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Started: Dibs61, 22 May 2024 07:29
Last post: Al180, 14 Jun 2024 09:18
I’m hopeful regarding the market for Hardides pre coated range.
After many years of waiting for orders following long periods of testing it’s good to see them taking an aggressive route to market. A quick search for “Hardide pre coated range” shows a lot of coverage from trade magazines.
I don't know if I'm being a shade to optimistic here but after many false dawns there does seem to be a different feel about HDD. One of the worst was that after some 13 years of testing with airbus and some 8 or so with Leonardo our 3 to 4 four years of sales are still in single figures of revenue.
I imagine the O & G industry will be positive with the pre coated range but will the aero sector be so bold. A first quarters update will be illuminating (In a good way one hopes!)
So onwards and upwards folks!
Very low valuation @ just £5m which is 1 x sales! And close to profitability.
Any quantity above 5k now goes to NT. Tick up coming ….
I agree. Refreshed commercial approach and new leadership very welcome. Fingers crossed more customer conversations and revenue growth continues strongly. We only want good news from now on!
Great news on both fronts. Trading has recovered completely and growing. Also now run rate cash positive by year end.
New CEO Matt Hamblin was what I was both hoping for and expecting. He took his previous company Keronite to profitable growth and it was taken over by Curtiss-Wright a largeAmerican company operating in similar sectors as Hardide. I expect Hardide to be taken over in due course following profitability.
All in all very pleased by this morning’s announcements.
Nice chunky delayed buy from Friday. Someone is accumulating here. My bet is it’s Graham Cooley adding to his stake.
As I keep saying this is going only one way now.
Started: peacestatue, 10 May 2024 08:39
Last post: peacestatue, 10 May 2024 08:39
Dear Reader,
I would be interested to hear when Steve Paul buys shares here....
Started: peacestatue, 9 May 2024 09:35
Last post: Dibs61, 9 May 2024 10:06
Well it doesn’t appear as if Graham Cooley is unduly bothered about the A of M. lol
Looks like he’s adding agajn to me…. ;)
As I perused the Notice that an update is coming soon and I note SP is close to all time lows
despite all the progress. A propect that has been been seen countless times.
That may be in the Articles of Meorandum there is a secret clause that prevents the company of making a profit
or not commercialising any work done.
Started: 2reincarnated, 3 May 2024 12:11
Last post: 2reincarnated, 3 May 2024 20:36
Agree 20p but 1p first!
Your guff is cheap gut rot
#followthesmartmoney
tp 20p+++
Hardide had a cash call recently and will have another one later this year. Placing will be at 1p!!
Started: DellaDella, 1 May 2024 10:45
Last post: Dibs61, 3 May 2024 14:07
Hardide fully funded for the remainder of this year by which time they will be EBITDA positive.
Massive recovery potential in terms of SP appreciation. Get in now and I can’t see any losers.
Just followed his example and used this opportunity to increase my holdings. Time will tell if this will have been a good idea!!. Rgds, S
Hardide TR1 from Dr Graham Cooley moving from 4% to 5%
Strong endorsement....
DDx
Started: Dibs61, 25 Apr 2024 18:22
Last post: Dibs61, 2 May 2024 09:41
So I was correct on the stakebuilding by Graham Cooley. An excellent pointer to this companies prospects. He will have done his DD.
I see this doubling minimum next six months. And it shouldn’t be forgotten they are looking for a new CEO. If Matt Hamblin is given it that means the strategy is clearly to be taken over by a large coatings company or similar which will be at at a very considerable premium to the current derisory valuation. Ridiculous valuation despite stale bulls moans and groans. People who bought in a lot higher will want some of their money back.
Nice buy and tick up. Results in a couple of weeks which should provide some future guidance.
467,000 shares snapped up today. That is 0.6% of the share capital in one day.
Graham Cooley had increased to over 4% last month. I wonder?
Whatever, it’s very positive. And I am very confident this will be higher than 6.25p in a few months.
Started: 2reincarnated, 29 Apr 2024 14:24
Last post: jollyspeculator, 30 Apr 2024 15:39
They just had a cash call
keep up
tp20p++++
Don't worry a cash call will fix it, me says about 2p!
