Rurelec Share Discussion Threads

[dave4545] 04/4/2022 13:53

Today in each auction somebody is trying to buy 5 million at 0.45p.

[dave4545] 01/4/2022 16:17

Pretty sure the order was 2.54 mil

The biggest trades are 1.3 mil and 1.24 mil showing as sales as small sales went through but they are the buy orders getting filled

[dave4545] 01/4/2022 13:24

I think that order is still in the system.

The mm's are just lapping up the sales in this today and now a 1.3 mil sale goes through and they still want more.

4 million sold and still bidding

interesting

[dave4545] 01/4/2022 07:58

2.5 mil order at 0.45p trying to get filled in the auction here pre market

[golden prospect] 30/3/2022 10:43

From the company website, it's an old script but reminds Mejillones is key

"
PLANT UNDER DEVELOPMENT
Chile
Rurelec owns Central Illapa S.A. (“Central Illapa”), a Chilean project company which will develop a 250 MW open cycle gas fired peaking plant in Mejillones, one of the key power hubs on the SING (Norte Grande Interconnected System) system of the Chilean power grid.

Following the receipt of environmental approval for the Central Illapa plant using Siemens 701 DU turbines, Rurelec acquired two fully refurbished turbines from IPSA Group PLC in June 2013.

Rurelec is seeking to complete the development of its project in Chile or sell its interests in it.
"



Plus From the interims ending June 2021 (30th September)
"
In Chile, the necessary environmental consents and land leases were maintained in order to extend the project and the Board continues to review options in the light of the risks versus rewards of undertaking this project.
"

Turbines for Sale

[golden prospect] 29/3/2022 12:13

RUR turbines ?


"The project filed with SEA involves the conversion of the plant’s first unit (the second unit is yet to be finished) to take natural gas instead of coal, with diesel as a backup fuel. This would reduce the plant’s carbon emissions, Engie said.

In its filing, Engie said it planned to start work on the conversion in October 2023 and finish in mid-2025."

9th March 2022

[golden prospect] 18/2/2022 10:02

Is there scope for the rurelec turbines on a biomass project ?

15th Feb 2022

[golden prospect] 02/2/2022 11:37

Unlocking the Chilean project would be substantial for Rurelec

14 DEC 2021



17 DEC 2021




"Gasmar is currently expanding its operations in Chile through the construction of a new terminal in Mejillones Bay that it expects to begin operations in 2022."

[novicetrade68] 12/1/2022 12:30

Fortunately there have been some developments lately, if all is going according to plan they will have received $900,000 in H2 seperately from selling a lower capacity turbine earlier. Then the developments around Antofagasta are most welcome, great to read that a power energy project is going ahead and planned to be build, should presumably keep the company quite busy over the coming years.

[glavey] 12/1/2022 07:10

What a lot of silly 'promotional' nonsense.

[golden prospect] 11/1/2022 12:11

No problem, RUR is so far off radar that there is time to research!

( I sense Sterling Trust matters will be resolved this year )

The history on the 701's is amazing, and to think we still have a pair that should be worth $33m+

21st July 2011


On the books for Rurelec 13th June 2013 for £16.1 million (cash and shares)

[novicetrade68] 11/1/2022 12:01

Thanks for those links, great to read there have been several developments in Chile as of recent, a few parts from the article, should see plenty of room for involvement hopefully..


- The Central Illapa (Mejillones) Power Plant is 358MW gas fired power project. It is planned in Antofagasta, Chile. The project is currently in permitting stage. It will be developed in multiple phases. The project construction is likely to commence in 2023 and is expected to enter into commercial operation in 2024.

- Contractors Involved

Central Illapa (Mejillones) Power Plant (Central Illapa (Mejillones) Power Plant Phase I (Gas Turbine)) will be equipped with Siemens 701DU gas turbines. The phase consists of 2 gas turbines with 128MW nameplate capacity.

[golden prospect] 11/1/2022 11:45

It feels like there is scope for Rurelec to get the gas turbines away.

Note the ongoing plans in Chile to reduce coal-fired power


29th April 2021

"Engie Energia Chile plans to invest US$75m to switch by 2025 two units of the Mejillones coal-fired power (350 MW) to biomass and the IEM coal-fired unit (375 MW) to natural gas."

Best way to acquire 701 turbines is probably buyout Rurelec.
See Sterling Trust administrator's report page 6, 1st November 2021
"discussions are ongoing with other parties which have expressed an interest in acquiring the shares"



Plus observe a creditor of Sterling Trust paid £100,000 to the administration estate account.

