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I'm with flundra I'm afraid, the update doesn't satisfy my concerns. That's not to say pugugly on ADFVN is correct and things are desperate, but whatever the state of the company's financials it doesn't read well when we continue to defer repayment of borrowed facilities. It should not require this much discussion. I have said previously it feels like HAYT are 'buying time' until they raise sufficient funds. The longer this drags out the longer we will remain at depressed prices unfortunately.

gorillacramp - Even with quality on the Board I still think this is a touch and go prospect and will hinge on it's productivity and success in delivering profits. Have you any sources or links to indicate what 24/7 production can yield? I like the fact there is no longer water issues and rain is subsiding and that the share price was much higher last year. That alone may entice speculation here before results are issued.

Watching with interest. Need to see some positive cash-flow and indications it is moving towards that.

To illustrate better the Rand has been 15.88 to the dollar only 10 months ago but just yesterday it touched 12.83 In the same period platinum and gold have fallen around $70/oz and $90/oz respectively. Now this doesn't tell the full picture as other precious metals have risen like Iridium, Rhodium and Palladium but it does help illustrate my point. Precious metals are nicely up today but need to move much higher to keep pace with the ZAR:USD trend. SLP are still the safest precious metal play listed on LSE

GBP is not causing the South African mining sector woes, it is chiefly ZAR:USD which has investors concerned. The issue of a weak pound is an interesting one and I believe will persist for the very reasons you've listed, but it's not what my point was about. The reason why we are approaching bubble territory is not hidden in the ZAR:USD charts. Anybody who says the exchange has been higher is right but ignoring what is really happening. Metal price like we know are generally priced in USD and these are near record lows. The real issue is the reducing margins as a result of a strong Rand and persistently weak metal prices. Even after majors have cut back on high cost production. You can find recent articles quite easily which highlight a number of South African miners (gold and platinum) failing to break even at current levels. Difficult to see how the mining sector can dig it's way out of the current turmoil without further cutbacks and investment. http://www.xe.com/currencycharts/?from=ZAR&to=USD&view=1Y "My main worry is the loony policies of the ANC govt with president Zuma and ultra loony Julius Malema threatening to seize all white owned property without compensation. This will send SA down the Zimbabwe route. However I gather Zuma is not popular and the more moderate Democratic Alliance has won power in Jo'burg, Pretoria and Capetown. The ANC is losing it's grip and people hate the widespread unemployment and corruption that's endemic in the country. It's all a bit sad really but hope is still there that things will improve in time." I agree and yet the Rand is nearing 2 year highs against an already very strong Dollar. I have seen nothing recently to support such Rand strength. The USD is expecting 3 rate rises like you say so one might expect the Rand to be weakening but it has surged.

WeWillWin - I remembered your post from last October after reading about yesterdays news. You mentioned "If you look at the company’s RNS history, prior to mid-2014, we used to get frequent updates when additional funds were raised. Between Jan 2013 and Jun 2014, there were 9 RNS’s talking about increased funding lines. During this time the share price (adjusted for post-consolidation) went from about 18p to 84p. Between July 2014 and now, even though the company has continued to raise significant amount of funding, and at lower interest rates than before; the number of funding related RNS’s has been 0! In that period the share price has stalled. This might simply be a coincidence but I find it quite striking. In the last couple of years, the main communication with the market has been the 6 monthly results updates (and to some extent the Pre-Close trading updates) but not much in the intervening periods. So, the investors have no idea for almost 6 months as to what the company is doing. I am excluding the acquisition related RNS’s as these were one-off events." News that OPM have acquired a profitable company and partly through the issue of newly issued loan notes should be a boon for growth. Ofcourse whether the market sees it that way is another question entirely. Will be interesting to hear what brokers have to say about the news

Treadstone - I agree the rand has been trading higher, my point being it is approaching bubble territory and should about-turn very soon. Very little fundamentally speaking supports the current strength it is experiencing and analysts have commented how baffling it is. The USD is lower now as you say and this has led many S.A miners down in recent weeks and months. We are okay this quarter given the strength of months 1 & 2 but would like to see Pt and Pd move up above $1000 and $760 again

Nice list of reasons to be invested there ResearchAnalyst, appreciate the additional source links. Have been scouring Youtube and found a particular video from 2014 which went into some details about Hayward's presence in China. 500+ units installed up to that point 3years ago, much of which is not documented. Details like this are rarely released by the CEO but when they are it builds an impressive picture. Keep the links coming Graham, reading them when time permits. Would think the tone on ADFVN should change following today's update. Good to see buying interest up today. Back to 50p by April?

