broomfielder
03 Nov 2017
Is the phoney war ending? With time running out for PE to make an offer or withdraw, it seems finally that recent share trading activity is finally reacting to the considerably greater number of purchases than sales.I'm not normally one to speculate on MM's activities, but the increase (at time of writing) of c23% on moderate buying does tend to suggest the MM's may be short of stock despite their previous efforts in holding the SP as low as possible .......for whatever reason.Perhaps we LT holders are finally going to see some fireworks, with the SP going up like a rocket etc............sorry!B
broomfielder
01 Nov 2017
Takeover Offer from P Earl Regretably the Market seems to be taking the view (in the form of an ever reducing SP), that PE is the only game in town and history suggests he certainly wont be paying top dollar or anything like it.RUR shareholders are very limited in what actions we can take here, unless of course, the Administrators of Sterling Trust are onside and compliant with any strategy suggested etc.This in my view looks increasingly unlikely and whilst given their controlling interest in RUR, they dont technically need the wider shareholder support, I would have thought a coordinated reposte to PE would better serve us all. YF Finance with their 17% holding surely must be looking to secure an acceptable position.The nagging doubt I have here is that a deal will be struck with the Administrators which legally they may have to accept (given the absence of any other offer within a reasonable time) but which may fall well below many of our expectations.Quite honestly, legalities apart, any 'normal' shareholder which owns c54% of the Ordinary shareholding should themselves be looking to acquire RUR. This would clearly involve a considerable fund raise and probably be beyond an Administrator's remit, but not only would it stuff PE but equally raise the possiblity if maximising the return on their investment.In looking at RUR's 'business model' as it is today, this is not totally wishful thinking. It could be commercially sustainable and provide control over the asset disposal programme. It would have then have its exit.Unless of course their (i.e. ST's Administrator) 'appointee' made some months ago to the RUR BoD has fed back some contrarian information on how realistic these mooted disposals actually are.As it is we are in danger of 'ball watching' when there is every possibility PE will walk the ball into the empty net.B
broomfielder
23 Oct 2017
IPC and PE Yes, all part of PE's quest for world domination.....at least as far as power generation in under-developed countries are concerned.Unfortunately for RUR shareholders IMO, is that there appears to be only PE actively looking to aggressively grow his exposure to the power generation sector in high risk political locations such as South America and now sub-Saharan Africa.I say unfortunately, because of course our BoD will be no match for the street-smart PE who will happily now adopt similar tactics to those employed by Bolivia in procuring RUR assets for next to nothing. Can't imagine our BoD are in the same league as PE and that must be a worry for shareholders as we seem to rely on our proxy 'champion' in the form of the Administrator of our largest shareholder, Sterling Trust to somehow ensure the inevitable fire sale of RUR doesn't totally incinerate our investment.B
Gold or Silver
23 Oct 2017
Re: RNS 11 April 2017 – Independent Power Corporation PLC (IPC) is proud to announce the establishment of a new power development company, QG Power Africa (QGPA). This joint venture, with engineering consultancy Tomé International and the US$250 million Quantum Global Mezzanine Fund, has been set up to develop power plants across countries in the sub-Saharan Africa region. It will focus, during its initial phase, on Angola, Botswana, Mozambique, Uganda, Nigeria, Kenya and Ghana. QGPA will expand its development capabilities to meet Africa’s fast growing demand for power.
