Member Info for Brightonscot

So we will know if the directors have any great plans for RUR …

On performance so far I’m not hopeful.

I’m amazed the SP is still 0.50p

So RURELEC will soon pay out 0.2p per share dividend.

It is now a cash shell with approx £1m in the bank. Enough to pay the bills for a year at least. But what then ?

The turbines have been in storage for 15 years and (as far as I know ) last inspected pre-covid. Argentina didn’t want them and RUR would need a partner with very deep pockets to initiate a project anywhere in the world. £1m isn’t going to cut it.

What happens if there’s no reverse takeover ?

Any suggestions ?

In summary, Rurelec's liquidity position will become acute during the second quarter of 2023.

Should be developments soon ?

Rather suspect share trades - seems like just marching up the price and selling the same blocks of shares ? Ria 20 was registered just a few days ago ? Any relation to the idiot who thought RUR had found millions after restructuring their accounts ?

Now in Q2 2023 and SP at rock bottom. Money running out ! Administration or liquidation ?

Having experienced Polo Resources being delisted and then disappearing from any scrutiny I have decided to form a Facebook group for shareholders of VOG to discuss what’s going on and keep up to date. If you have Facebook search for VOG Investors and quote LSE Brightonscot to join the group. It would be good to get others opinions and insights.

If anyone is interested in forming a group to investigate the company and co-ordinate a response please search on Facebook for POL Investors and quote LSE

We need to assemble as many shareholders as possible to put some pressure on management to come clean and update shareholders about the real situation

As can be seen from Paul Shackleton’s letter on the future outlook the only realistic prospect of any value being returned to shareholders lies in selling the two turbines in storage and to a lesser degree possibly some value in selling the Chile licence.

Anyone know a white knight please ?

The repayments from Argentina, if they continue , will be long and painful - exchange controls and transfer costs reducing their value - so it’s simply a case of keeping the patient alive and no contribution to recovery whatsoever.

As I have said all along we need to find a buyer and dispose of the turbines.

Otherwise everything will simply drift along and we’ll be in the same place in June 2023 !

Looks like somebody dumped more than 6m shares on the small spike yesterday ? Not many investors with that many shares !! We haven’t heard from the joker …oh sorry …riddler lately ??? Mmmm

The problem with the NAV is that there are two main components -

USD 9,000,000 attributed to the value of the unsold turbines in Venice. They have been there for 10 years ! Not sure when last inspected . Old tech and similar units on sale elsewhere. Would they even achieve that value as spares ?

USD14,000,000 Outstanding loan notes from EDS , Argentina. It’s uncertain as to the ability of EDS to be profitable in the current economic situation so when these loans can be repaid is anyone’s guess.

Anyone suggesting a share price above NAV needs to explain how that could be possible in current circumstances.

If anyone knows otherwise I would be delighted to be proved wrong !!!

Unless by some miracle they have sold those two turbines …this is a false Dawn ! Argentina isn’t going to start making payments anytime soon. That’s just not going to happen imo

They seem to have gone underground. I have also sent an email but no reply.

Anyone have any up to date info ???

Any shareholder who may wish to network with others - please see Facebook group POL investors to share comments and info

The articles have been recently restated on the company website

http://poloresources.weblite.com.my/WebLITE/applications/News/uploaded/docs/Polo%20Resources%20Limited%20-%20Memorandum%20and%20Articles%20of%20Association.PDF

The company report for 2020 is well overdue.

I don’t know where the company is registered - anyone know ? It’s not in UK - no listing at companies house.

Also - any investors want to join a Facebook or WhatsApp group ?

Was that Riddles dumping 6.5m shares last week ? Seems to have vanished !

Accounts need to be filed with companies house by 30th September ? Not going to happen without an AGM ?

Where , oh where ? Is riddlers pot of gold ??

No announcement of AGM yet but if we are to get our accounts approved at an AGM and filed before 30 sept 2021 it will have to be soon. Can’t wait to see our new NED’s contract of employment . Although there hasn’t been any confirmation filed at companies house as of today of his appointment.