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Started: Alvinchipmunk, 29 May 2021 14:49
Last post: DaveT1, 21 Sep 2022 09:59
Looks like Andrew Black has the entire company now under his Slicker Recycling group.
Not really sure how that happened or what happened to the 10% Royalty of future earnings that was promised.
The moment Chris Ellis an accountant became the head , this company seemed to go into decline. How ? They have a proven technology to recycle used oil , the perfect solution surely ? The business seems to be modelled on the script of The Producers , Mel Brooks would be proud . I would like to think it could be turned around but it looks like the private investors have been shafted . I expect them to be bought out and no doubt the directors will walk away with a nice bonus and no questions to answer.
Started: Noddi, 31 Mar 2021 08:31
Last post: Noddi, 31 Mar 2021 08:31
91% down when I decided last year enough was enough. At least I called the end right, these companies should not be on AIM in the first place. #bitterpill. Lesson: just because everything sounds like it should work, doesn’t mean that the board have any real plans to share...
Started: Noddi, 24 Feb 2021 10:31
Last post: Noddi, 24 Feb 2021 10:31
lesson learnt, some companies want to grow and have shareholders interests at the heart, some use shareholders to achieve their private goals at minimal risk to them (and they don’t lose out). Reputation clearly not an issue and skin thicker than a rhino.
The annoying thing is they are not held accountable and just move the assets to a private company. #stopgamblingonAim
Started: Updown71, 3 Feb 2021 11:45
Last post: david.l, 6 Feb 2021 10:05
Going to delist, go into news above.
...and it’s now February. When will there be news?
Started: oldabutnowisa, 31 Mar 2020 17:11
Last post: oldabutnowisa, 31 Mar 2020 17:11
This is a pig! Haven't done much right but cut a loss on these years ago!
Started: Transformeroil, 31 Mar 2020 14:22
Last post: Transformeroil, 31 Mar 2020 14:22
Time to shoot this dog and put everyone out of their misery. Sold up years ago and hope all readers did so too.
Started: DaveT1, 14 Feb 2020 08:03
Last post: yrabsmurruc, 14 Feb 2020 08:45
sp back to pre consolidation prices [gulp]…… I had some of these at 5p way back ... first look suggested just stagnant, but actually this has ha a 10:1 since...… B
Recycling Oil - with the technology, plant & equipment in place who could possibly fail?.. especially over the last few years of climate wars.
It's just painful.
Last post: david.l, 14 Feb 2020 07:28
Another set of poor results, good luck to anyone still holding but I can only see this dropping like a stone , always sneak out bad news on Fridays.
Lord Moynihan resigned with immediate effect. Got to wonder if there is another reason behind the one given otherwise why didn't he work until a replacement was found?
Poor results and 2 bod gone in 3 months.
Started: legobrickgirl, 27 Sep 2019 09:47
Last post: Noddi, 1 Oct 2019 11:07
Use other peoples money to prove a concept, then take it private to reap the rewards - I do sometimes wish I spent 3 years following companies rather than investing, I am much wiser to these types "Investments" now :(
Yes bloody conned .I sure I wont ever buy aim stocks again
I said last October that A black would take this private for £1 , how silly of me, more like 10p now, l also said this is a private money box for all directors and this proves it. Sold out all my holding around 70p, very lucky , the day Ian sale walked or was pushed this shower have run the company like a bunch of 10 year olds, even ****sed off g&s , that's not going to help with feed stocks.
Good luck to any one still holding and the same if buying in, this scenario has happened to me twice before on aim not again.
So David Dinwoodie works for A Black then gets made CEO of hyr. Sells Aus plant to A Black then steps down and goes back to working for just A Black again.
Last post: doonman, 27 Sep 2019 09:41
Shocking results and shocking management. No updates to the market, just a value-obliterating set of interim results. "Lord" Moynihan should resign. It was less than a year ago that he was selling the pipe-dream of dividends following his months long "strategic review." What was the outcome of that, exactly? Summarised on a slide: "Let's sell yet another part of the business to Andrew Black. The End."
They've burnt through the cash raised and have had to go back to Black, cap in hand. Utterly incompetent.
Shocking results imo. As usual there has been lack of info throughout the year.
What has happened between hyr and G&S? I thought they were increasing feed stock but now we hear they have fallen out.
Selling Aus plant to A Black was a joke. Kept quiet until the sale was agreed. Another part of the business he has picked up cheaply. Just a matter of time before he owns the whole business and I bet it will be profit making within a year of him owning it.
So there is enough cash for another year with the additional loan from Mr Black. No way do I believe now that hyr will be profit making in a year so more financing will be needed. Good luck to the bod in hitting their target share price to get their rewards. That ain’t going to happen.
I used to own shares here many years ago..sold out at a loss obviously but always tracked it as I thought it was a nice idea. Looking at these results though I just don't think it's ever going to make anyone meaningful money - I've not idea why Mr Black keeps chucking his fortune at it.
WOW. That was bad results. The share price is now bouncing off the 15.5p support but I don't see that holding now. Probably back to being a penny share again then under a penny.
Your right, Mr Black will probably end up owning this company.
