Member Info for RichieRichie

Corona situation will get better, I just hope the company delivers on all the promise without diluting shareholders in the process. Only the Directors know how real the Aerospace, new customer and other opportunities are. It would be very timely at this point to see Directors buying shares consistent with all their shareholder communications.

A sign the site relocation is going well!

It has been a long journey investing in Hardide and when my faith has been tested, I take comfort from Hardide's customer list. The interim results presentation references Schlumberger, Halliburton, GE/Baker Hughes, BAE, Airbus, Lockheed Martin with development projects underway at EDF and Leonardo Helicopters. These are all very big, serious companies and not many junior companies can claim such an impressive customer list. I believe that once we get through the current "exceptional circumstances" (No reference to Mr Cummings here) we will get a break. With a strong balance sheet, EBITDA positive, growth capacity funded and ability to raise asset finance the company will go from strength to strength and hopefully no further dilution required. The market cap is approx the value of equity raised by the company. There has been no reward for shareholders for the risk taken to commercialise Hardide thus far. We have been patient investors and can be more patient until we fully understand the value proposition. I believe this should be many multiples of where we are now. Don't sell too cheaply!

Positive results. Production orders for A380, supply agreement with tier 1 Airbus supplier, level 2 testing for A320 parts, strong balance sheet, first asset financing, EBITDA positive, expansion on track and a Queens award!

A positive morale boost

Bargain basement at these prices. Would be good to see some Director share buying...

Cash was £4.8m at year end plus £2.5m from January raise so we enter this turmoil in a strong financial position. Hopefully board takes decisive action, slows capex, reduces costs and continues business development until confidence returns. Clearly oil and gas exploration going to be hit hard but other customers in flow control, oil and gas operations, engineering should continue. We have been here before, just requires clear decisive action from the board.

Website updated to include the latest Growth and Innovation presentation. Very upbeat.

Hardide has now posted the 2019 Financials on the website. Highlight the segmental information shows five customers with revenues >10% (previously 4) and these 5 customers account for £4m (80%) of revenue and the largest customer £1.15m (23%). Diversification is moving in the right direction but very slowly as in 2016 there were 4 customers accounting for 73%. There is no segmental information but assume the majority of the revenue is oil and gas which highlights importance of getting the Airbus revenues. Really important to start delivering on the business promise. On a more positive note the results presentation mentioned the group was EBITDA positive in Q4 2019 and with a strong start to 2020 hopefully 1H 2020 is EBITDA positive.

The website now includes the annual results presentation. Slide 4 references EBITDA positive in Q4. Slide 10 references first standard reactor in UK in March 2020 and larger reactor in May 2020. Slide 10 emphasis on Tier 1 Airbus suppliers ordering in early/mid 2020. Without context difficult to understand these points but sounds positive!

Also RNS for new award of options but no reference to the vesting criteria so no idea whether aligned to shareholder interests. All in favour of management being rewarded but good to ensure this is fully aligned with shareholder interests. Hopefully more clarity with annual statements.

Well done you have made 8 times. Thanks for all the TLAs. Adriatic is not a copper company. Good luck with the construction financing.....

Rick Rule and Sprott are the same entity and invest in equities and debt. I know Sprott lending and they have not provided any debt yet so they are not yet backing a production story. How do you get a debt provider comfortable with offtake, metallurgical and development risk? Answer is a lot of equity from uninformed UK investors which equals massive dilution and disappointment when the project goes badly wrong. The previous CEO was technical and booted off by Cronin who is not a mine builder. Disaster written all over this one. Investors should be seeking exposure to copper but far better and safer ways of doing this.

Sandfire is a copper company, Adriatic is not. How do you exit a polymetallic mine which is mainly Barite? There are no serious investors and they will fail to become a producer because there is no clear exit route. Mining development a very risky business, not least the financing, permitting and metallurgical risks associated with this project. Fed up with these West Perth mining spivs who are struggling to get money in Australia given their reputation. They then come to UK because they have lost credibility in Australia. How many mines has Cronin built? Answer is zero. Berkeley Energia another classic so be aware.

Paul Cronin should be avoided at all costs. A classic West Perth mining promoter. His reputation proceeds him and this stock you should proceed with caution. This is another Berkeley Energia in the making unfortunately and does nothing for private investors confidence in the junior mining sector. Classic pump and dump so don't caught on the wrong side

All heading in the right direction with a strong start to the financial year. Reference to asset finance important as fed up raising capital at a low share price. Lots of inferences to new customer conversions especially aerospace. Really need to see management deliver these customers and double digit revenue growth or they will start to lose all credibility given the superlatives they have been using around growth and reaching an inflection point. With £5m of revenue and parts approved for flying in aerospace surely the pace of customer conversions has to speed up?

Lock them up. Massively overhyped by a CEO who has quit. Companies like this are damaging to the industry

Generally all is positive as evidenced by high profile end users selecting Hardide's technically superior product with diversification across sectors (aerospace, oil & gas, fluid control) and geographic diversification (Uk, N. America & Europe). With a solid balance sheet, expansion from 6 to 9 furnaces funded, the company close to break even and new applications in testing/patent it looks promising.

However the pace of revenue growth, lack of clarity over the size of the prize and sudden customer destocking issues somewhat at odds with the boards optimism/euphoria.

I think we will get there in the end but the journey taking much longer than anyone expected. What would be good to see is more announcements about customer wins and new furnace orders.

Another great endorsement for Hardide and more customer diversification. Technically superior to Hvof and hard chrome and environmentally compliant. Great news and look forward to more.

More good news. Hardide better than the competition Hard Chrome and HVOF. Keep the customer conversions coming, fill the pipeline of reactors and then order some more!

Hardide has appointed Allenby Capital as a joint broker with Finncap. Finncap the largest and Allenby Capital the 4th largest broker servicing the AIM market. Lets hope they can start to attract more institutional money and improve liquidity.