Started: RichieRichie, 4 Apr 2024 07:59
Last post: TruroTrader, 26 Apr 2024 15:49
Very small article in todays Times, apparently Weir pumps are experiencing an increase in spare parts. Perhaps more grist to the mill?
I think there are just a few tired stale bulls here. For some it has been a very long wait and it’s hard to see the wood for the trees. But things are changing here at last.
The orders are coming and it will be a snowballing process.
It’s difficult to see where the orders are coming from if the end of HCP doesn’t produce some significant results. I suppose it’s perfectly possible that companies have decided not to change until they have absolutely no choice which would explain the, so far, disappointing returns from aerospace.
We've done a fair bit of testing with airbus, 13 years, and about 8 years with Leonardo's. I'm not to sure about other aircraft companies - Not more years and years of testing - surly not!
Per the year end results announcement, "The EU and UK Reach regulations currently have an end date of April 2024 for the use of the toxic hexavalent chromium chemicals used in the production of HCP". The hard chrome plating phasing out in aerospace has been talked about by Hardide for such a long time. Well now the phasing out of HCP has happened when will we see the flood of aerospace orders for Hardide?
Started: jollyspeculator, 17 Apr 2024 12:46
Last post: Dibs61, 23 Apr 2024 21:16
Havealot - yes I think you are a bit short on research!!
Your post is wrong on several counts. Firstly You are correct they are still well short in meeting current capacity. However, once orders ramp up from multiple sectors plus new products range on stream selling to other coatings companies (!) capacity will be hit sooner than you think.
Your figure of £10m revenue to hit profit is way off the mark. The company have already stated they hit profit at between £7m and £8m.
Also, aerospace applications have completed trials and they are now starting to take orders for a growing number of parts.
There is a very substantial HCP market out there which will now legally have to use new technology to replace it and Hardide are perfectly placed to meet this need.
The future is very bright with a new proactive commercially focused board and a new CEO to be appointed. In the meantime the interim CEO is doing a good job.
Lastly a takeover here is nailed on imho at a price substantially north of this ridiculous valuation.
Win/win
The problem is that it is not just capacity. They are having trouble filling their existing capacity. They have said £10m turnover will see them into profit, however they are well short of this at the moment. I am not sure how much hard chrome plating is out there to replace. Also airospace applications require extensive trials with little volume to follow. What they need is a new contract for a high quantity, small size product, but I am not sure that a product of this type would have used hard chrome plating in the first place because of cost. It is a long time since I did any serious reseach on this Company so I could be wrong here. My holdijgs in this company much reduced over the years. But I suppose things are looking a little better at the moment, but it is all relative I suppose.
Agreed. And what’s more - when and not if - this finally moves into profit amd shows growing sales it will be gobbled up by one of the larger coatings companies. Just a matter of time especially with this ridiculously cheap valuation £4.9m! Seriously? With Hardides advanced market leading technology. All this needs now is scaling up capacity which will be implemented by a larger company with the necessary capex.
Some buying today but I expect this to be much higher in the next 6-12 months min 15p
And this is 10p++++
Started: RichieRichie, 11 Apr 2024 07:51
Last post: RichieRichie, 11 Apr 2024 07:51
On 15 March 2024, Innovate UK announced that Hardide was selected for grant funding, "New tungsten carbide electrocatalysts for resource efficient green hydrogen electrolysis (neWCat)
Collaborators:
Hardide PLC
Cranfield University
I can't recall seeing any Hardide announcement on the funding. In any event good news and it all helps. Look forward to more news on customer conversions, growing revenue and getting Hardide to safety.
Interesting RNS. There was something mentioned a year or two ago re other coating companies. This is a cracking deal - not only are we making sales to competing companies but the first order has been supplied and we've got the whole of the 2nd half to add to revenue which is sorely needed.
Surely, at long last, we have an upward revenue situation. What could possibly go wrong???
Encouraging sales and new product news. Hopefully more to come!