broomfielder
19 Oct 2017
Re: RNS Given EdS is 50% owned by RUR, then today's RNS could be deemed intentionally opaque as of course all the info including whether or not EdS actually have appropriate Business Interuption insurance etc etc will be available and perfectly clear to our BoD along with all the other 'missing' info that should have been provided to shareholders in today's RNS.Perhaps we can rely on our Nomad, WH Ireland, to get things sorted out in between unwinding their Short position on RUR..........then again perhaps not! After all they know how useless current AIM Rules are.B
broomfielder
19 Oct 2017
RNS As we have come to expect from any RNS issued by RUR, today's provides an update of sorts but contrives to leave almost as many questions unanswered.'Minimum' loan repayments from EdS is certainly better than nothing but will obviously impact on RUR's planned repayment of its short term debt facility.When in 2018 is the 'planned maintenance' which should permit EdS to recover full capacity and recommence its loan repayments? Should be on record, so why not include it in the RNS?Meanwhile, we are left to guess what the 'material' impact is on EdS cashflow and in turn the quantum of what 'minimal' loan repayments to RUR will actually be.B
broomfielder
17 Oct 2017
When NOMAD's short Companies shares ..in which they advise, should be banned IMO.Latest RNS confirms that our NOMAD, WH Ireland have just about unwound their short position.Quite ridiculous that this is permitted under AIM rules.B
broomfielder
16 Oct 2017
Re: 7p OFFER? Dont disagree with 10p+ G or S as we all know asset values and the extent to which these are written down are largely opinion driven. In RUR's case, the write-downs look extremely aggressive in anyones language.As for a take over, an SP of more than 10p would actually be needed for me to break even! Yep, my investment here goes back a long way.B
Gold or Silver
16 Oct 2017
Re: 7p OFFER? A lot of shareholders will be disappointed with 7p .I still assume a value of above 10p is in order .Especially on a line through IPC .Best of Luck A
broomfielder
12 Oct 2017
Re: 7p OFFER? Never thought I would find myself agreeing with Alltold9!Quite honestly, an offer North of 7p per share is the only area where one would be even worthy of consideration.It may be slightly above the last quoted NAV ps, but many recent and previous write-downs have IMO been overly aggressive and have lead to the Net Worth of Rur being understated.Its almost as if it was playing into the hands of a potential Take over, perish the thought.B
NicholasNameless
11 Oct 2017
Not time to sell At this time it is in all holders interests to see the s/p settling daily at a higher level, so it's a BUY to enhance and protect existing holdings. To sell now is only likely to reduce the value available to be received in the not too distant future.
alltold9
11 Oct 2017
7p+ OFFER? That would do nicely
broomfielder
11 Oct 2017
Re: Takeover Offer from P Earl Unlike so many AIM Cos when initial 'approaches' are received, there is often very little realistic prospect of a deal materialising.However, in this case, PE has of course more than a little 'history' with RUR, and has always regarded it as akin to 'his' Co.Since the calamatous Bolivian settlement really forced his exit, he has harboured notions of again regaining control.So whether or not a realistic deal can be struck remains to be seen, but what we have is definitely a Party who can see oobvious potential in aquiring RUR particularly with the improved political climate in Argentina. He is also likely to know better what the prospects for completing sale of the Peruvian assets and completing the Chilean development than many parties (including shareholders).To have todays approach he will also had discussion with Sterling Trust's Admin and has doubtless been encouraged by the response he received (otherwise there would be little point in making any formal approach to RUR).So, a deal looks to be in the making - lets hope it can be structured to recompense the long term shareholders who have witnessed value destruction under PE's previous tenure.B
broomfielder
11 Oct 2017
Takeover Offer from P Earl Well the upsurge in SP this morning was indeed a leaky ship as the subsequent RNS has just confirmed.This approach was anticipated some time ago particularly when RUR was even more cash strapped than it is today, but arguably the exit route for any potential purchaser of RUR is now considerably clearer.Well in that case, he can pay top dollar in my book but it will be all up to the Administrator of Sterling Trust who of course controls more than 50% of RUR's issued share capital.Interesting times as they say as today's SP comes nowhere close even to the last quoted NAV of 5.5p far less the once dizzy heights this Co's SP has reached in the past.B
broomfielder
11 Oct 2017
SP Increase At the time of writing, its refreshing to see c25% uplift in the SP indicating that some are taking the view that EdS will indeed continue meeting their loan repayments to RUR and as a consequence our Co could become debt fres next year with coninuing positive cash flow.Added to that, there must be a chance however remote that might be that an asset sale can finally be concluded and if that is the case it would be genuinely transformational.You pays your money etc......B
