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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  • Re: IPSA RNS - Owed money by RUR by Leicesterboy
    Thu, 30 Oct 2014 08:09:00 GMT

    Thank you Tony, that bit of News may help the SP.
    LB By Leicesterboy
  • Re: IPSA RNS - Owed money by RUR by MrNoProfit
    Thu, 30 Oct 2014 07:31:00 GMT

    To be fair, that isn't really any different to what they said in the interim trading statement.

    PE in the interim results. 30th September
    ===
    We are now finalising our partnership arrangements in Latin America to permit a more rapid roll-out of new generation capacity with large co-investors.



    Let's hope they do get a good deal and sooner rather than later, in the mean time we'll just keep twiddling our thumbs. By MrNoProfit
  • Re: IPSA RNS - Owed money by RUR by tonydive.
    Thu, 30 Oct 2014 07:03:00 GMT

    MNP, LB,

    Email from Ana yesterday " ...company is to close the partnership deals which have been months in negotiations and are now near closure. "

    Obviously, it would require a RNS to be more specific, but lets hope they can secure a reasonable deal on them and quickly.

    regards,

    Tony By tonydive.
  • Re: IPSA RNS - Owed money by RUR by Leicesterboy
    Wed, 29 Oct 2014 21:13:00 GMT

    I agree !
    LB By Leicesterboy
  • Re: IPSA RNS - Owed money by RUR by MrNoProfit
    Wed, 29 Oct 2014 18:17:00 GMT

    By soon, I was meaning weeks. The implication has been ever since the AGM that deals/agreements are weeks away and that was 4 months ago.

    Lets hope they don't go to the Birdsong lender! By MrNoProfit
  • Re: IPSA RNS - Owed money by RUR by Leicesterboy
    Wed, 29 Oct 2014 16:36:00 GMT

    Good point, but I would say they must be pretty close, as they are Bridging and not taking a permanent loan out, and not quite sure whether they have been to Court over this dispute, or was that the next move re Arbitration, seems a very early settlement the deal must have been a good one or were they forced into a corner. Will try and IPSA Accounts, and why has the dispute carried on since 2007 that is 7 years ! and not been to court all very strange !
    LB By Leicesterboy
  • IPSA RNS - Owed money by RUR by MrNoProfit
    Wed, 29 Oct 2014 15:38:00 GMT

    The IPSA RNS.
    ==
    The Directors of IPSA are pleased to announce that a dispute over sums owed to Turbocare S.p.A ("Turbocare") under the sale and purchase agreements and the refurbishment agreement for the Siemens Westinghouse 701DU (ex Fiat Avio TG50) turbines purchased from Turbocare in 2007 has today been settled by an agreement reached between the parties under which Turbocare will be paid an initial sum of 3 million euros on or before 21 November 2014 and a further sum of 2.6 million euros in cash or equivalent value by 30 September 2015. Security for these sums has been put in place by IPSA through a charge over a receivable in the amount of £3.2m due from Rurelec PLC ("Rurelec") for the balance of payments due following its purchase of two 701DU turbines in June 2013.

    As previously notified, the disputed amounts claimed by Turbocare have already been fully provided for in the Company's financial statements in an amount of £4.4m, being €5.6m at current exchange rates.

    The Company is in discussions for the provision of loan finance to bridge the sum owed by Rurelec. The Company will need to raise at least 3 million euros by 21 November 2014 to make the initial cash sum payment to Turbocare to avoid security being called by Turbocare.

    Chairman Richard Linnell, commenting, said that he was delighted that a settlement had been reached, and that an arbitration had been averted, allowing management to focus on the operations of the business.
    ==

    Anyway to the RUR point.

    If they are arranging a bridging loan, then they don't expect payment from RUR anytime soon. So is RUR expecting any deals to complete soon? Given the overlap of the boards with the same people you'd expect them to be in the know....!

    It would seem that these deals RUR is going on about are unlikely to complete any time soon if it is pushing IPSA to take our a bridging loan which would cost it more money than if RUR simply paid its debt.
    By MrNoProfit
  • Hands UP ! by Leicesterboy
    Wed, 29 Oct 2014 13:15:00 GMT

    Who was the other buyer of these shares at 4.5 ?
    LB By Leicesterboy
  • Re: Stagnant by TheGreatGame
    Wed, 29 Oct 2014 11:59:00 GMT


    So there is life in the BB.

    Let's hope there's life in the SP too, By TheGreatGame
  • It was me ! by Leicesterboy
    Wed, 29 Oct 2014 09:51:00 GMT

    I saw there were no trades so decided to put my feet in the Water again !
    News must be imminent !
    LB By Leicesterboy
  • Re: Stagnant by MrNoProfit
    Tue, 28 Oct 2014 20:11:00 GMT

    Assuming you're referring to Canchayllo (Peru) then it is due to enter service sometime in November.

    From the interim results "Cascade Hydro has agreed terms for the sale of a substantial share stake in the Canchayllo project which will allow Cascade to repay third party loans and release funds to Rurelec. Completion of that share sale is expected to occur in early November. "

    So I'd expect 2 pieces of news during November covering the going into operation of Canchayllo and the completion of share sale.

