The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
News should be with us in 10 days.
Best of
466 to sell .
Maybe Interest is ahead .
Best of
Without a suitable backer .
It will take a re-think on Argentina for Rurelec to make good cash .
One feels the current BOD are Incapable of achieving such giddy heights as was reached in Peter`s time .
Best of
Obviously still has us in it`s sighter .
Will it ever cough up ?
Only Peter & Gordon know.
Best of
I suggest you guys do the same - this is going to 0.
Seen it so many times. It was a punt for me and it hasn't paid off. Better to leave with 75% of your equity than 0% .
It seems only Peter has the clout to garner this shower into action .
Gordon well done for the BOD defeat at the AGM.
Best of
The Company confirms that at the Annual General Meeting ("AGM") held earlier today, resolutions 1, 2 and 3 were duly passed by shareholders. Resolutions 4 and 5, which relate to the ability of the directors of the Company to issue and allot shares, were defeated.
Was that Riddles dumping 6.5m shares last week ? Seems to have vanished !
Perhaps the Peter Returns ?
Best of
Lets hope
Just A Mirage ?
The Directors consider that there is a reasonable prospect of a better tariff resulting from the negotiations in Argentina.
Best of
We have exhaustively investigated the possibility of finding a little extra cash within the sofa but unfortunately our efforts have proven fruitless. However we are pleased to announce that we have contracted to sell the sofa for £1.00. Whilst this is slightly less than the already depreciated value within the accounts the speedy transaction with settlement received by the end of today, 30th Sept. 2021, will provide sufficient cash to purchase a packet of biscuits to accompany our morning coffee on Friday. We would like to express our thanks to shareholders for their forebearance and for supporting our past fundraisings that enabled the purchase of the sofa which has proven invaluable over the years for taking afternoon nap, on the odd occasions when directors have had to visit the office to carry out their duties.
Has been a huge disappointment , thus far .
Love Shack , Duke of Earl . may eventually sing Our Tune.
Best of
Seems IPC & Peter hold All the Aces here .
Our BOD have been less than desirable .
Best of
Shame even Shack & Co are prone to grasp defeatism from the jaws of victory too.
Best of
Very thorough and detailed review .
Shame about the drop to 2.7p .
We all know Rurelec is worth more than this .
Peter`s opportunity is about to come. Now shareholders are weakened by Gordon`s disappearance.
Best of
It seems on the return of PE will entice the Market to get excited about Rurelec .
Unless Shackleton has discovered some dark hidden anomalies.
Best of
Well, that should enable them to keep the lights on and a few logs on the fire during the dark days of winter chill, even if there's now 3 mouths to feed. Is it too soon to wish the execs a merry Xmas?
Great to see our EX .
Giving us a loan of £1 million .
IPC sold for £1
Now , Peter is the time for an offer , now Mr Shack has the reins .
Best of
Have made a great start to realisation of assets .
Next the other two turbines , sorting out Argentina / Chile .
An offer from IPC may put a spanner in the works though.
EArl wIg O .
Best of
9 September 2021
Rurelec PLC
("Rurelec" or the "Company")
Disposal of Frame 6B Gas Turbine
Rurelec PLC (AIM: RUR) announces today that its wholly owned Chilean subsidiary, Termoelectrica Del Norte SA ("TDN") has agreed to dispose of its Frame 6B gas turbine generating set and certain associated ancillary equipment (the "Turbine") for a cash consideration of US $1m. The sale to The Independent Power Corporation PLC is expected to complete by no later than 30 November 2021 (and is subject only to the payment of the consideration). A non-refundable deposit of US $100k has been received by Rurelec.
The turbine, manufactured in 1991, was originally acquired by the Company in December 2012 for use in a project at Arica in Northern Chile and has been in storage since. The current difficult operating conditions in Argentina and the need to prioritise financial stability in the Company, mean that this development is not in the best interests of the Company. Disposing of the Turbine therefore increases the liquidity of the business and is another step towards returning value to shareholders. The Turbine was held at a value of US $500k (£368k) in Rurelec Group's accounts at 31 December 2020.
It is intended that the money from the sale of this turbine, once the third-party divestment costs (estimated at US $60k) have been discounted, will be returned by TDN to Rurelec and it will be applied towards the ongoing working capital requirements of the Company.
A further announcement will be made when the sale of the Turbine completes.
Andy Coveney, Director of Rurelec, said: "With the developed world requiring state of the art new power generating equipment for environmental reasons, and the 60Hz operating frequency limiting its use largely to the Americas, this asset only had limited appeal, and we are therefore pleased to have agreed this sale in line with our stated strategy."
blue
Accounts need to be filed with companies house by 30th September ? Not going to happen without an AGM ?
Still adding to my Pot .
A tiddler trade today .
Best of
One hopes the Argentinian equation can be sorted to Rurelec`s favour .
Anything is possible with this new BOD .
Best of