Member Info for RichieRichie

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.

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.

I respectfully disagree. The problem is not building capacity to cope with demand; the problem is lack of demand. Hardide is at broadly the same revenue position as it was 4 years ago pre-Covid (£3m revenue for half year) only the balance sheet strength (£4m cash) and market cap (£20m) have evaporated!

My wish list is, new contracts, new contracts, new contracts, guidance for first half year 2024 is £4m, cash on balance sheet is growing and business resilant.

Shareholders could do with some good news. Recent announcements intimated Ansaldo re-ordering plus a new turbine customer. Silence is defenening. Why is customer and revenue growth anaemic? Investment in new turbine capacity made over 4 years ago. Airbus approvals 4 years ago. What is wrong?

Revenue growth is anaemic. Very disappointing given the Hardide board expanded the furnace capacity in 2019 and there has been a significant investment in Business Development resource over recent years. It is incumbent on the Hardide board to start delivering on the strategy. One ray of hope is no equity raise (yet).

A trading update would be welcome as we approach year end. Something along the lines of, "lots of new customer orders, cashflow positive, on strategy to make shareholders lots of money" #fillupthefurnaces

Press release by Chairman looks a bit odd? Normally the CEOs job.

By reference to Schlumberger, Halibuton, Baker Hughes recent results presentations driling service companies are very busy and outlook also positive. This is reaffirmed by various contacts who work at the above companies who also state a lot of drilling activity, especially in Middle East, Brazil, Guyana etc. Hopefully this translates into a healthy orderbook for Hardide. Would be great to hear that first orders are being processed for Gardner Aerospace and an update on the gas turbine blade order with the second largest manufacturer...

Good to hear progress on profit and working capital plan to save £0.5m and achieving EBITDA breakeven. Fingers crossed more new customers, continued revenue growth, cashflow positive and access to finance (other than highly dilutive equity). Fill up the furnaces, bring home the bacon!

Yes great. 10,000 A320s x 20 parts x £200/part is £40million revenue x 75% margin is £30million of profit! The point I was trying to make is it is incumbent on the Directors to update Hardide's guidance rather than us all guessing. Share price reaction reflects the hesitation to believe all the hubris before we see the results.

Assuming 20 parts per A320, 50 new A320's a month equals 1,000 parts per month or 12,000 parts per year. At £100 per part, this equals £1.2million of additional revenue or £2.4million additional revenue at £200 per part. This is all conjecture but possible to see the impact of a major order on the Airbus A320 platform. The Hardide board have a fiduciary duty to act in the best interests of shareholders. I agree it is important for Hardide to update their revenue and profit guidance in line with news so we don't have to guess!

Gardner partnership good news. Confirmation that Hardide better than competing coatings of Hard Chrome and HVOF. Fill up the furnaces, bring home the bacon...

When are we going to see new contract awards?

Encouraging there is a clear strategy in the financial statements focused on sorting out the operational performance of Hardide. Let's hope the new chairman starts delivering on the strategy and the value is delivered to shareholders in the short term. 78% of revenue comes from 5 customers which really hasn't changed much in recent years.

Dear Santa, I have been a really good boy this year, done all my homework and not hit my little brother. For Christmas, I wish the New Chairman of Hardide to sort out the operational performance of Hardide. A great technology with impressive customers and an attractive pipeline of new applications. Thank you Santa.

Interims May 2022, "With the Company now being on a firmer footing and line of sight to profitability and cash generation". Year end trading statement October 2022, "The Company sees clear potential for the current financial year to show considerable improvement on recent years and the Board is optimistic about the future". Given the historic hubris of the previous chairman, the delay in announcing the preliminary results relative to previous years and anaemic share price, I fear the shareholders are set for yet more disappointment. Hopefully I am wrong...

I agree. Lost trust and confidence in what the previous chairman was saying. Fingers crossed the new chairman will bring back the badly needed trust and confidence and move Hardide to a solid footing.

Hallelujah! Onwards and upwards.

Has there been any mention of ore sorting at Coringa? An ore sorter at Coringa, trucking the high grade ore to Palito will be much quicker and save the capex relative to a new concentrator at Coringa. Given the Serabi's modest production and fixed costs, the extra ounces will bring down the AISC quickly. With the more robust cashflow this will allow Serabi to push harder on exploration at which point Serabi becomes very attractive. Just an idea..