broomfielder
01 Aug 2016
Hardly cheap borrowing..... ....but I guess the 18% Interest rate reflects the market view of Rur and the considerable risks associated with lending to it.However it keeps us afloat for a further period in what appears to be the increasingly forlorn hope we actually sell an asset AND get the cash for it.Given our apparent cashburn, the new facility will struggle to suffice for the 3 month period indicated.B
broomfielder
19 Jul 2016
Re: Hang on a second Hope you are right EH.Crux of the matter is, as you say, the asset sales. Can these be achieved and if so, can they be achieved before the Co runs out of Cash? That's the big issue. Or is it simply going to mortgage all (its interest in) its remaining free assets simply to keep afloat?That's also ignoring the fancy footwork of some of the past Directors and their questionable dealings with associated companies which may yet impact on precisely what sums RUR will eventually receive.B
Ewan Hoosami
19 Jul 2016
Hang on a second What's left of the board has been pretty scathing of the old regime. This would have been the obvious time to write off trade receivables and write down fixed assets even further and no-one would have complained. What we actually got was talk of a company unburdened by debt after the asset sales are over. Could it be this isn't quite the basket case everyone seems to think?SP is currently about 12% of NAV as stated yesterday. That looks just too low to me. A small punt may be in order.
broomfielder
15 Jul 2016
RNS With the expected 'after hours' RNS announcing both the lifting of the shares suspension (wef 18 July) and the release of the Full Year figures for 2015, the information contained therein hardly provides shareholders with much if any comfort IMO. It's difficult to see how the SP will avoid collapse on Monday.The reported PT Losses of £20m for the Full Year are not even the worst part! Rurelec is in my view already in de facto Administration with 2 former Accountants trying to run the show without the technical experience to operate the business. A whole array of former Directors have at various points now jumped ship and we can only speculate about their particular agendas as the Company is now effectively choked to death. Other BB participants are more colourful on these points and probably fairly close to the mark in many respects.R is insolvent and unable to meet its Overheads far less it's creditors. A NAV of 6.8p per share is accorded in the Audited Accounts but with ongoing short term facilities being required just to stay afloat, the NAV will quickly diminish and any notion of free funds will do likewise as costs continue to be accrued and which will be secured by the lenders Debenture etc.in any case.The assets we still have look extremely difficult to sell and doubtless if there are prospective purchasers, they will simply be waiting for Rurelec to expire when they can then the assets at minimal cost rather than closer to market value today.It's death by a thousand cuts......but as so often the case, it's the shareholders who are bleeding here! B
hughie8
29 Jun 2016
AIM crooks Just another bunch of AIM crooks - how many more? And how many more scams go uninvestigated by the AIM authorities?
broomfielder
28 Jun 2016
Share Suspension After much chatter (at least on other BB's), today's RNS announces the supposed temporary suspension of Rurelec's shares pending the release of the latest Audited Accounts.Given the silence from the BoD over many many months, the absence of some form of expansive comment on the underlying reasons for the suspension is not totally unexpected but is nonetheless reprehensible.We are thus left to speculate that the Company has run out of cash and/or the Auditors are unwilling to sign off the Accounts on a 'Going Concern' basis.Yep, it looks like we are bust!Hope I'm wrong, but it hardly looks good and if there was anything positive in the pipeline surely the RNS would have at least hinted at it.Best of luck - we are going to need it IMO.B
TheGreatGame
19 Feb 2016
Re: New Loan Best to post on all the shares boards to see if there are enough PIs with large holdings.I can see many are pretty angry at how we have been and are being treated.RUR has just been a vehicle for PE to obtain assets for nothing.Should be reported and investigated.
scotguyinsuffolk
18 Feb 2016
IPSA Just read the most recent RNS from IPSA' IPSA would be regarded as an AIM rule 15 cash she'll and would be required to make an acquisition ...Mmm... within 6 months ? Is that why our sp is being kept down ?
