Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Personally, I see no reason for a raise. If working capital was such a concern we wouldn’t have won the contract. If there was a concern, the fundraise would have come before the contract win. We also have the debt facility as well. My concern is that the SP is being suppressed in order to accommodate a purchase to take Harl private.
Many thanks for the updates Lottie. I must admit, the more time that passes without any news of substance, the more I’m finding it hard to disagree with BP. We can’t expect to be winning build contracts at this stage, but a defence contract (£30m+) would give me the signal that I may actually break even at some point this decade.
Did Arun give any updates on the accounts and the reason for the delays?
With the audited accounts due anytime, what are peoples expectations for revenue in the forward looking statement? Harl have already confirmed the last financial year is £18-£20m. The business has significantly grown its workforce over the last 12 months, so I would hope to see a significant uplift to around £50-£55m.
It will be interesting to see the details later, but analysis suggests it's not a "major acceleration" of homegrown energy. Two areas interesting to Harl:
50GW offshore wind target by 2030, up on prev 30GW and 10GW today - where can we fabricate all of this!?
10GW hydrogen target by 2030, up on old 5GW target - we probably could do with somewhere to store it.
This is not new information, but it reminded me of the potential back in 2020. It must be far more accreative now.
'Projected IRR of 21.6%, NPV10 £141.6m, NPV8 £222.6m' and 'undiscounted cumulative revenues of £3.67bn and undiscounted cumulative free cashflows of £1.68bn'.
I heard a similar rumour. This guy should be able to help https://twitter.com/GregoryJonesQC/status/1493239204532396038?s=20&t=ARvIvtNaZdImAA2n3JD4Pg