Huge potential rewards when matters are resolved.

[golden prospect] 10/1/2022 15:44

From the accounts 2021

"Chile and the Group's two 701DU Siemens turbines

The Group's Central Illapa project ("Mejillones") remains consented, and licence fees have been paid to maintain that consent. The two 701DU turbines, which are stored in Italy, could be used in the project (the turbines are consented for the project), or be sold on the open market. The Directors are pursuing both options in line with the strategy to return value to shareholders in the shortest possible timeframe.
"

[golden prospect] 10/1/2022 13:40

Thanks NT68.

Have you seen this article from 7th December 2021?



Will Peter come after the Rurelec 701 DU turbines ?

[novicetrade68] 06/1/2022 21:10

Market cap only £2.5m atm, Sterling suprisingly still on the shareholder register.

[novicetrade68] 09/11/2021 15:04

Rurelec’s Argentine power plant completes conversion to combined cycle

South American power plant owner and operator, Rurelec plc (AIM: RUR) completed the conversion of its gas fired plant to a combined cycle plant. Combined cycle plants capture waste heat from turbines to power additional turbines with steam, thereby boosting the generating capacity of the plant without increasing fuel consumption.


Rurelec has long been an advocate of the technology, and has over the process of the last two years focussed on upgrading its generating capacity in Argentina and Bolivia into combined cycle plants.

Combined cycle power plants are also eligible to apply for Carbon Emission Reductions (CER’s) under the Kyoto Protocol, and can therefore ‘sell’ their reduced carbon footprint to other business that at producing in excess of their carbon allowance.

“The plant is in full commercial operation using the waste heat from both gas turbines to produce electricity from a steam turbine. This important step was achieved following approval from CAMMESA to permit the second gas turbine to be tied in. All three turbines have now been successfully synchronised.This permits EdS to finalise its new premium power purchase agreements under the Argentine government's Energia Plus programme,” the company added.

[golden prospect] 21/9/2021 17:42

Great to see team Earl paying twice book value, please come for the rest.

21st September 2021 - $1m deal completes earlier than expected

[glavey] 21/9/2021 13:00

Buyer of last resort...

[golden prospect] 20/9/2021 09:42

Earl is sniffing out the rurelec assets; please come and make an offer for all.
Guess it is just a coincidence that asset action starts as Shackleton appears at Rurelec in 2021



09 SEP 2021 - US $1m sale to The Independent Power Corporation PLC





Case study
29 JAN 2007



10 JUN 2013


Peter Earl, Chief Executive Officer, Rurelec PLC
Tel: [phone]

Paul Shackleton, Daniel Stewart & Company PLC
Tel: [phone]

[glavey] 20/9/2021 06:37

22. The Group does not participate in the current year profits of the joint venture, as they are exceeded by previous losses. In prior years the losses had exceeded the investment in the joint venture and therefore the Group has not recognised its share of losses in the joint venture. During 2020 the joint venture made a profit. Total loss position at the year-end was GBP32.5 million (2019: GBP40.2 million).


Currently they don't have any cash to distribute. They may never have any significant cash to distribute.

[golden prospect] 16/9/2021 07:33

Issued share capital of the Company consists of 561,387,586 shares
Distributable reserves £14,620,074

Net Asset Value per share 2.7p vs current share price 0.55p


( I assume the 2020 capital restructure is all part of some great plan )

[golden prospect] 16/9/2021 07:26

The plant and equipment of £6.9 million (2019: £7.2 million) relates to two Siemens turbines, stored in Venice for use in the Central Illapa project purchased for US $25.0 million. The turbines are held as inventory in the Company.

Storage and insurance costs for the turbines in the year totalled £112k (2019: £111k).

[golden prospect] 16/9/2021 07:01

Despite all the issues over tariffs, the JV makes a profit after tax ( see note 22 ) £2.67m in 2020 vs £2.7m in 2019.

[glavey] 16/9/2021 04:55

novicetrade68
20 May '21 - 13:08 - 112
"...regarding their turbines, the one in Chile is worth millions..."

novicetrade68
19 Jul '21 - 15:28 - 124
"Regarding the turbines... ...the one in Chile is a high-capacity one..."


"...recruitment of his replacement is currently in process..."


"The saving grace:" = the ongoing liability.