Rurelec Share Discussion Threads

[golden prospect] 15/9/2021 18:52

The saving grace:

Carrying value of TURBINES FOR CENTRAL ILLAPA (CHILE): 31.12.20 GBP6.9m

Accounts ending December 2020 (as promised)

[golden prospect] 15/9/2021 10:20

Glavey

You will note that novice refers to the two 701DU turbines

The recent disposal is in fact the Frame 6B turbine for $1m (book value $0.5m)




Looks like RUR balance sheet is being tidied up for corporate action.





As for the extra mouth, that again is tricky to reconcile given:

13th April - resignation of Brian Rowbotham


27th July - appointment of Paul Shackleton as Non-executive Director


17th August - resignation of Simon Morris

[glavey] 15/9/2021 10:02

"...should be worth millions..."

Turns out it was worth less than $1m.

"...otherwise RUR might as well keep it.

Turns out they chose to keep the lights on a while longer instead. Probably prudent as there's an extra mouth to feed this winter.

[glavey] 27/7/2021 04:27

"...otherwise RUR might as well keep it."

(It?) That's exactly what they have done and for quite a while.

Also?

[novicetrade68] 26/7/2021 18:21

Right, double checked and indeed the correct numbers should read as total annual G&A as $1.2m, RUR is owed $14m instead of $16m, yet the value of the turbines is of course to be determined but 128MW is a high capacity turbine and should be worth millions otherwise RUR might as well keep it.

Then also from the June RNS:

"The Board continues to explore potential funding opportunities including the sale of its other assets, and in particular, the Frame 6B turbine in Chile and the 701 turbines situated in Italy."

[glavey] 26/7/2021 07:08

Your 'interpretation', like your figures, seems somewhat creative.

[novicetrade68] 25/7/2021 14:18

Just my own interpretation, but a fire sale should not need to happen here on a turbine worth $10m-$15m; their annual G&A is quite low and can be either covered through remittances from Argentina (still $16m outstanding) or again approach Bridge Cap / Arena for a short term loan to relieve working capital pressures. Annual G&A is 800k or so, which is not excessive.

[glavey] 25/7/2021 01:04

"...the company's effort to see whether they can sell some of their inventory this time comes across as more genuine..."

Seems they are really telling that it may need to be more akin to a fire sale in order to keep the lights on.

[dave4545] 22/7/2021 15:38

Added some today at 0.6p

[novicetrade68] 19/7/2021 15:28

Regarding the turbines, the company's effort to see whether they can sell some of their inventory this time comes across as more genuine compared to years back, hopefully there'll be further developments during the year- the one in Chile is a high-capacity one and South America in general still has a lot of (future) demand for new electricity.

[bbr391] 15/7/2021 22:00

Morris & Co value this at 3.7p .
That should be easily achievable with the turbines .
Chile & Argentina on song .
IF that triumvirate is in tandem of course .


Best of

[dave4545] 14/7/2021 13:51

Sorry, it was from memory. I'll look again later on.

[glavey] 14/7/2021 13:48

Not a lot of research there Dave...

[dave4545] 14/7/2021 12:34

yawn you must be bored with little stocks to deramp atm.

£6 mil cap with multiple assets and £10 mil of payments to come.

Seems good value. No spike I'll just hold for 1p+ it will happen at some
point in the future

[dave4545] 14/7/2021 12:21

Check first 8 trades

All of them have already sold out now

[easwarareddy] 14/7/2021 12:07

Don't know if volume here?

[dave4545] 14/7/2021 12:06

Might have legs this one.

Traders need a flyer to chase in this dead market, early buyers all sold too soon so it might push on.

I could only get 150k at 0.6p max online, lets see if I can get 1p for them later

[tomboyb] 14/7/2021 10:50

Rurelec PLC Partial Debt Repayment
14/07/2021 10:25am
UK Regulatory (RNS & others)

Rurelec (LSE:RUR)
Intraday Stock Chart

Wednesday 14 July 2021

Click Here for more Rurelec Charts.
TIDMRUR

RNS Number : 2249F

Rurelec PLC

14 July 2021

14 July 2021

Rurelec PLC

("Rurelec" or the "Company")

Partial Debt Repayment

Further to the announcement of 23 October 2020 the Directors of Rurelec PLC (AIM: RUR) confirm that Rurelec have now received a further payment US $480,000 from Patagonia Energy Limited ("PEL") by way of partial repayment of the Amended and Restated Loan Notes (the "Loan Notes").

Since the announcement on 21 November 2019, when the Loan Notes were executed, PEL has received repayments from Energia del Sur, S.A. totalling US $4.4 million. To date PEL has made repayments of US $4.3 million on the Amended and Restated Loan Notes of which Rurelec has received US $3.4 million. The total balance outstanding on the Loan Notes is now approximately US $19.6 million and it is agreed the next payment of US $0.7 million will be shared 80:20 between Rurelec and Basic Energy Limited ("Basic") (the ultimate shareholders of PEL) and then the balance paid 72:28 thereafter (Rurelec:Basic).

The total amount owing to Rurelec is US $14.1million.

There can be no guarantee as to when any further loan repayments will be made and as set out in the announcement of 28 June 2021 the Company's working capital position remains under review pending the resolution of the Argentine spot energy tariffs for electricity. Further updates will be provided in due course.

For further information please contact:

[novicetrade68] 02/6/2021 14:02

Some positives in that RNS but a mention of working capital pressures, which are £700-£800k annually from memory, but oth Rur used to have a very good relation with Bridge Properties/Arena Central who can perhaps help and avoid dilution (not to mention Sterling who seem to oppose dilution at every opportunity). With some luck one or two payments from EdS in 2021 and things may hopefully look not so bad.

[novicetrade68] 20/5/2021 13:08

Let's just hope they make an effort in trying to do a deal regarding their turbines, the one in Chile is worth millions, and in Italy they have 701 turbines too (presumably a lot smaller), but could relieve pressure on working capital.

Reading the RNS doesn't really give the impression EdS is at 'huge risk of closure', but negotiations do seem to take a long time, yet let's not forget the plant is also in a remote location of Argentina ;

'Negotiations have continued for several months, during which EdS management has had access to, what the Directors believe, are the very highest levels of national and regional Government and also within CAMMESA. EdS management believes it has been granted this access because EdS is a strategically important supplier of power in the region around Comodoro Rivadavia in southern Patagonia.'

[golden prospect] 20/5/2021 07:55

Running out of cash, only £343K at 19 May 2021