scotguyinsuffolk
18 Feb 2016
New Loan I am baffled ...How does a company which is wholly owned by another company in liquidation find GBP 850,000 to lend out to anyone ?And now this company is holding a debenture over all of Rurelec's assets ! ( Radix has undertaken to release its debenture over all of Rurelec's assets in favour of BPAC)This all seems fraught with danger to me !But , in any case , why is in necessary ? Exchange controls have been relaxed for well over 2 months now and yet...I quote..the directors are exploring how best to arrange for the company to benefit from CASH generated by the asset in Argentina ! At least we now have confirmation that Eds is generating cash ! Shareholders deserve a fuller explanation as to why there seems to be some impediment to funds returning to Rurelec.Are there any shareholders willing to collaborate and call a general meeting...we need 5%
scotguyinsuffolk
07 Feb 2016
Re: Lack of information Broom fielder....Glad to see at least a comment on this board. I am completely amazed by the lack of any news coming from Rurelec. It is a PUBLIC company after all ! I have seen active discussions on LSE and perhaps those involved have some decent holdings like myself , so it is reasonable to adopt a common approach imho. I would be very interested to hear from them.Suffolkscot
broomfielder
07 Feb 2016
Re: Lack of information SGIS - Forever the problem for PI's is as you say finding ways in which we can get answers to even the most basic and fundamental questions.My shareholding in RUR was never large and would I'm afraid now be negligible for your purpose here (having sold most at a loss etc) although I agree there must be merit in coordinating a common approach for the still many PI's involved here.In many of my other AIM holdings I have managed to have either a meeting with or telephone discussions with CEOs or CFOs which has helped considerably. I appreciate that in Companies where they are not so 'approachable' leaves fewer alternatives. Your suggestion certainly has merit.Perhaps some of the more active participants on other BB's could also be canvassed particularly as they allude to some fairly chunky shareholdings.B
scotguyinsuffolk
02 Feb 2016
Lack of information Hi, guysPlenty of speculation on other discussion boards about the obvious lack of information forthcoming from either the company or the nomad.If PI's can force a general meeting with 5% of the shares we will need about 28 million.There is a great deal of potential here and yet the current BOD is sleeping.Anyone else feel as I do ? Shareholder action group ???
broomfielder
20 Jan 2016
Still a punt but perhaps now some cause for hope That's my view anyway.Improvements politically within Argentina post election are the main reasons for optimism as this is effectively providing the keys to freeing up capital movements, improvements to Exchange controls/risk which all combine to create a climate which hopefully may encourage inward investment interest again as well as greatly improving the Country's own economy.Long way to go on these matters but I agree, the signs are encouraging.These events also provide something of a welcome tailwind to the Administrators of RUR's majority shareholder, Sterling Trust. What previously was an extremely tall order, the disposal of its shareholding in RUR now moves toward the 'likely' category although the price per share achieved at least for us PI's is anyone's guess. Yes there are views on 4p per share or more but they like so much assume rather a lot of politics also fall into place rather neatly.So in the vacuum that we PI's continue to operate, there are certainly encouraging signs but we are a long way off recouping past share values despite recent increases in SP. Investment in RUR now IMHO continues to represent little more than a gamble given the ongoing lack of official comment/detail etc from the Company. Hope is welcome but hardly the basis of investment decisions.Comments by a couple of contributors to other BB's have come close to hysteria but most existingHolders will be waiting for events to prove receipt of funds/loan repayments etc due to RUR before getting really interested. Even after that the disposal of ST's shareholding is also a very significant event for our Company's future and longer term clarityAfter the Bolivian settlement debacle I'm sure it will take a lot of progress before existing shareholders let themselves get excited about RUR again.However at least there is now a welcome glimmer of hope.B
broomfielder
07 Dec 2015
Share Price A substantial increase in SP (at least in % terms) today is always welcome driven no doubt by games being played which us PI's (uninformed PI's at that) can only guess at.There is currently a lack of liquidity in Rur's shares no doubt amplifying price movements and whilst considerable excitement appears to have been generated by Argentina's recent electoral change, we have more than a few hurdles to clear before we can move the SP anywhere near to the written down NAV.As always cash is king, and here we have a ticking clock in the former of our short term facility from Radix due to expire at the end of this month. It's already expensively priced so I'm sure the possibility of default would introduce fees/penalties sufficient to choke the proverbial horse.We need some news and we need it quickly - it's quite one thing to be more positive on prospects in Argentina etc but we need 'movement' in asset sales / JV discussions etc in the short term as Radix have security which they could realise / assign etc.B
scotguyinsuffolk
02 Dec 2015
Shares And how could he do that without cash ? And why ? He doesn't want to take over Rurelec ..he has enough on his plate to sort out Sterling Investments !He had no alternative proposals at the GM . It may be possible that others are building a stake in preparation for a takeover proposal.