Illiquid share makes it like dominoes, when a large sell goes through it creates a knock on affect of others selling quite often with stop losses taken out.
It doesn't matter what the company says, all the market will be interested in is, "will it make a profit".
Total joke this company never any good news .
Looks like 38p or there abouts on its way with support broken.
Lack of news about Australian plant sold details should really of been sorted by now. In fact, lack of news all round does not help. It is all very well talking about increasing feedstock supplies but that just plays into the "jam tomorrow" title HYR has earned. What this company needs is actual figures released showing increased feedstock and a move to profit making.
It looks like until then, the share price will drift lower to that next support at 38p. After 38p, there is support at 34p, 30p, 20p and then 15.5p.
Started: rebelheart, 15 Jul 2019 11:23
Last post: johndean, 15 Jul 2019 17:44
rns on advsn was to do with hydrogen group.....not hyr which triggered some selling which brought down the sp
It can always go lower.
There is some minor support at 52.9p where it would likely touch up with the 50 day moving average. That will be my next buy price. After that we are looking at 38p for the next major support.
The company is forecast to make a small profit this year but I wouldn't be surprised for it to just miss the target as everything always takes longer than expected. I do think the company will come good at some stage, but it's just a matter of when.
Overall the company has put out pretty positive reports and there has been no signs of ii's selling out so I am just going to sit it out. Positive figures will be the proof of the pudding to get the sp moving in the right direction.
I Didn't think this could have went any lower..is there any light at the end of the tunnel..??
Started: legobrickgirl, 1 Jul 2019 15:01
Last post: legobrickgirl, 1 Jul 2019 15:01
Well the sale is going through but to be fair, we knew that already. The company needs to shake of this jam tomorrow reputation and giving dates for the sale of Australian plant and then missing them really does not help.
Moan over.
Yes, happy may have been the wrong word. Pretty much every year there has been concerns about feestock, so it was more to do with the contrast. Based on the reading from lots of updates, personally, I get the impression that they're pleased with the results from their feedstock supply push.
I'm not expecting, or at least discounting, anything from slickers. Nice if it happens but I'd much rather they concentrated on the US market. If we could swap the previous international plans, to US ones, we'd now be in a much better position.
They are progressing but they earned the label of jam tomorrow and they still need to prove with figures.
Feedstock up on same period last year but wasn’t that a quiet period last year?
Good to hear a bit more of other possible revenues. No news about alliance with slickers.
Is the resolution about buyback of shares a standard vote?
Hydrodec have had a hard time over the years and I think they will come good but they need to prove it with profit.
The sale price was in the middle of my ‘guesstimate’ of $1-2m, not wonderful but the possible extra revenue in royalty payments is welcome. More to the point, once complete, the onerous tolling charges will stop.
I’m surprised the needle didn’t move by much but the update belies/hides the potential. I can’t remember the last time when Hydrodec reported they were happy with feedstock supply. I’ve been following this for more than 10 years. This at a time when output capacity is 2-3x that of old. The multiplier effect kicks in only when they reach high levels of utilisation. The extra product line is something I’ve been expecting/waiting for a long time.
Moving into profit is now when, not if, but we do need a benign economic backdrop to continue, and there are some future headwinds on the horizon, not least of which are geopolitical.
I’m pleased with progress, and if they can get a foot inside California, that really would be game changing. I suspect it won’t be done alone, maybe through licensing or joint venture, and only once the current business model proves to watchers that it turns a profit.
Started: legobrickgirl, 20 Jun 2019 22:53
Last post: legobrickgirl, 20 Jun 2019 22:53
Did anyone go?
Has anyone noticed the last resolution passed at the agm?
Started: 42trader, 20 Jun 2019 10:26
Last post: 42trader, 20 Jun 2019 10:26
Hydrodec has released an encouraging AGM statement this morning with a number of positive developments which should start to crystallise the upside in the shares, notably the sale of the Australian operations and the potential addition of a complimentary product that could drive higher utilisation earlier than previously expected. The utility focus and market developments are also making progress, justifying the Group’s strategy and the Board remains confident in the outlook for 2019 and beyond. Reiterate buy.
The Group has announced that it has agreed in principle the sale of the Australian plant for A$2m (US$1.4m but excluding decommissioning and associated costs). The expected closing date for the transaction is 30 June. While the disposal proceeds are below our expectations of US$2m, we welcome the transaction and see a small incremental positive development in the licensing and royalty payments to Hydrodec which are not factored in to current forecasts.
New supplies of feedstock to the Canton plant are at record levels with a number of new suppliers now delivering to the facility. As such, refining volumes are ahead of 2018 levels of c. 50% utilisation and accelerating towards our current year forecast of 70% utilisation.
Hydrodec has identified a complimentary product line with a large existing market, using parrafinic feedstock (instead of napthenic). While the main focus remains on building up the napthenic feedstock supplies to drive SUPERFINE sales, the Group is currently negotiating to purchase parrafinic feedstock to market new products, raising nearterm utilisation which should ultimately be accretive to earnings.
