent weeks. I doub t a US political court is going to be open to a stay to help out one of Putin's chief a-kissers. That is, of course, unless the hedgies are open to it due to advantageous positions they may have developed. End of the day, a stay means expiration of the RUFO and that is advantageous to Argentina but kicks the can down the road again. Well, we'll know soon enough.
  • definitely stay by Swooped
    Mon, 21 Jul 2014 17:36:50 GMT

    imo, wait for the JV's to be announced, don't be had by selling at the bottom
  • Tuesday by All-is-fair
    Sun, 20 Jul 2014 16:50:42 GMT

    To stay or not to stay. More imprtantly, how much will the hedgies make indirectly from their knowledge of the negotiations. Well, it's a murky world we live in I guess.
  • JV with a Chile listed company by All-is-fair
    Fri, 18 Jul 2014 10:25:39 GMT

    Has to be on the cards imho, otherwise why no mention of the listing anymore. The provisional ticker RUR had for its Chile listing has been removed long ago.
  • Movement today by All-is-fair
    Thu, 17 Jul 2014 10:24:16 GMT

    On both RUR and IPSA.
  • Giuseppe by Rocka999
    Thu, 17 Jul 2014 10:22:05 GMT

    You takes your chances....
  • This is the risk when by Giuseppe
    Thu, 17 Jul 2014 09:16:29 GMT

    doing deals with insolvent governments. No cashflow , more debtors, more problems than solutions
  • Uncertainty by All-is-fair
    Thu, 17 Jul 2014 07:18:11 GMT

    Its uncertainty that is the enemy here, what will happen if this that and the other happens. Worse case scenario is that argentina defaults and has no choice but to secure its electricity supply through the dreaded N-word. Personally I think they will cut a deal, the government of argentina would fall if through sheer bloody-mindedness they pushed the country into default. 13 days to go and radio silence continues.
  • RE: rocka99 by Swooped
    Wed, 16 Jul 2014 14:09:09 GMT

    How have you managed to jump from Argentine issues with funds and to then make an assumption "If the Argies do not pay us, they risk losing their electrics/power etc. "
  • rocka99 by jeddicat
    Wed, 16 Jul 2014 11:23:19 GMT

    I do not think we have much to worry about old mate. If the Argies do not pay us, they risk losing their electrics/power etc. This would create Civil Strife and worse, and nobody wants that! No Court would allow the Argentine people to suffer that hardship for another money grabbing hedgie fund.
  • rocka by All-is-fair
    Wed, 16 Jul 2014 10:38:40 GMT

    I read an article that revealed that something like 75 percent of argentines just want to cut a deal and get it over with. I believe all the posturing in the media is just to ensure the best deal possible. We'll know soon enough, it's almost radio-silence at the minute.
  • All-is-fair by Rocka999
    Wed, 16 Jul 2014 09:12:17 GMT

    I was just posting developments really, after a period of brinkmanship one phone call will probably swing a deal and we move on it would be fair to say ?
  • rocka by All-is-fair
    Wed, 16 Jul 2014 07:58:25 GMT

    I wouldn't read too much into what comes out of the argentinian govt or the hedgies, a deal is the will of the people and I'd suspect that somewhere in the next few days something will break. End of the day this could be massively lucrative for argentinian business and jobs.
  • Reuters by Rocka999
    Tue, 15 Jul 2014 21:07:12 GMT

    Faced with a default by July 30, Argentina will likely be in touch with a mediator by telephone instead of sending a mission to New York this week in its battle with holdout bondholders, an Argentine economy ministry source said on Tuesday. If Argentina does not reach a deal with the holdouts, who have rejected previous debt restructurings in the wake of its 2002 default, it faces a new crisis by the end of July as it struggles with recession and dwindling foreign reserves. Argentine officials and holdouts met separately with the court-appointed mediator, Daniel Pollack, in New York last Friday but failed to reach a deal or even schedule further talks. Asked if there would be a meeting in New York this week with Pollack, the source said, "This is the most probable ... There surely will be contact by telephone." The group of holdouts involved in the case, led by hedge funds Elliott Management Corp and Aurelius Capital Management, say Argentina is not serious about negotiating with them. For years, Argentina refused to negotiate, portraying the funds as "vultures" circling the corpse of its 2002 default that plunged millions of Argentines into poverty. The funds bought bonds in the secondary market at a steep discount. After a string of adverse U.S. court decisions, the country has exhausted its legal options to get around a 2012 ruling by U.S. District Judge Thomas Griesa that it pay holdouts in full, $1.33 billion plus accrued interest. Until it pays up, or reaches a deal with the holdouts, Griesa will prevent Argentina from servicing restructured debt resulting from 2005 and 2010 debt swaps. That means it could go into default by a July 30 deadline for a coupon payment. The South American country says if it pays up in accordance with the ruling, it faces claims from other holdouts and exchange bondholders worth more than $100 billion, an amount it cannot afford. Argentina says it wants Griesa to re-instate a stay of proceedings so it can negotiate with holdouts for a longer period than the two weeks until July 30 without defaulting. But holdouts say the country already had a stay for 2-1/2 years while it contested the ruling in appeals courts and does not deserve a new one. Siobhan Morden, head of Latin America strategy at Jefferies in New York, said markets have been overly optimistic about the likelihood of a deal given that Argentina had shown no willingness to respect Griesa's ruling. "It's not a good sign when a deadline is two weeks away and you don't know what your priorities are," she said. "If Argentina showed some good will, it could get some flexibility on timing, but it hasn't so far."
  • sp by jeddicat
    Tue, 15 Jul 2014 20:02:46 GMT

    Well I might have thought they might have thought that with the amount they ticked it down last week, it might have been fair to tick it UP a bit today, on those trades? Regards