Member Info for optimist13

Website working fine for me at the moment.

Bought a few more this morning. Prices moving up despite the spread. 2.78p to buy v 2.40p to sell. I reckon the 'official' bid will go up on the next purchase.

hereandnow - thanks for the heads-up. Bought a few this morning and will see how it develops. As you say, at the current price it represents very good value.

jeddicat - this is a very illiquid stock at the moment and the price has been dropped purely on the back of the sells this week. IMO nothing has changed and the fundamentals of the business get better every day. Just as it has dropped quickly on relatively few sells, it will go back up on a few buys. I have to confess to selling some this week to cover an unexpected bill, but I will be buying them back in the near term. Still holding over 4.5m, so I am not going anywhere. Have a good weekend.

share price moving up on virtually every purchase now. The next buy should clear the 1.70p offer and we should then see an uptick in both the 'official' buy and sell prices. LTH's will now hopefully see a gradual recovery in the share price to reflect the value of the assets. Of course, this will not be fully realised until the outstanding creditors are paid once some of the assets are sold.

A few buys coming in this morning. It is not going to take much to move the price up. As I said on Friday, it looks fairly certain the company is now cash flow positive brought about by the improvement in the working capital position at EdS. Don't forget, EdS owe Rurelec £37.5m in outstanding borrowings and interest.

Just checked the interim report. At the end of June, the company had £9k of cash in the bank and took out the short term loan on the 1 August for £400k. So it would appear, given that they are not looking for any further funding, that they are indeed at least cash flow neutral. Whilst the rate of interest is high at 18%pa, it is no more than Rurelec are charging on some of their loans to EdS. Have a good weekend all. It will be interesting to see how investors react to the news next week. I see the 100k purchase of shares at 4.28 moved the price up immediately. Think we could be testing the 2's again next week.

You are right about he waiting, but I believe the picture is improving with each passing day. Overheads have been slashed, the working capital situation has improved at EdS which should mean that the repatriation of funds will now increase, and the exchange rate is working in our favour. Dare I say it, but we may actually be cash flow positive now, in that we are not seeking further funding, but merely an extension to the current loan until some of the assets are sold.

And we have it: Extension of New Short Term Loan Facility Further to the RNS dated 1 August 2016, the Directors of Rurelec PLC (AIM: RUR), the owner, operator and developer of power generation capacity internationally, are pleased to announce that the Company has been granted an eight month extension to the term of the Bridge Properties (Arena Central) Limited ("BPAC") loan facility of £400,000 to 30 June 2017.

Expect an update later today or at the latest Monday on the renewal or repayment of the short term loan through Bridge Properties which expires on Monday. Given the recent update from the Administrators for Sterling Trust, I suspect the loan will be extended, but hopefully I will be wrong and some assets will have been sold allowing the repayment to the outstanding creditors as well as repaying the loan.

For those interested in what is happening in Argentina, I post below a link to an interview just released in Time Magazine with President Mauricio Macri. http://time.com/4540977/mauricio-macri-interview-argentina/ As the song goes: "for the times they are a changing"

Whilst there is nothing materially different in this report compared to the previous report, it does confirm their belief that the sale of the Rurelec shares, being the only real asset, will result in a positive outcome for the creditors. Also, there is a reference to obtaining additional monies from previous directors of the company! So, the extension will allow the administrators to gain maximum value for the stakeholders, which in turn will benefit other shareholders in Rurelec. We just need the update from our directors now on the sale of assets and the repayment of the short term loan.

