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IN BRIEF: Rurelec Gets Further USD380,000 Payment From Patagonia

Mon, 14th Sep 2020 21:27

Rurelec PLC - power generator and power plants developer based in London - Receives further USD384,000 partial loan repayment of amended and restated loan notes from Patagonia Energy Ltd. Balance of outstanding loan notes now approximately USD20.4 million with first USD1.6 million remaining to be shared 80-20 between Rurelec and Basic Energy Ltd. Total amount owing to Rurelec now USD14.8 million. "There can be no guarantee as to when any further loan repayments will be made," notes Rurelec.

Current stock price: 1.06 pence

Year-to-date change: up 45%

By Anna Farley; annafarley@alliancenews.com

More News

7 Jun 2022 15:30

IN BRIEF: Rurelec narrows loss; still "dominated" by loan write-downs

Rurelec PLC - London-based power producer with operations in Latin America - Pretax loss in 2021 narrows to GBP3.6 million from GBP5.3 million the previous year. Total assets at the end of December fall to GBP12.2 million from GBP15.4 million at the same time a year prior. The company says, unless there is a "significant" disposal of assets, it will be in the long-term dependent upon debt repayments from Argentina via Patagonia Energy Ltd.

27 May 2022 21:25

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IN BRIEF: Rurelec 2020 losses widens due to credit losses on loans

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IN BRIEF: Rurelec gets further USD480,000 payment from Patagonia

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IN BRIEF: Rurelec guides to 2020 impairment of up to USD10 million

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Rurelec taking 'cautious view' as Argentina negotiations continue

(Sharecast News) - Rurelec updated the market on the Argentine resolution on Tuesday, which governs the capacity and offtake revenue generated by the steam turbine at Energia del Sur (EdS), the Argentinian power plant owned by Patagonia Energy (PEL), in which Rurelec holds a 50% interest.

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IN BRIEF: Rurelec Gets Further USD380,000 Payment From Patagonia

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