Started: Dibs61, 26 Mar 2024 14:24
Last post: Dibs61, 26 Mar 2024 14:24
26-Mar-24 14:16:55 5.50 26,678 1,467 O
26-Mar-24 12:34:00 5.60 26,678 1,494 O
Omg talk about short horizons! Lmao
Started: RichieRichie, 14 Mar 2024 08:11
Last post: RichieRichie, 26 Mar 2024 07:28
Hallelujah, great to hear sales progress announced today. Look forward to hearing more progress over coming months. #fillupthefurnaces quickly!
With the AGM coming up it would be timely to understand what Hardide are changing to unlock the revenue growth. Refreshed culture, strategies, short term revenue, new partnerships, entreprenuiral drive. Really would be great to hear what is changing to unlock the potential before Hardide simply runs out road.
Started: Dibs61, 12 Mar 2024 15:16
Last post: Dibs61, 12 Mar 2024 15:32
Don’t be fooled, those two recent trades @ 6.22 marked as sells are both BUYS.
Ex ITM CEO Graham Cooley has increased his stake from 3.1% to 4.14%
Looks like it’s slipped through unnoticed this time. Last week the SP rose on the initial news.
Started: Dibs61, 7 Mar 2024 13:41
Last post: Dibs61, 7 Mar 2024 13:41
07-Mar-24 13:36:46 6.29 12,361 777.51 O
Looks like a sell but Is my buy.
New CEO will make an AGM statement later this month on the 25th. Hopefully it will be more positive. I’m sure he will want to make his mark. He has a background of business turnarounds and transformation.
Started: Dibs61, 5 Mar 2024 11:09
Last post: jollyspeculator, 5 Mar 2024 13:19
Some pretty impressive validation (even more than from Dibs lol) from these stakes by serious folk
does this attractive tech have commercial traction? Really won't take much incremental sales, for positive snowball
In some ways, it doesn't much matter what your average entry price is (within reason!)
it's largely a binary play ...essentially 0p or 50p++
I’m still substantially down, average of circa 9.7p. I thought that was cheap when I bought!
I prefer to use EV to MC as a valuation metric and on that basis it’s currently £4m which, imho, is a snip. Nothing wrong with the company or product. It’s management lethargy that’s been the issue. I think that is finally being addressed now with a more proactive commercial focus.
We’ll see. If all else fails this is a hands on TO target for a bigger coatings company.
You're on to a good 'un
Dr Graham Cooley who recently stepped down as CEO of ITM Power has taken a stake in tiny Hardide.
Hmmmm interesting.
Started: Dibs61, 26 Feb 2024 13:43
Last post: jollyspeculator, 1 Mar 2024 14:45
Cannot challenge "illiquid stock" today
No matter what your view of Hardides progress this is NOT a bucket shop stock with bucket shop placings though the recent placing resembled one with a scandalous 21% discount to the SP. Disgusting IMHO. However, that said, investors in the placing are not, imo, going to be able to shift their shares even if they wanted to. The reason? This stock is extremely illiquid. They simply wouldn’t be able to offload on the market unless they could negotiate an off market bulk sale. And why would you when you have taken the shares at a going bust price?
No I don’t see overhang as an issue here. The issue is the fundamentals. Can they get the sales to drive the revenue back up? I don’t see a lot of scope for further downside here. It’s now a classic recovery play at this price.
Started: Dibs61, 27 Feb 2024 18:50
Last post: tbow112, 28 Feb 2024 09:41
It appears to me that the recent dilution can only be blamed on the FD and the company"s financial advisors. Sounds as if the auditors refused to certify the accounts unless the company raised more money.
It has been obvious for a long time that the company needs more financial leeway.
Hardide has a great platform, technology, customers (Airbus, Schlumberger, ExxonMobil, Graco, Halliburton, General Electric) well invested furnaces and delivery capability. I lost trust and confidence in the previous Chairman. Too much hubris, lack of honesty and waffle. I hope the new Chairman can refresh the board, management culture and drive the commercial revenues. Broadly speaking increasingly revenues from £5.5m to £6.5m ensures group is cashflow break even and £7.5m we are in profit with some resilience for customer destocking. An additional £2m of revenue within 18 months and Hardide will be generate a 5 to 10x return from current prices. Flipside is anaemic customer growth, more destocking, emergency equity and massive dilution.