Administrators report now available to read online: https://s3-eu-west-1.amazonaws.com/document-api-images-prod/docs/LLri_7y-tyL15DvE9crxfVlEoCSBtb_ElQ5WW1PGAxU/application-pdf?AWSAccessKeyId=ASIAIZEC3O4J4N3OYELA&Expires=1477380108&Signature=dJBs6NT%2BUZ3cY37sr55dgLVaGx4%3D&x-amz-security-token=FQoDYXdzELL%2F%2F%2F%2F%2F%2F%2F%2F%2F%2FwEaDBGPDABm4RnMdUlYXiKcA6TXAY89ym7wVzvoNCwSOvbVddsaNAVRz6OIx4bUFgJdn4QyKsL2NvnjoChyuCFGji61Q8N5kKITkzkOK12mU8ofA2AhtesuNOh%2B511LPgCvtixUnmUNaTQ%2FWLR8Tvf6NZX5ASROrY7bZ4BmceUEnuFhlH%2BmkTw5j3vMNRYaa1mUGHiSOm7xVWX84rUz0myX1acNiGzTV593YUuqAUzeexY04TEXlSM4lXfS8yXsW3pJ7eN3CtFH1gAUzhUh7VKvQ5oJpm9ltidJwscoC5s0YR1AIPEzeMPS%2FMr1ZEUzH2SfwxmxxeFRAjsgGX%2FoZYmZP2NYGoqryiuus4ARNu0vxqzeR43Znxgod3r0J1d1%2Fqwn1hvHP2HSZkVIknOufhPr7Zi8wRMzNK9Tl1RLOy%2B8csFFgl%2FS5AWyC3ux6v0AQT9yt1NLRZOkpjS32PYyZKCdJdXbiagkD0nINsvP1%2FPkC%2BLzuPfd2rwmLbfiT6%2F%2BzPzQ2YBZbQvabCzTA%2FfQ8x8lyLKXlH2EaWfd8u8eVGJf%2FmAHB0%2FPN4IuFo49QQ8o7d66wAU%3D

The MM's are just trying to get some cheap shares. Once we get the chance to read the report from the administrators for Sterling Trust, which I feel sure will demonstrate a likely positive outcome on the sale of the shares in Rurelec, the share price will move back up again. It would not surprise me if the MM's are not already aware of what is in the report, given that the creditors have agreed to the extension.

The MM's may have dropped the bid, but they are still asking 1.70p if you want to buy. Still expecting the administrators for Sterling Trust to realise a sale price of circa 4.00p for the 54% holding, given the improving situation in Argentina. The question is, will the buyer of the block of shares make a bid for the remaining 46%, or will the company remain independent.

Nothing to worry about IMHO. The administrators for Sterling Trust have been granted an extension and have submitted a report. Unfortunately, I am unable to read it for another five days on the Companies House website. We should be receiving an update from the company in the next few days regarding the repayment of the short term loan, and I have the feeling that the end-game is not far away.

Another positive article on the growth and opportunities for business: http://www.reuters.com/article/argentina-tech-idUSL1N1CN1GD Extract: "As he looks to grow his company, which produces luggage that automatically locks and can be tracked via a smart-phone app, Saez Gil said his home country offers the best mix of startup-friendly cost structure and a highly educated population with engineering skills. And when Macri removed long-standing currency controls, eased reserve and deposit requirements for overseas investors and cut a deal with its foreign creditors, effectively reopening international debt markets, Saez Gil was convinced Argentina would no longer scare off potential investors. Like other tech business leaders interviewed by Reuters, he was also attracted by the potential of the president's now-passed "entrepreneurs' law" allowing businesses to more easily be incorporated. Under pressure to turn around a sagging economy long reliant on commodities like beef and soybeans, Macri is hoping a nascent tech sector can provide a fresh source of growth. Raising investment in the tech sector to 1.5 percent of gross domestic product is one of his government's key goals as it looks to boost production and employment."

The investments keep on coming, which will increase the demand for electricity: http://www.chinadaily.com.cn/business/tech/2016-10/19/content_27106293.htm Extract: BUENOS AIRES - Chinese electronics giant TCL Corporation plans to invest $100 million in Argentina over the next 12 months, Argentina's government announced on Tuesday. The announcement followed a meeting between Argentine President Mauricio Macri and the CEO of TCL, Li Dongsheng, at the presidential headquarters and residence in Argentina's capital Buenos Aires. "TCL Corporation, based out of Huizhou, in Guangdong province, is one of the largest firms in its field, producing mobile phones, televisions and home appliances, among other consumer goods," according to a news item posted on the presidential website.

Well, no update from the Sterling Trust administrators as yet on the Companies House website. As previously stated, they will need a new authority from the creditors to extend their work. I suppose if they are achieving a higher price for the block of shares, then it will be well worth it.

The authority of the Sterling Trust administrators expires today and will need to be extended if the wind-up of the business has not been concluded. The 53% shareholding in Rurelec is the only real asset they have to dispose of and will want to ensure they obtain the best possible price. They and their advisers have now spent a year in discussions with interested parties, so one would hope that a successful outcome will ensue. Meanwhile, our directors will hopefully have concluded the sale of our assets in Peru and received the deferred payment of $1m on the sale of the Canchayllo asset.