Member Info for optimist13

No, I can't make it, but I know that one of our numbers is going. They may get the 100k signatures, but I cannot see any change being made to the way the AIM market operates at the moment.

Agreed. I have just added 100k shares at 0.80p. MM's and their games! AGM tomorrow. Let's hope for some sort of update.

A couple of things happening in the next few weeks which should decide what shape Rurelec will take going forward. We have the AGM next week on the 10 August, but more importantly in my view, is the fate of IPSA. IPSA have until the 29 August to announce the details of a reverse takeover, otherwise the shares will de-list from AIM. We know that PE is still involved with EdS and probably pulling some strings in the background on everything else. I still take comfort from the the fact that the administrators for Sterling Trust are independent of the company and they have commissioned outside agents to test the market for potential suitors for the 53% holding in Rurelec. The short term loan also lends credence to the fact that a decision of some sort is imminent, but what that decision might be completely alludes me. Good luck to all LTH's here, I sincerely hope that whatever decision is made is in the best interest of all shareholders.

Hi jeddicat, the MM's are a law unto themselves. They deliberately widen the spread when they want to show buys as sells. Investors then looking back over previous days trades will see sells and could well be put off buying. Equally when they want the share price up they will narrow the spread and show sells as buys. Anyway, getting back to Rurelec. I see yesterday's announcement as fairly positive and believe we could hear of some asset disposal fairly shortly, and maybe before the AGM on the 10 August.

They were buys. I was monitoring the share price today.

I suppose the good news is that it is only for 90 days. They must be pretty confident that some of the assets will be sold and 'paid for' fairly soon.

Rurelec PLC ("Rurelec" or the "Company") New Short Term Loan Facility "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 a new ninety day facility by Bridge Properties (Arena Central) Limited ("BPAC") of GBP 400,000 secured by the existing debenture over the assets of the Company and will bear interest at a rate, pro rata, of eighteen per cent per annum." We need some of the assets sold pronto. A loan at 18% per annum when EdS owes us millions is not good business.

GFD, thanks for the reply to my query on the ownership of the other 50% holding in EdS. I am sure the administrators for the Sterling Trust holding will be keeping a very close eye on developments and will probably be instrumental in deciding the eventual outcome. I choose to believe that the administrators will act in the best interest of Sterling Trust shareholders and thus protect the interest of us lowly PI's.

Hi Brightonscot, I have emailed you, but thought I would also post my thoughts/questions here for completeness. Great to hear that you will be attending the AGM. When you do find out about the proxy form, I will nominate yourself to act on behalf of my holding. My main question is the complexity of the ownership and assets of EdS. The value of our investment has been written down, but given the improving situation in Argentina, will there be a reversal once funds are repatriated. Rurelec hold a 'first charge' over the assets of EdS. Can the directors confirm that this is still the case, and if so, what action do they intend to take to recoup the unpaid outstanding debt. Also, who really owns the other 50% holding in EdS. I have tried several times to find out, but just keep hitting a brick wall. Finally, given the value destruction brought about by PE and his cohorts, why is he still employed by EdS. He should be sacked. If I think of any further questions between now and the AGM, I will let you know.

That's a very negative position to be taking. How about...the company is pleased to report that agreement has been reached on further repatriation of the outstanding monies due from EdS. Also, because of our incompetence the directors have decided to half their salaries and take the balance in shares of the company at the net asset value price of circa 6.00p.

Spac3y - they keep saying they are short of cash, but they have the means to correct the situation. I have said it several times now, but there must be interest in our Argentinian assets and the loan book. A first charge on the assets of EdS allows the company to force the situation if EdS does not repatriate some of the monies owed to Rurelec. There are also the turbines which could be sold if need be.

Good point. It will be interesting to see what the administrators of Sterling Trust have to say on the matter. They have stated that they have several interested buyers for the shareholding in Rurelec and ultimately will have to agree whatever plans the directors have given the size of the holding.

It just makes you wonder whether this is a deliberate ploy by the company to frustrate holders. The results were promised week commencing the 11 July and have yet to materialise. So, do we see them today or are there going to be further delays.