James McNamara, nuclear strategy and development director at Hayward Tyler, says he hopes a lot of the processes Hayward Tyler specializes in will be implemented in the Chinese nuclear design for the UK, particularly processes relating to motor and pump applications. Another opportunity he sees is his company's ability to help Chinese firms manufacture some of their technology and components at Hayward Tyler's plant. "We can use our facility and workforce to produce components for Chinese nuclear technology. We can also help with the assembly and testing of their components," he says. Hayward Tyler has worked with Chinese companies for 40 years, mostly in power generation, and McNamara says that would help establish a good relationship with Chinese nuclear firms in the UK. The UK nuclear regulator is one of the strictest in the world, if Chinese firms successfully pass their design through the UK's Generic Design Assessment, they will be in a good position to export to other countries, McNamara says. He says the stringent approval process in the UK also helps to drive technology advancement. "With EDF, Westinghouse, Hitachi, and other nuclear firms, the GDA process can sometimes identify issues that may not have been considered previously, giving an opportunity to improve safety and technology." He says an example is when the UK regulator decided that one reactor design had insufficient diversity between its safety protection systems, meaning that if its control systems fail, its backup safety systems could also fail due to the same fault because they were too similar. So a more diverse backup system was developed that led to an improvement in the reactor's safety technology. http://haywardtyler.com/wp-content/uploads/2015/07/Chinese_nuclear_firms_eye_UK_market.pdf

This was a downloaded article from late 2015 Hayward Tyler Pumps out Chinese Power Station Orders Hayward Tyler Group Ltd – a leading manufacturer, supplier and service repairer of pumps and motors – announces a further order of 8 boiler water recirculation pumps for Shanghai Boiler Works Limited (SBWL) Changsu Power Station. The growth of sales has been fueled by the demand for Hayward Tyler’s Glandless Motor Pump units for boiler re-circulation. These contracts all centre on using the Glandless Motor Pump on Advanced Supercritical Once-Through (“ASOT”) boiler sets. Recent orders include: ·2x 1000mw ASOT boiler sets using two Glandless Motor Pump units (driven by Hayward Tyler 6,000-volt wet stator electric motors) for the Ninghai Phase II power plant – which is owned and operated by Zhejiang Guohua Zheneng Power Generation Co and is one of the most modern power generation plants in China. ·2x 1000mw ASOT boiler sets using two Glandless Motor Pumps (driven by Hayward Tyler 10,000-volt set stator electric motors) for the Beijiang power plant. ·2x 680mw ASOT boiler set for the Rizhao power station. ·2x 660mw ASOT boiler set for the Tu You power stations. Furthermore, Hayward Tyler has secured its first orders from the Sichuan Province-based Dongfang Boiler Works. Three contracts have been placed to design and manufacture recirculation pumps on supercritical boilers for the Beilungang, Haimen and Shanxi Pu Cheng power stations. John Ling, General Manager, Kunshan, China, commented: "China’s continued economic growth has led to an explosion in demand for electric power whereby the ASOT technology is becoming ever more popular for steam power plants due to higher efficiency and reduced CO2 emissions. As the demand grows for cleaner energy, our technology is posed to play an integral part and we look forward to similar success in the second half of the year.”

Nice link graham! I had not seen that and it dates back to November. I believe we have operated in the Suzhou region of China for a while now and in 2015 expanded into Shanghai so there is no doubt in my mind we have a presence there. The company delivered valuable boiler pumps previously to Chinese customers and whether HAYT will generate substantial contracts from the nuclear sector over the next decade remains to be seen. China normally like to do things in-house, especially when it comes to matters of national importance (safety).