EV here is now around £3m. Yes £3m. Small wonder there has barely been a sell since the placing last week. You’d have to be rather desperate to sell at these going bust prices.
I’m not going to set out the entire investment case, from my standpoint, in this post. But it’s convinced me to stick around and probably add more to average down.
The fact is this company possesses unique and, yes, disruptive technology. Yes I can hear all the counter arguments… never made a profit, poor management, lack of commercial focus, purely R&D Co., snails pace progress. All of those things are true to some extent. But the past is what it is, the Past.
What we have now is a company that is in rather a good place re their technology. It’s unique. It has a very large moat now. No one else can do what they can do. They have no direct competitors who can compete with them on a level playing field with their technology.
It just needs a management team that can unlock the value and potential.
I saw several promising snippets in the recent results that might have gone unnoticed.
I’ll share them in future posts.
One thing I do know is this company is def worth substantially more than £3m. Absolutely absurd when you look at the garbage out there on AIM that’s valued at multiples of that price.
Started: jollyspeculator, 22 Feb 2024 12:06
Last post: jollyspeculator, 26 Feb 2024 12:00
17m placing shares
how many sticky? 6m?
we've seen best part of 1m already snapped up in the (secondary) market
i'm edging around to a buy...but feel pretty confident the overhang will limit sp rise
20-30% discount to placement price
I'm not so confident in this case: the play is decent; the possibility of a bid lurks; and they didn't issue that many new shares
tp 4p
Started: Dibs61, 23 Feb 2024 13:08
Last post: Dibs61, 23 Feb 2024 13:08
John Peter Lobbenberg - an 84 year old former Chartered Accountant (not normally the kind of profile that take huge risks!)
Also previously ran a Portfolio Management group.
This company is currently priced to go bust. I’m roughly 50% down with an average of 9.75p
But tempted to average down because they will either get taken out or recover, or both.
Started: saintly, 22 Feb 2024 10:29
Last post: hayashi, 22 Feb 2024 11:43
This company has been run in a criminally incompetent manner for years. It's little more than a lifestyle play for a few people at the top. It has NEVER been self sustaining and keeps coming back for more funding to maintain the lifestyle support. This should never have been allowed to float.
Given the placing that is going on and the current share price is there a danger that this company is now "ripe for picking"? With the price so low and given the unique technology that HDD has does this leave the company open to a takeover. Danger in my mind is that someone could pick this up so cheaply and leave existing shareholders well out of pocket. I still believe in what HDD do and want to see us all share in their success but the way they are currently running the business surely raises a lot of issues/questions. Hopefully we can all weather this storm but I really think the company is so undervalued it really is looking like a steal!! Continued good fortune to one and all. Rgds, S
Started: ripley94, 5 Oct 2022 10:32
Last post: ripley94, 21 Feb 2024 23:22
Late in the day placing announced and closed by 6pm bookbuild @ 4.5p
Maybe it will fall to 4p neil777
This thread didn't age well
A placing at 4p all to raise 800k.. disgusting and AIM is lethal
New low of 5p today -8.7% but 10% spread .
AIM mugs pis.
Interesting to see appetite to mop up that sale
Unfortunately found some in ISA
Not worth much must of be there before 2019.
05 Mar 2019 Consolidation
Started: RichieRichie, 21 Feb 2024 17:24
Last post: neil777, 21 Feb 2024 17:30
130 000 fees for it????
It is very simple. Mr Chairman please do whatever you think is required to refresh the Board and Management. As shareholders we are tired of endless disappointment. 30% dilution and 16% placing costs is disgusting but reflects poor performance over many years. Please just fill up the furnaces, turnaround the operational performance and failing of previous Chairman.
Started: jollyspeculator, 15 Nov 2022 12:08
Last post: jollyspeculator, 15 Feb 2024 15:28
Any compelling reason to buy given what they're sayin??
Can accord seem to be a bit in and out.
I'm watching for trend change
still placement overhang, and no visibility on fcf+==>always potential for yet more placements
am not in here but not I don't think Canaccord are dumping, they bought/added in the placing recently ?
World of Pain
tp 5p