RE: Yesterday's Investor Event17 Feb 2022 12:31
Hello fellow HARL investors, will try to keep the 4 hour meet/tour brief. Met with TTNY very nice/wise guy sort of person you would invite for a pint to chew the fat with. There were 5 investors there, a few no shows down to poor weather, which was great as we had a good question time with Arun. For myself part of the reason for being there was the yard/dock tour, it is only when you see it in person can you get the sheer size of everything, we were down in the smaller dock with the Stena superfast but the wind down there was blowing about 60 KN, you had to lean into it and hang onto your hard hat, pointless talking, the tour was hosted by the Belfast general manager Steven and one thing I took from that was the passion and proudness he displayed during the tour about the facilities and work done so far, that alone would almost make you invest. Q & A was held in the board room, no displays , no power point , brochures or reams of paper, just a good old fashioned investors meeting without the guff. I.M. ttny posed the question although I think he read my notes as it was word for word !!! so I think it only fair that he share his findings here if he wishes, for myself I have no concerns about the future of the project. Credit facility negotiations nearing the end and the market will be notified of the terms, I take this to mean Q2 RNS. A undisclosed contract due to be announced shortly, I also take this as Q2. The big point...Fundraise Not in the near future, but not ruled out at a later date, there was a good conversation about this point and the rationale was explained, but I do not have time now to go into this. Contracts, there is a large pipeline of contracts awaiting decision £30M - £200M. Scotwind, HARL are in negotiation with 11 of the 15 companies involved, lead time is 2 years however due to the nature of new design being the floating turbines there are opportunities for HARL to build the prototypes @ £5M a pop. My investor mentor advised me to always pose this question at similar meetings, I explained my holding and timing to Arun including that I had advised family/few friends to invest which they had done..........would he do same, without hesitation his reply was absolutely yes, that to me is telling. I know my update is brief but IMHO Harl is a speculative buy and the reward outweighs the risk but this is AIM, but I will continue to hold. Roly