The rand had slipped to a 3-week low last week as analysts expect a dollar rebound ahead of the Fed's policy meeting. Mining and manufacturing production figures due this week are expected to show the two major sectors of South Africa's economy remain under pressure following sharp contractions in 2016 that drove the economy to shrink in two out four quarters. Logic would suggest further rand weakness and a boost for miners in the country. [nL5N1GK2DX]

Hard to say for certain where our orders originate, sometimes we are privy to select information and other times we don't hear anything. Confidentiality requirements must be a tricky balance given shareholder interest and customer demands. I would like to second what thorne wrote on the ADVFN chatboard. A number of posters there have yet to discuss the £4 million Loan Notes which could be raised on amended terms similar to how the original £3 million was extended to a possible £10 million. Instead dilution is being discussed, something I very much hope won't be the chosen route. "One of the factors behind the delay in funding negotiations is probably the desire of the Directors to sign up some or all of the £30m of orders which we have been informed could take place in the short term.A favourable outcome in this respect would boost confidence all round.Interestingly the fact that RBS are happy to extend their £2.4m facility to the end of March is a clear indication that they have no intention of taking precipitate action and moreover see no need to do so.All this goes to show what a few jittery shareholders can achieve against a background of a slowing order intake and unsatisfactory funding arrangements.Let us hope that the Board has learnt its lesson and that this otherwise impressive company can power into the sunset once again... (... without too much equity dilution)" The last line few words I've placed in brackets as I don't support the view dilution is going to happen.

A good way to jinx yourself is to speak too soon, but it does look like its bottomed now (assuming we receive positive updates). What kept me here as shares fell and topping up on the way down is like you say flundra "what they’ve done with the PB acquisition, Luton centre of excellence upgrade, strategic partnerships etc has been very astute, and will pay dividends going forward". My average I am quite happy with taking a 12 month outlook. If I can achieve 25% from my average in that time I would be pleased. Of course I expect higher returns once confidence returns here and we see the true potential of the company realised through ever increasing orders. It may take years to full achieve this but I am optimistic. In the short term it would be good to see net debt reduced but cash held in the company so as to ensure this doesn't become a reoccurrence. We do have repayments to make in the coming years and it would be beneficial if we have a safety net of cash built up. Much to be excited about this year and at these prices we might even make a profit lol

flundra, graham_wales - Yes his reputation and that of the company is in question and will suffer from this lack of judgment / foresight. What is surprising is despite the stated narrative "the knock on effect of the delayed orders on receiving cash has been a major cause of the funding issues" we still are expected to see breakeven EBITDA for the full year. That's a decent second half gain and with certain orders expected to complete early in the first half of the next financial year we might hope to see cash-flow problems resolved. Don't get me wrong, business discussions will be sensible and such but there are common tools in such negotiations to extend dates beyond their original DD. Personally I see this as buying more time to shore up cash-flow issues and the collapse in confidence reflects this. There is no evidence except what may be inferred from updates. Securing long term financing is a good smokescreen and necessary following lower than forecast expectations here. The market is reacting like either a placing is coming (unlikely) or the recently raised cash has been directed to facilitate cash-flow. The bank have been good enough to extend twice and my hunch is the repayment of the short term facility will be made by the end of the month. Neither party will be aiming to sour relations but I do suspect there are delay tactics being used. The more orders that come in short term the more liquid our funds are and the greater liklihood we can advance more orders together in tandem without the fear of cash-flow drying up. What would ease fears is if the company secured the remaining £4 million available under the Loan Note programme which HTG currently has earmakred 'the funding of further growth opportunities'. There is nothing more pressing right now than this issue, we need to amend the terms to raise the remaining £4 million and have that cash ready. Perhaps the reason this has not happened yet is because we have enough cover already and are about to secure new long term financing that will ease pressure. Share price needless to say is ridiculous right now

Dallas Federal Reserve Bank President Robert ****** reiterated his view on Wednesday that the Fed should raise rates sooner rather than later to avoid a situation where rapid inflation forces the Fed to raise rates “very dramatically”. "We should begin the process sooner so we can ensure that it is gradual and patient," ****** said at an event at Paul Quinn College in Dallas. "My fear is if you get a situation where inflation starts to heat up and you overshoot employment, we might be in a position at the Fed where we have to raise very dramatically which history has shown tends to create recessions and cause job growth to be weaker." Fed member ******’s comments, added to a raft of recent hawkish comments from a several Fed Presidents, which have reignited hopes of a March interest rate hike. Philadelphia Fed President Patrick Harker said on Tuesday, that he expects the central bank to raise U.S. interest rates three times this year as long as the economy continues to strengthen. New York Fed President William Dudley said he sees a rate hike in the "relatively near future", which echoed comments from San Francisco Federal Reserve Bank President John Williams, who suggested that the central bank has to raise interest rates in order to avoid a 'too hot' economy that in the end isn’t sustainable. According to investing.com’s Fed rate monitor tool, more than 60% of traders expect a rate hike in March.

