Member Info for Leicesterboy

I have now got to the bottom of this I think, the Turbines are still in Storage with Ethos, they have not moved ! We owe IPSA for the storage as IPSA owe Ethos for Storage, as it was showing in IPSA Accounts to 31st March 2016. Basically they will not let us sell the Turbines or even move them till the outstanding amounts are paid so not only do we owe IPSA £1.3 for the Turbines but also the storage costs which adds up to £3.7 million or thereabout, which even you look at its positive Storage costs in the accounts for the 2 years to 31st March 2016 were £638000. anyway what is a million or so if you can sell the Turbines ! LB

Great News, first of all they are getting Repayments from Argentina and secondly its better than last year ! Plus now out of the Receipts from Argentina they are able to clear the monies owing by IPSA to Ethos Energy for the Turbines which are valued at £16 million. I think that the total amount owed by IPSA to Ethos for the Turbines is more than we owe IPSA. So obviously something is in the wind I would have thought ! Although very slowly ! LB

In the annual report one was to be used at the Arica project ,but due to the problems the company is looking for a refund of the Purchase Price of the Land and a buyer is to be sought for "the turbine", so we will still have 1 Turbine ! Report dated 15th July 2016. Why do they employ so much Staff as nothing seems to be happening, what do they do all day ? LB

If not settled with in 14 days, or by a defence put in, or set aside, it could result in a Winding up order, its usually a scare tactic, some can be set aside very easily as the demand has to be correct in all aspects, in most cases very difficult to get a result, IPSA are still owed £1.3 for the Turbines in the balance sheet at £16.195 million, not quite sure why they have not been sold unless the Chile project is nearly "there" Not quite sure why we owe Independent Power Corporation as we gave the "thing" to Peter Earl for £1 ! Our Net assets are over 7 pence and we stand at .90 of a Penny ! Peter Earl is up to something

Yep definitely a recommendation but a caveat check there debt loading ! LB

I got an email from Moneyweek who subscribe to but hardly every read ! and some guy has written about 6 Penny shares to invest in he was recommending Mytrah mainly about renewables and other forms of power producing away from Fossil Fuels, and in the same breath as Mytrah he was I think recommending Rurelec ! Well it nearly struck me down ! Little old down but not out Rurelec ! I will read it again just to check ! LB

I think someone got wind of it ! Reading the Administrators report on Sterling, I think they said they were in negotiation with someone re the Sale but could not say who ! The only comforting thing is that they have Net assets of over 7 pence after write downs, they tell us so little, are they getting Cash from Argentina now, I assume so as they have not borrowed anymore money, but we do not know ! It was a fairly positive last report ! WTFDIK LB

Do Sterling Administrators know more than we do ? If so how ? Do they get trading updates or is it they want a man on the inside ? LB

We have £1.2 million with interest at 1% per month, and £400000 at 18% per annum till 30th June 2017 ! As you say Optimist looks like they are not looking for anymore Cash ! Lets hope so ! and lets hope they get the outstanding $1 million which with the deterioration in the £1 to Dollar looks like it could cover the cost of the Borrowing ! LB

Quite an interesting movement yesterday upwards and then someone dumped over a million, so MMs left with stock hence the fall back they will want to be rid of the balance so a good time to buy one would hope ! Not even up its Nominal Value yet ! Crazy ! Lets hope that the more than positive report a few weeks ago can convert into a Share Price rise with Rurelec being back on an even keel, I am sure we will be sold in the end ! The Receivers of Sterling will want some dosh ! LB

I must admit I felt the same having read the 6 months figures, a lot more positive in its tone and rhetoric so fingers crossed things are turning the corner, the Chief Exec is a man of some standing, so hopefully we have had all the bad news, and we are moving forward again, yes the Market Cap is very low, fill yer boots I would say, but too many bitten here badly ! Heady days of 13 pence ! But I shall continue to top up in due course ! The standing bit applied to Sir Fred Goodwin before he ruined RBS ! LB

We have 2 Siemens Turbines bought for 16 million I think pounds ! Interesting ! LB

The RNS I will be nearer to the end of the month if there is one ! LB

The article is on Share Profits, the reason for the miss spelling is it seems to scramble its real name ! I do not think the guy writing it has read the Accounts very well, but there is no doubt we are close to either a successful outcome or not, the Administrators need paying re Sterling so me thinks it will be a successful outcome, otherwise they would have dumped the shares long ago ! again it all depends on "success" ! and rose tinted glasses ! LB

Old hat that was dated 1st August found it on ************* ! One never knows Administrators say 5.2 per share, who knows ! But Directors said in July outstanding Loans will be settled by Sales by ended of September ! LB

I looked at Administrators Accounts they estimate that Quoted Companies will realise £15.85 million which if you assume that IPSA shareholding of 29% is worthless then they feel that Rurelec shares are estimated to realise about 5.20 per share ! All supposition ! and will it happen ? LB

I have checked the filing times for Sterling the Annual Accounts for the Year to 31st December 2015 have to be into Companies House by 30th September 2016, so September is an important date for all concerned, I thought the Valuation of the shares by the Directors at Administration was 4 pence not 3 pence ! but as GFD says most LTH have been seriously " scr......ed" I still think we will be sold but at what price ? Hopefully more that 2.5 pence ! LB

Hi Optimist I actually thought the 100000 was a sell when I saw the trade, amazing how it jumped with another buy ! Net Asset Value was 6.8 pence per share at 30th September 2015, but loads of impairments were thrown into those Accounts, just have feeling that we will be sold, everything is merely a holding operation till all the ducks are lined up ! The Management are not long-term that is for sure, due to their age ! LB

Hi Optimist you hit the nail on the bleeding head you must be a mind reader ! LB

Hi GFD as you quite rightly say very little stock about just bought 100000 at 1.149 and its immediately put the bid/ask up so my broker has said, so no one willing to sell ! I think September will be an interesting month, or lets hope so ! LB