    Lets see if the company can hold to its own target dates, its track record isn't great in recent times. By MrNoProfit
  • Re: Stagnant by Leicesterboy
    Tue, 28 Oct 2014 10:58:00 GMT

    I think we may hear News this week, they should have had one project into Production in October, plus negotiations on Sale of art of on going projects should also be coming to fruition !
    Maybe a good time to buy they cant go any cheaper Sterlings accounts are due for filing already late !
    Their average price is over 9 pence ! and some guy bought some at 8.25 not too long ago !
    LB By Leicesterboy
  • Re: Stagnant by MrNoProfit
    Mon, 27 Oct 2014 22:46:00 GMT

    I'm sure I read on another forum (possibly LSE) that the energy produced in Argentina was billed in USD. I think it may have been swooped who mentioned it. If he still monitors this forum perhaps he can clarify.

    I don't think the company has other development projects on-going in Argentina, so holding the money there doesn't make much sense when the money is needed to develop other projects in their portfolio elsewhere in Latin America and so on. They also need to provide an income to pay wages, other costs (and taxation although their losses probably negate that) back in the UK as I don't think they have a UK income. By MrNoProfit
  • What.. by TheGreatGame
    Mon, 27 Oct 2014 19:19:00 GMT

    .. are we looking forward to. Christmas?
    I mean. Is there any news due this year?
    Good news preferably :-)

    Very quiet in here
    By TheGreatGame
  • Re: Stagnant by goodflyingduck
    Thu, 23 Oct 2014 17:35:00 GMT

    Hi TGG. IMHO there is no loss, per se, for so long as the Pesos remain as Pesos in Argentina; it's only when they are converted, as cash, to £Sterling that the loss is actually incurred. The Accounts show only a paper loss on the conversion from Pesos to £Sterling because of the need to render the Accounts in that currency.

    I wish I could remember which Property Investment Co I was looking at some time ago. Their investments and rental income were all in France/Euro & they had hedged but they took a hammering from their Bank on account of that. I'll do some research when time permits.

    And, yes, GLA ... one day ... one day ! GFD By goodflyingduck
  • RE: All-is-fair by Swooped
    Fri, 31 Oct 2014 18:12:15 GMT

    If I'm wrong in a year's time, I will accept an 'I told you so' from him ! jaf1948, so will I, but I expect he will have been long gone by then..hopefully!
  • RE: All-is-fair by jaf1948
    Fri, 31 Oct 2014 17:51:27 GMT

    I'm still in despite what AIF says. You both make valid points but my take is that there is still a good future for RUR even if one accepts AIF's gloom and doom. If I'm wrong in a year's time, I will accept an 'I told you so' from him !
  • RE: All-is-fair by Swooped
    Fri, 31 Oct 2014 17:35:13 GMT

    jaf1948, I agree that he may have called it better short term which is fine if you are a trader & in fact only good if you are indeed a shorter of stock, however my vision is one of the future. To remind ourselves, think about what Rurelec have been through, 50% of the company stolen, an unfair arbitration result (financially) remember they won the case, and yet and here is the important factor, the future looks bright to those that believe these deals on the table will come to fruition and if they do, you will find that Rurelec will re-rate. Indeed the benefits to the investor (not the shorter) will be far greater, the fact of being able to purchase shares at this price is a huge bonus. If the payment had been greater at the arbitration the sp would now be much higher and yet the deals on the table may have looked very much the same, Rurelec would still have pursued the Latin American ventures, they will still have been looking to divest 50% of their project (as that has always been the strategy). the difference would be they would have had more cash in the bank, however with the illiquid nature of the stock and the fact that we are trading at less than 50% of NAV, the potential % upswing in the SP is greater now than it has ever been. So I am not scoring but if you wish 1-0 to AIF if you have a short term outlook or are a trader, however let's see where we are when the deals are announced, remember there are likely to be multiple, and each will add their benefit to the sp then we will see who has been the wiser man, the one that made a short term gain and seems to be on an emotional roller-coaster or the one that was able to be stress free in his belief of the company, pick up hundreds of thousand of shares at low low prices and held long enough to call it an investment, with potential future dividends in the bargain to boot: To recap, what are we waiting for: - Rurelec is considering offers for a 50 per cent stake in Termonor and expects to complete a sale at a premium to book value. - Rurelec is also considering offers for 50 per cent of its Central Illapa project, where it also expects to complete a sale at a premium to book value. - Rurelec's Peruvian run of river hydro subsidiary, Cascade Hydro, has completed construction of its Canchayllo project, which is expected to enter service at any moment - Cascade Hydro has agreed terms for the sale of a substantial share stake in the Canchayllo project which will allow Cascade to repay third party loans and release funds to Rurelec. details to follow - Rurelec is currently negotiating partnership arrangements covering both small hydro and large hydros in Peru. - The Energia del Sur (EdS) plant in Comodoro Rivadavia continues to trade at record levels and is reported to be the highest availability plant in Argentina - Rurelec is exploring one or more major alliances in Latin America to allow the Company to accelerate its growth without the need to ask existing shareholders fo
  • All-is-fair by jaf1948
    Fri, 31 Oct 2014 17:01:22 GMT