We make no change to forecasts at this time. Hydrodec trades on 4.1x EV/EBITDA, 7.7x P/E, 6.9% dividend yield and a 16% FCF yield (all 2020E). We believe the existing assets and potential for high cash returns are extremely attractive to equity investors at current levels and reiterate our buy rating and 100p price target.
Very positive update though I must point out that the plant is NOT sold yet. As usual with most things in life, everything always takes longer to do in reality.
It will certainly be interesting to see the full deal figures at end. As usual though, this might still run later than June but I wouldn't worry if it does.
Lord Moynihan and David Dinwoodie certainly are working hard and spending a considerable amount of time in the US.
The new paraffinic product line is very good news. Shows there are looking at new revenue streams and one with a good feedstock from.
HYR could well of now seen the bottom regarding the share price. A lot to do still this year and things WILL probably run behind schedule but overall I am very happy with this progress.
Looking forward to hearing from the AGM today.
There you go 42trader. Australian plant sold for 2 million Australian dollars + royalties for minimum of 7 years.
Started: legobrickgirl, 20 Jun 2019 09:04
Last post: legobrickgirl, 20 Jun 2019 09:04
That was certainly an interesting read. Looks extremely positive though they still need to deliver. Should be a good rise today I’d guess and further news to come later.
Seems some are getting itchy feet and sold out. I can understand that as AGM is just 2 days away and no news of the sell of the Aus. plant yet.
Possibly a buying op if the plant sale is delayed?
Started: legobrickgirl, 28 May 2019 19:26
Last post: nastid, 29 May 2019 13:42
Thanks legobrickgirl, and you.
Yeah, its a long way to travel, and it finishes pretty quickly.
I would think 1-2 million for the plant. It’s a buyers market as they say.
This site has missed the second rns stating AGM on 20/06 as well as results on their website. Nothing too important.
I’m almost tempted to go to the AGM, just a long way to travel.
Hope your well.
Started: legobrickgirl, 28 May 2019 16:17
Last post: nastid, 28 May 2019 17:46
If you strip out the strategic review costs, and the AUS write down, the picture is pretty strong. I'm assuming the partner in Australia became a hostile one. i.e prevented site access, maybe even legal means to slow down the sale etc. Not something you can stop if that is what happened.
I'm not sure I've read it correctly but the tolling agreement must've included a clause that had Hydrodec paying an onerous set amount whether it is in operation, or not. Presumably the eye watering 7.1m, included this, plus legal/termination costs, and business write down valuation... a bitter pill, given it didn't generate very much revenue.
Carbon credits are becoming a useful additional revenue, as well as the unique selling point.
I wonder what the sale price will be for AUS, under $1m, $2m?
Seems the two year plan is on tract. Can they now proceed with year two and boost feedstock and revenues?
Obviously it is negative that the debt has increased but I suppose it was always going to be e pensive getting rid of the plant in Australia. But at least now they have an offer and they are not looking at relocating.
I added £4K this morning. I wish I had hung on with my original buy as the share price has dropped to the support level of 57p where it has bounced. I’m hoping this is the bottom and now provides a 4 bagger to The brokers second target of £2:50.
It does feel like jam tomorrow some times, but it also feels like some progress has been made. Just need confirmation in the coming weeks for the sale of the Australian plant.
Good luck to anyone who’s left here.
Started: legobrickgirl, 28 May 2019 16:41
Last post: legobrickgirl, 28 May 2019 16:41
Started: 42trader, 28 May 2019 13:44
Last post: 42trader, 28 May 2019 13:44
Hydrodec has released full year 2018 results following the pre-close trading update at the end of March. Revenue increased to $14.9m at the Canton facility in the US with an overall Group Adjusted EBITDA loss of $1.2m, driven by costs of business reorganisation. The results commentary reinforces Hydrodec’s key strategic objective to deliver
substantial increases in feedstock levels available to the Canton facility to support the US focused utility strategy. The recent management changes and newly appointed marketing personnel should support this objective to drive increasing utilisation and, in our view, the Group is increasingly well positioned in this market which lends credibility to our buy thesis.
The Group ended 2018 with $2.2m of cash and net debt of $9.3m. The slower than expected disposal process in Australia (expected to complete in June) and related cash burn are impacting cash flow but support from Andrew Black and potential to re-finance the lease arrangements in the US should continue to fund the Group’s strategic
ambitions so we see the Group’s cash position and overall funding as lower risk at this time.
It appears to us that the Group is benefiting from some of the changes already made, including the realigned relationship with G&S, new management and marketing personnel and in their relationships with feedstock suppliers. While it is early days, we see significant positives in how the Group has navigated some challenging issues and are
encouraged by the strategic progress with the Board confident of meeting current market expectations for 2019.
We make no change to 2019 forecasts. Hydrodec trades on 3.7x EV/EBITDA, 8.8x P/E, 6.0% dividend yield and a 14% FCF yield (all 2020E). Although we acknowledge execution is required through 2019, and is being demonstrated in our view, we believe the existing assets and potential for high cash returns are extremely attractive to equity investors and reiterate our buy rating and 100p price target.
Started: 42trader, 28 May 2019 10:26
Last post: 42trader, 28 May 2019 10:26
Just tried again selling and still able to sell full £12k but I am able to buy without going to NT.