An update sooner than expected, unfortunately not what I was hoping for and I little confused as to why they have not repaid the £2.4m. I've read a lot elsewhere and here and have some thoughts, there are a couple of possible reasons. 1) Cash-flow is tight given increasing orders in the latter part of this financial year and a lot of working capital may be currently tied up (payments due in the coming months). The company have requested further extensions in order to ensure they can operate properly and the bank are being kept informed of ongoing operations. 2) Management are with-holding the £2.4m repayment as a 'bargaining chip' to quote "ensure a suitable long term financing structure is put in place". I doubt this is the case, at least it is not an open ploy. They may be doing so under false pretenses such as scenario 1. 3) A combination of the above. Working capital is being stretched, evidence of this being the raising of loans and the deferring of repayments (happened twice now). A revised repayment schedule is being worked, management have the cash in hand but will hold onto this now for another month in order to secure the new agreement but more importantly provide a safety net of cash should anything unforeseen occur. Personally I don't think cash-flow is that stretched, it would have been a lot worse in the lead up to H1 results when they were burning cash. We are cash generative this second half. It really depends just how much work is being commissioned right now and how far our cash-flow can go. Do we really have all the cash? We should already have this earmarked so in my view this is an unlikely scenario. 4) Neither of the above. Management repaid the £0.6m in December and have raised the majority of the sum since through the business and loan notes. They have been in lengthy discussions with RBS for a while and it may have been agreed until an agreement is completed to reduce the short term strains, due payments are on hold. The correspondence by the company delaying the repayment of £2.4m is simply the fact that it's taking longer than the company expected (or at least what they imply). It may be management are playing hardball but somehow I see that as unlikely. We want to maintain good relations. Therefore this scenario seems rather unlikely, why withhold the payment if you can make it. Surely we have asked and been granted the extension. There is £2.4m + £0.3m due by 31 March 2017. Talk of a rights issue on ADVFN and the workings behind it don't add up in my view. There is also a potential £4m earmarked for other growth opportunities which could be raised to facilitate short term cash needs if we were desperate. Why conduct a discounted placing at already depressed levels? Hopefully logic, sound minds and good pro-British business sense will prevail and come the end of March we will be able to relax a little and look forward to the future.

Hayward Tyler Group PLC 172.3% Potential Upside Indicated by finnCap Hayward Tyler Group PLC with EPIC/TICKER LON:HAYT has had its stock rating noted as ‘Reiterates’ with the recommendation being set at ‘CORPORATE’ this morning by analysts at finnCap. Hayward Tyler Group PLC are listed in the Industrials sector within AIM. finnCap have set a target price of 113 GBX on its stock. This now indicates the analyst believes there is a possible upside of 172.3% from today’s opening price of 41.5 GBX. Over the last 30 and 90 trading days the company share price has decreased 26.7 points and decreased 37.1 points respectively. https://www.***************************/hayward-tyler-group-plc-172-3-potential-upside-indicated-finncap/412724118 https://www.insidermedia.com/insider/central-and-east/hayward-tyler-set-for-lower-revenue-after-contract-delaysQ http://www.proactiveinvestors.co.uk/companies/stocktube/6942/hayward-tyler-group-highlights-strong-pipeline-of-new-business-opportunities--6942.html

True enough, profits are going to be huge :) This article is a rather entertaining read, released yesterday with some information that you guys may believe or question. I haven't made up my mind yet but there's no denying Platinum is hot right now https://moneymorning.com/2017/02/23/platinum-prices-in-2017-could-climb-thanks-to-one-booming-industry/

All awaiting the revisions of our house broker finnCapp now who will be privy to information before anyone else, then they will revisit their ratings. Hopefully we won't need to wait until the end of April when they are due to provide 'notice' and a trading update on the Full Year Results (FY Results in July). Financing updates before then. Despite expected breakeven EBITDA we are still expected to book higher revenue (2016: £61.4 million) than the previous year and a record order book (2016: £36.1 million) heading into the next financial year This should lead us nicely into 2018 and a return to a profitable first half. So much could happen to boost sentiment in the next 2-3 months