Rurelec Share Discussion Threads

[mbaxter] 30/5/2014 08:27

LOL. Starts with rather OTT uber-flowery language that looks to have been required as part of the deal. Ends with a ...now that I have done what you ask, I will show a bit of petulence....

A damp squib at best. Still don't understand why they caved in during the negotiations. Not been overly impressed at the loss of a quarter of what was in the end a modest settlement compared to management guidance. Hey ho. That's the rub of the green with investing. After we place our bets, us punters need to accept the rough with the smooth.

[timbo] 30/5/2014 08:08

So many RNS releases are quite bland or opaque. This is beautifully crafted, makes a pleasant change from the usual...

[m.t.glass] 30/5/2014 07:57

Flattery plus bitterness. A powerful statement!

[malctim70] 30/5/2014 07:45

Beautifully worded RNS Peter.
The end result of honourable people attempting business with dishonourable ones.
I suspect RUR won't be the only company hesitant to do business with Bolivia in the future.

[giant steps] 30/5/2014 07:25

RNS 30th May 2014


"Bolivia will today initiate the transfer of US $31.534 million in full and final settlement of all liabilities to Rurelec."


Reminder : 22% of initial $142m claim (previously 28.8% before revised payment terms)

[mirabeau] 30/5/2014 07:19

Payment received

[swooped] 29/5/2014 16:50

Nice close for starters

[cheshire2] 29/5/2014 12:40

Spread has narrowed

Just done a dummy trade for 25k - bid 7.54 offer 7.74 max 500,000

[cheshire2] 29/5/2014 12:29

Some buying coming in now - up we go

[cheshire2] 28/5/2014 14:46

swooped - i agree with you on that - the market makers will be kept updated by the company on a likely share price on listing and time frame and i believe they will steadily increase the price.

[abcd1234] 28/5/2014 14:40

Volume (and S.P.) picking up today....

[swooped] 28/5/2014 14:31

I believe it is being worked on in the background, I guess not knowing whether we would get the award settlement held it up as there would have been know way to have priced it, my guess is if we get the cash this week then the Santiago listing will quickly follow.

[m.t.glass] 28/5/2014 12:02

What is the the latest indication of a likely date for the Chilean listing?

[swooped] 28/5/2014 10:51

Well at least 5 - 6 pence away from NAV yet, could be this week based on volume, then Santiago listing to bring us to NAV, or more if you believe we will trade at a premium to NAV as expect by the Board. Then we have closing on the deals in Chile and confirmation on how much cash left and how much coming in from Argentina, plus we should now that Bolivia is behind us get a forward looking statement and who knows maybe even some broker ratings. lots to look forward to, my guess is money in the bank just means the start to a positive future. Not that I'm biased in any way!

[torbie] 28/5/2014 09:51

Not yet people just realise this is going to fly

[cheshire2] 28/5/2014 09:35

11% jump in the share price - have we got the money ???

[jeddicat] 27/5/2014 13:46

Giant Steps -

Yes, I agree, in any event if the documents/agreement made in Holland last month contained the conditions we were advised of by RNS, albeit pretty 'vague', then any deposit into our accounts must be, or should be the original figure plus interest as laid down in the 'Award' of 31st January 2014. 27th May 2014 can in no way be accepted as a payment being made according to the 'Agreement'which stated 'early in May'?

I have already stated that there seems to great lack of detail in these 'Agreements/Contracts' etc, by those who seem to represent us shareholders?

Regards

P.S. Last minute, was around 16th May 2014, NOT, 31st May 2014!

[giant steps] 27/5/2014 11:24

I thought we were agreeing to a lower payment in return
for a "rapid payment of the award during the first part of May" ?

Think i would prefer the larger payment as we appear to be on
a slow timetable in any event.

[swooped] 27/5/2014 11:21

I thought it might be interesting to current share holders to note my response to a good question asked by Shasam on iii, he asks;

My thoughts on the Sterling Trust 53.9% - I think they have probably agreed to sell about 5-10% of their holding when the Santiago Listing takes place.

Since the Listing is by way of an Introduction and no new shares are to be issued, this will then facilitate trading. Of course it will depend on what price they can get, but I am sure some groundwork has been done to make sure there are willing investors!!

Hopefully they will get a satisfactory price - say 14p - assuming the magic money has come in from Bolivia.

Did a final top-up this morning at 6.95p - now working on the nails!!.

------------------------
My answer;

Yes I am expecting Sterling to provide the liquidity to the Santiago Market for listing, I am also expecting them to sell the shares at a premium to NAV thus I agree that 14p may seem reasonable, or it could even be higher thus why Peter Earl was convinced that we expect to trade at a premium. Importantly for us that when the listing goes ahead and due to arbitrate conditions the rating of our stock on the LSE will be out of kilter with Santiago and thus this is the main reason why we will be expecting to re-rate closer to NAV. Santiago listing is major for this stock and will I believe in itself raise the Share price here in the UK considerably.

[swooped] 23/5/2014 16:26

Tuesday morning RNS it is then is my guess, hopefully this is the last time we'll be buying at this price, I've topped up more than I should but heh, we're just at the beginning of this company's trip, good luck all.

[swooped] 23/5/2014 14:09

sorry my mistake $31.7m, typing faster than my brain, however my calculation is correct. £18.86m

[cheshire2] 23/5/2014 13:36

The State Attorney General Héctor Arce announced May 2 that the Bolivian government and representatives of the company agreed to a $ 31,534,613 compensation - todays exchange rate - £18,727,659

[giant steps] 23/5/2014 13:07

Where do you guys get $37.1m ?


Recall : US$31.5m




I assume we take a hit of $9.5m for early/prompt payment
So i guess $16m is adjusted down by $9.5m, for net cash to $6.5m