Jignasha_Patel, for your information, I am aware that a significant holder has already been in touch with Pablo Galante. Irrespective of when the results are released, and depending on what is contained within the results, there will be an opportunity to table questions at the AGM. The positive thing for me is the improving situation in Argentina and the value of our investment there. I believe the rapid change in events has caught out PE and his cronies. They can no longer hide behind sanctions and currency controls and as I said yesterday, Rurelec hold a first charge over the assets of EdS. I am sure the directors are aware that the authorities have been made aware of the recent 'material' events at the company and the actions taken by current and former directors.

now 28.72p and rising. With plenty of news due from the company's main investments, and repayment of the CULS loan following the confirmation of the placing, things are looking very positive. With so much exposure to gold within the portfolio, the current share price is an anomaly which will realign eventually.

I cannot believe the utter contempt of the directors to their owners, we the shareholders. The company has a 'first charge' over the assets of EdS and if as many suspect, PE is blocking the repayment of the loan, the company should force the issue by calling in the loan and forcing the sale of the business. I really do hope the authorities take note of GFD's complaint and investigate both the past and present decisions made by the directors. This is looking more and more like a total 'stitch-up' of the shareholders with the sole aim of benefiting persons who are charged with acting in the best interests of the shareholders and not themselves. It will be interesting to see what drivel the current directors come out with when the results are released this week.

Mineral Mountain Resources up again yesterday....+9.33%

positive news from Merrex Gold on Friday: http://www.merrexgold.com/s/NewsReleases.asp?ReportID=754378&_Type=News-Releases&_Title=Diakha-RC-Drill-Results-including-70-metres-averaging-1.55gt-Au-from-the-Si... Extract: "We are pleased to report that the drilling program on the newly granted northern extension to the Diakha permit area has returned positive results and confirmed the extension of gold mineralization northward for approximately 600m along strike of the Diakha Deposit" said Merrex president Greg Isenor. "Of particular note hole SRC16-644 located near the centre of the extension area returned 70 metres with an average grade 1.55g/t Au. Additional drilling, both RC and core, will be required to better understand this extension to the Diakha deposit."

http://www.incaone.com/news/news_releases/index.php?&content_id=175 Extract: Inca One Gold Corp. Announces Equity Financing and Proposed Share Consolidation View News Release in PDF Format VANCOUVER, BC – July 8, 2016 - INCA ONE GOLD CORP. (TSX.V: IO) (“Inca One” or the “Company”) is pleased to announce that it is undertaking a non-brokered private placement for gross proceeds of up to $4,000,000 (the “Private Placement” or “Offering”). Concurrent with the Private Placement, the Company will also conduct a five to one share consolidation of its common shares (the “Consolidation”).

Positive news from Inca One Gold Corp. http://www.incaone.com/news/news_releases/index.php?&content_id=174 Extract: Inca One Gold Corp. Reports Significant Increase in Net Revenue Margins and Provides Corporate Update View News Release in PDF Format VANCOUVER, BC – July 8, 2016 - INCA ONE GOLD CORP. (TSX.V: IO) (“Inca One” or the “Company”) is pleased to provide the follow corporate update to shareholders. Net Revenue Margins Net revenue margin (“NRM”) from operations at the Chala One SAC (“Chala One”) plant averaged 40% for the first six months of 2016, nearly double over the same period last year. NRM, a key industry metric being gold sales revenue less the related cost of mineral purchasing, grew consistently from 23% in the first six months of calendar 2015 to 40% during the first six months of calendar 2016. Over the six months through December 2015, the Company enacted numerous improvements in the gold measuring and recovery processes, improved security, and began sourcing mineral with better deal terms, which collectively increased NRM to 33%. During the first six months of 2016, the Company began operating its newly installed desorption plant on site at Chala One, and continued to improve recoveries and mineral sourcing resulting in an average NRM of 40%. From January 1, 2016 through June 30, 2016 Chala One has exported approximately 92.2 kilograms of gold and realized gold sales of approximately US$3.7 million. Over the past 12 months the operational successes have been a reflection of the determination, hard work and attention to detail of the operating and mineral buying teams at Chala One.