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I think Swingy is spot on.

Absolutely. Good cash statement plus positive legal statement.

It often comes down to tax. If you are going to be taxed on your dividend income then a buyback may well be more attractive.

In the end, HMI will become an attractive dividend payer - once full production has been achieved and sustained then the dividend should be significant. My own opinion is they should start as they mean to go on and opt for a small dividend. But to be honest - I’ll be happy with either - demonstrating the business/ finances are strong is the key message.

Why do you only post against 2 Brian McMaster companies. No interest in other companies. No positive positions. Several years, multiple posts per day with multiple alias. What is your motivation for this level of negativity?

Smalley

Why are you posting solely against 2 Brian McMaster run companies. Your silence says it all.

I see you still spend your whole day here - without explaining why you have a personal issue with BM. I ask again, were you sacked by him?

He’s been posting for years under different alias. Has some sort of fixation with Brian McMaster hence aggressive posts against HMI and JAG. Who knows, was he sacked?

Very clear. Average sales price in 2022 (261BR). Selling c15% above that (305Br) as of today. Clear cost of production per kt (65 BR I think). Sounds like an announcement of a dividend/buyback coming this quarter along with a working capital RNS. Cash position $2.5m. Debt down from $1.5m to $200k.

Overall - great news.

Confirms revenue is as expected, implying operating profit of c£3m+. Would have been better to have announced this in the RNS!!

Nevertheless- great news.

I’m suspecting we should achieve profits of circa £3m this year - difficult to be precise with the way sales and sale price is presented.

A 0.3p dividend over the year would cos c £600k. Seems very affordable!

The 3 year chart gives a better impression of the scale of the increase. Tripling over an 18-24 month period is not a bad estimate.

I thought the figure was 97% of invoices settled in full effectively on delivery. The ‘seasonal’ bit is old news prior to the banking finance arrangement

John. You have a question on remuneration. Have you emailed the company and asked? I’m sure they’d be willing to answer that. And I suspect it will be in a variety of publications online if you wished to make an effort and look.

Or just sat and whinged on an anonymous bulletin board?

Limestone. Where are we with the project?

Looking forward to the TU. Should show current annual target of 150kt exceeded and give us a better idea of likely annual total.

Weakness of sterling should also be helpful.

Hope we get an update on limestone production plans in the near future.

RNS Quote:

The Board has now declared the payment of a cash dividend for FY2022 of 8p per Ordinary Share, payable on 2 December 2022. Payment of the dividend will be made to shareholders on the register at the close of business on 28 October 2022 and the ex-dividend date is 27 October 2022. The declaration of the dividend was done in accordance with the six metrics of our dividend policy, namely:

Sustaining the dividend is one of their key criteria. 10% yield is pretty attractive.

Is there any detail available on the deferred shares? Any value in them?

https://www.investopedia.com/terms/d/deferredshare.asp

The detail is in the RNS dated 27 Feb 2017. It's pretty clear.

The guidance from the Q1 update is below. I’m expecting higher than 50kt given the seasonality and macro-factors. I suspect their original breakdown to achieve 150kt would aim at at least 50kt this quarter and probably higher. So to reach 200kt, 60kt+ seems reasonable.

From Q1:

In calculating the 2022 target of 150,000 tonnes, Harvest assumed it would sell 8,656 tonnes in the first quarter of the year. The total sales orders of 70,200 tonnes is substantially more than initially forecast (over a 700% increase).



Historically, Harvest has experienced a seasonal sales performance with relatively modest sales during the start of the year ramping up to a buying season around mid-year, tapering off to more modest sales around the wet season at year end. Given the historic expectation that approximately 80% of sales are seasonally placed in the second half of the year, the Company is advancing its plans to meet production of 200,000 tonnes.