    Yes, you have called it better than swooped but do you have to be so smug about it ?
  • RE: swooped by Swooped
    Fri, 31 Oct 2014 17:01:01 GMT

    AIF it seems I touched a nerve there, LOL The sp means nothing to me at this juncture, I will await the news and then we will see who is right, I have purchased to see what happens post the unfair arbitration result, if Rurelec close the kind of deals we hope for these low sp figures will mean nothing, I have already expected a rocky road post arbitration due to the result but what is important is what Rurelec can produce post that, and if anyone has found any benefit from my posting also realises that the company if about the future not the past and I am sure the future will speak for itself, in-fact, if anyone has heard anything I have said and done their own research, I think you will find that they have the best of both worlds, 1. knowing that ultimately Rurelec will turn out to be an excellent investment and 2. by believing that they will also reap huge rewards by being able to take advantages of such low prices, whereas you have already lost financially and by the constant negativity, emotionally as well.
  • RE: swooped by alphapig
    Fri, 31 Oct 2014 16:36:20 GMT

    Guys, i've come to the conclusion you're the same poster!
  • swooped by All-is-fair
    Fri, 31 Oct 2014 16:34:24 GMT

    And talking about history, shall we talk about how the devaluation of the peso has affected rur? You derided and insulted me for weeks about how that would have no affect on rurWHALLOP.... down another 20 percent on interims release. How many times is your analysis gonna be wrong before you will just admit it?
  • swooped by All-is-fair
    Fri, 31 Oct 2014 16:27:43 GMT

    When will you admit that your analysis of the situation was totally incorrect? When its down 90 percent maybe? Its already down 75 percent and you deny there are any issues. What kind of analytical model are you applying apart from those found in fairy tales?
  • swooped by All-is-fair
    Fri, 31 Oct 2014 16:23:05 GMT

    Pfffft check my history, already had this conversation with jeddi. Dont forget swooped, anyone that has been following you is down 50 percent at least. Anyone following me is poised to buy at these lows. How on earth you have the audacity to try and lord it over me is unbeleiveable. Just because you've attended a few agm's? Not one thing you have posted has ever come to fruition yet you attack me? Someone with a near perfect grasp of the real situation. Your arrogance in the face of total failure is staggering.
  • RE: lost money on ipsa? by Swooped
    Fri, 31 Oct 2014 10:31:00 GMT

    £650 you're dreaming, you reported when you bought and when you sold and the number of shares, it does not take a genius to work out your losses in the thousands.. still keep venting your revengeful anger, no one listens to you anyway unless you have a valid reason for continuing on this board when you apparently hold no shares, don't believe a word of it for a minute, just a very bad agenda.
  • lost money on ipsa? by All-is-fair
    Fri, 31 Oct 2014 09:20:33 GMT

    Yep 650 quid. Nowhere near how much others have lost or are down. I suggest that you are both down, over sensitive about it and you are venting your frustration on me because the news continues to be poor and i have the gall to want to discuss it.
  • RE: kamel by KAMEL17
    Thu, 30 Oct 2014 20:49:23 GMT

    What an utter joke you are. This will remain the case whether or not Rurelec succeeds. The saddest thing of all is that only you cannot see it. Please feel free to have your undoubted last word.
  • RE: kamel by Swooped
    Thu, 30 Oct 2014 19:44:55 GMT

    Lol AIF talks of insults and derision and at the same time uses lines against others like being "clueless", "full of guff" etc. and it goes on, what he fails to realise is that deals take time, I am quite sure that Rurelec are far more understanding of their own financial position than AIF who seems to have a personal revenge against PE after losing a packet on IPSA. I suggest you just grow up and see what deals are produced before continuing your tirade of negativity.
  • kamel by All-is-fair
    Thu, 30 Oct 2014 16:38:48 GMT

    What a load of guff, I stopped reading after one line as I knew there was basically nothing of interest. You and swooped interpret negativity as you are both hypersensitive.
  • RE: kamel by KAMEL17
    Thu, 30 Oct 2014 13:00:30 GMT

    The way in which you have responded just illustrates what a one sided and meaningless viewpoint you have. 1. My posts are far from being all positive - thy are balanced. Your posts are unfettered pessimism often based upon nothing at all meaningful ( the get out the tin hats the Argies are coming type of utter nonsense). You ply every piece of news possible with an unduly negative view and post it as fact. Some of swooped's posts are the opposite and I'm sure that I will have said so. 2. I have no idea why your altruism extends to trying to educate others on this board on a daily basis. You must be ever so helpful. The fact is that you are the only poster here who cannot enter into a debate with arguments on booth sides. You are predetermined to state your own viewpoint as FACT. The presentation of your "findings" is always couched in an all encompassing blanket of doom except that you may buy at 3p or so. Why would you want this at any price if it is such a bad stock? 3. As to getting nothing right - What exactly have I said that is so wrong. I'll stand to be corrected if you can point it out. As for looking foolish, you have a monopoly there. Best of luck to you (whatever guff you spew out in response)