goodflyingduck
21 Mar 2015
Last Tuesday saw a drop in the ... ... spread and, with that, the sp. On that day, it was reported that 187,714 shares had been sold and 133,500 bought. There is now showing on the LSE trades for Friday (yesterday) a correcting entry of 100K Buys to cancel out 100K of Sells on Tuesday. So, the actual figures for Tuesday were 87,714 Sells, 133,500 Buys - not warranting any drop. Might "mm" stand for "mischief maker" ??? GFD
goodflyingduck
04 Mar 2015
Re: ENAP tender? Hmmm ... wonder if it's this - a 165MW plant supplying 50MW to ENP's refinery and 115MW to the grid -[link] that's all in English so it won't tax the old brain cells !Or am I completely misunderstanding the import of the two translated items, swooped ?GFD
swooped
04 Mar 2015
Re: ENAP tender? And here[link] seeks partners to receive offers from generationWednesday, March 4, 2015Economy and BusinessIn the coming days, Asset Chile initiated the call for interested investors to be partners Enap in power generation projects that contemplates its investment portfolio. Sources say that Exxon figure among stakeholders, Samsung, Mitsui and Rurelec.In Enap and defined the different bargaining agreements for each project proposal resulting from management of Gas and Energy, and seeks to meet deadlines and get favorable terms for the state. In late March the progress will be reported.So it seems another possible project is being revealed........ all the ducks etc.
swooped
04 Mar 2015
ENAP tender? Make of this what you will, not the best translation but extremely positive if Rurelec have qualified for this new power plant tender. It is surely a measure of the progress Rurelec are making in Chile and in being featured alongside such companies as Samsung etc.[link] seeks partners to receive offers from generationIn the coming days, Asset Chile initiated the call for interested investors to be partners Enap in power generation projects that contemplates its investment portfolio. Sources say that Exxon figure among stakeholders, Samsung, Mitsui and Rurelec.In Enap and defined the different bargaining agreements for each project proposal resulting from management of Gas and Energy, and seeks to meet deadlines and get favorable terms for the state. In late March the progress will be reported.
Allisfair
04 Mar 2015
dont underestimate the threat from Malaysia. it could easily suck rur in.
Allisfair
03 Mar 2015
6.5 million premium to book value? none on lse are willing to deal witht his I see.
Allisfair
03 Mar 2015
wtf dont the lse mob get? this is equity so its debt issue. Nobody is giving rur 20 million so they can dish it out to shareholders.....
Leicesterboy
03 Mar 2015
Re: info I am misreading it or are they " The offer values the Equity of the illapa project at US $60 million" Equity I always thought was shareholding not Value of Project, so they are selling 50% of the Project which is 50% Shareholding or 50% of the Equity !Total Value $120 million of Project, not sure it would be $60 million as initial capacity is 256 MW where they sold the Canchallyo for about $1 million per Mega.I think in laymens terms the Project in a completed form is Valued at $120 million of which the partners will contribute $60 million, and Rurelec will contribute the rest to completion which will be at a cost less than $60 million so a premium to Book Cost ! and Rurelec will bank the Premium to Book cost of the 50% Equity sale of the Project !LB
Allisfair
03 Mar 2015
and back down we go....
forwardloop
02 Mar 2015
info [link] in Rurelec (LON:RUR) took off as it agreed to repay its loan facility with Radix after it sold a controlling stake in the Canchayllo hydroelectric plant in Peru.The Latin American power group expects to receive US$6.5mln from the disposal this month, which will be used to pay off £550,000 of the loan with Radix that is still outstanding and also to make a payment of £3.2mln to IPSA (LON:IPSA) for two turbines.Warrants issued to Radix at 7.3p will also be cancelled.Peter Earl, chief executive, said: "Our partnership negotiations are finally producing signed contracts."Rurelec has always intended to work in 50:50 partnerships in Latin America, as we have since our flotation in 2004, and that 50:50 policy continues with the exception of hydroelectric plants where our target has always been to own no more than 20% of any one plant."This policy allows us to maximize our involvement with the minimal cash investment per plant."We never intended to have so many greenfield developments on the go at any one time but that policy was forced upon us by the 2010 nationalisation of our Bolivian power plants, which were the main cash generators for the group.Rurelec added that its Santa Rita hydro project in Peru had also been included in Proinversion, the tender method for new capacity contracts.Power purchase agreements won’t be awarded until the end of 2015, but being part of the process will enable Rurelec to find a partner for the US$550mln, 255 megawatt (Mw) project, it said. It expects to complete the search for a partner at Santa Rita by May.Elsewhere, the potential buyer of a 50% stake in the Illapa project in Chile has been given the go–ahead to negotiate a detailed binding agreement, Rurelec said. The offer values the project at US$60mln.In Argentina, the company is still working on a way to release and get repaid for project loans to 50%-owned Energia del Sur, which continues to perform well operationally.Earl added: “We are now building new capacity to replace lost megawatts and we are successfully selling down stakes as we always planned to do.“The next step will be to conserve cash on our balance sheet in anticipation of a future return to dividends."Rurelec shares jumped 45% to 4.54p on today’s news, valuing the company at £26.6mln.
Allisfair
02 Mar 2015
lol...santa rita...in about 10 years from now!
Allisfair
02 Mar 2015
the lse crew are just totally deluded...I posted some time ago that deals were already being done in the background, the key statement was "premium to book value" and today we saw that statement blown out of the water as it's clear that it's been a firesale. Canchallyo was the damn that broke and if you are one for looking at historical trading then look at the huge dip presumably linked. End of the day this one will drift again as another update is many moons from now. The lse mob are just numpties that have once again bought one of these carrot and stick rns hook line and sinker
Allisfair
02 Mar 2015
lol...why on earth would anyone listen to swooped haha!
swooped
02 Mar 2015
An apology and clarification I mentioned earlier about valuations to GFD and made a classic error in trying to compare valuations between Illapa i.e. a 256 MW open cycle gas fired power development with Santa Rita a run of river hydro where one already has turbines purchased and the other not and that of Canchayllo a completed plant. Of course these various projects cannot have such a comparison made and in fact the valuations for hydro are generally much higher than for open cycle plants but of course the build costs are also higher.The rule of thumb is that you value open cycle gas turbine power plants in the United States at US $1 million per MW, which is the construction cost, and GBP £1 million per MW in the UK. In Chile the market values these open cycle plants at over US $1.5 million per MW and sometimes more. The construction cost at Arica and Illapa are well below these industry averages. Together the two plants come to 295 MW.Argentina is 136 MW of combined cycle gas turbine capacity. CCGT plants are usually valued at US $1.5 million per MW. In Argentina they trade at a small discount to that figure.Hydros cost US $2 million per MW to build. Completed, they are valued at US $2.25 million to US $2.5 million per MW depending on the power purchase agreements (PPAs) in place.I hope this helps set out the valuations and rectifies my errors earlier, one thing is for sure we are significantly undervalued at the current sp.
Allisfair
02 Mar 2015
lol...swooped never learns, how many carrot and stick rns have we had over the years and each one he just 100 percent buys it. fool me once shame on you, fool me twice....
