Questions for the Board should include .
How come we spun out a company ( Independent Power ) ,valued at $250 million for a nominal sum ?
What happened to the cash from the Bolivian asset ?
Why are we not selling the Argentina plant .As monies have always been hard to return to the Parent Company ?
Which of the Chile/Peru assets do we still own ?
Current valuation estimate ;
Argentina $55 million +
Chile $65 million ( partner required)
Peru $7 million
With a a current MCAP of £10 million perhaps Mr Morris can be a hero and return a good proportion of equity to Investors , by selling Argentina and concentrating on the more business friendly South American neighbourhoods . Rurelec has been a veritable collage of mistakes and time has come for change . Are the present Board capable ?
For shareholders this company has been a wild ride . It is time their faith was rewarded .
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