Harvest Minerals Share Discussion Threads

[costax1654x] 02/4/2019 10:27

Is looking weak

[kreature] 02/4/2019 08:34

Hopefully the MAPA cert will show up by then

[whl2] 02/4/2019 07:25

Back to hibernation mode - see you all in September

[kreature] 01/4/2019 20:22

Surely few AIM entities would bother with continual ruses via an affable figurehead were if not for the world class credulous UK 'investor'? Perhaps HMI are the exception though?

[whl2] 01/4/2019 20:04

yup - doesn't reply to emails either

[scrutable] 01/4/2019 18:50

The company has assets worth far more than the current cap. It has to be established whether McMaster is fundamentally untrustworthy, or is simply inadequate for the job.
Does he respond openly to shareholder correspondence? Or with evasions?

The answer will influence the type of letter I will soon send and hope he will see it as constructive feedback. I fear that he will not. He has already prepared ground in the last T/S for shareholders to expect a period without news of progress.

"........there are many moving parts to achieving this (ie profitable, sustainable, business) and the timing and scheduling of our objectives will not always fit the schedule of our shareholders, or the timing of 6-monthly reporting........
and.....
" periods where the communication with the market may be thin".

The Chairman is trying to prepare shareholfers against future dissatisfaction, and should not be allowed to assume he can get away with this.

[costax1654x] 01/4/2019 13:11

Right again...I will buy at 6.5!

[costax1654x] 01/4/2019 12:40

Below 7 p by the look!I will buy some!

[zala1] 01/4/2019 10:14

From me. The company tells us that they expect full year break even at pretax level, which implies a profit in H2 equal to the loss reported in H1. Then I add the recurring opex run rate in H1 to reach an estimated Gross profit for H2

[andy] 01/4/2019 09:15

Zala1,


Maybe I'm a bit dense this morning, but can you explain this please? By that I mean where these numbers originate from?



" A pre tax profit of A$1.8m in H2 would therefore imply a gross profit of A$3.2m in H2."

[costax1654x] 01/4/2019 09:09

Is going below 7

[roguetreader] 01/4/2019 08:02

Cheers Zala1
It would be good to see some of those numbers stated in a formal company release
RT

[whl2] 01/4/2019 07:34

Another "new" corporate presentation rehashed and containing nothing new. When will this company learn ?

[zala1] 31/3/2019 19:14

Notes from the U.K. Investor Show1. Per Fridays's RNS, HMI expect to be pretax break even for the year to June 2019. I confirmed that this must imply a pretax profit of at least A$1.8m for H2 FY19.2. Direct costs are currently running at US$15 per tonne but will fall to $10 and then $7.50 at volumes of 100,000 tonnes per annum.3. Selling prices are $55 per tonne.4. Receivables of A$1.3m relate to product delivered in December and are subject to a typical payment cycle of 60-90 days. This is standard in the industry.5. The sales of 86k tonnes announced last year to two distributors are being supplemented with HMI's own direct sales force of 6 ppl plus one sales manager. Two more are soon to be hired.6. The KP Fertil product is both a fertiles (for the plant) and a remineraliser (for the soil). KPFÉRTIL has already been certified as a remineraliser and has applied for a similar certification as a fertiler, but this takes more time.7. The fact that capes is done and profits are expected in H2 means that the current cash level of A$12m should not fall further as the sales cycle is now self financing. On the contrary, cash should build at H2 sales levels.8. Coffee season is in H1 and soybean season in H2 so KPFÉRTIL sales cycle need not be seasonal over the year.9. There is absolutely no need to raise money. Even if HMI did not have any revenue at all for three years, the current cash on balance sheet would be sufficient for three years of operating expenses.10. Operating expenses were A$2.4m in H1, but this included a write-off of money relating to Geoclico and share based payment expense, totalling $1m, which are non recurrent in nature. Excluding these, normalised operating expenses would be A$1.4m per six months or $2.8m per year.11. A pre tax profit of A$1.8m in H2 would therefore imply a gross profit of A$3.2m in H2. My estimate. At a 60% Gross Profit Margin (same as H1), that would imply revenues of A$5.3m in H2, versus just A$1.0m in H1. My estimate again.

[kreature] 30/3/2019 17:31

When it comes to 'Consulting expenses' on AIM, who better to consult than one of your other companies, or just consult with yourself for a bit, then it's a win win surely? Just plonk it in the accounts as 'related parties transactions'

[jailbird] 30/3/2019 16:27

RTMany thought 10p,11p,12p etc was a buying opportunity after the fall from 20p... and we all wondering why these has fallen ... oh yes a seller .. once gone we will move back upSeller know of the not so good new coming So this news is now out of the bag ... this further drop is now another great opportunity... maybe it is ... been here before The Co has lost trust , and their communication is not even trying to make amends or create confidence

[roguetreader] 30/3/2019 16:15

Scrutable

Agree with the tenor of your post.

IMO the biggest problem has been the BOD over promising on early delivery, where early delivery is often if not always problematic for small start-ups. Clarity around orders and financials would be welcome (including the un-budgeted one-offs referred to), so hopefully these will follow.

The question is whether or not people believe there is anything fundamental from this release that negatively impacts the long-term story here. If they do then they should / will get out and move on, if not then it has to be seen as a buying opportunity.

RT

[jailbird] 30/3/2019 16:08

Focused on generating value for shareholders through realising several key milestones and establishing a firm platform for future growth.Really but the Co dues not want to provide periodic progress updatesThese unexpected costs have really annoyed me.. co just does not smell right and I am saying that as a holder . This is a straight forward business not rocket science . What are directors being paid to do to justify large salaries . These lot need to be ripped up at an AGM meeting by place shareholders at 18p

[ypymytyc] 30/3/2019 15:44

'Consulting expenses', IMO Geociclo!
YP

[cl0ckw0rk0range] 30/3/2019 15:39

Going to get some pumping this off the back of the drop - usual suspects

[kreature] 30/3/2019 14:32

I make the profit margin negative 1800% , but my maths has always been rubbish so I might be slightly out (cost of sales 418k divided by actual revenue 23k?)

[john henry] 30/3/2019 13:44

Scrubable, investors have been pushing the company for more visibility for 12 months.

They arrogantly think twice a year is ample.

McMaster is Arrogant, at least this market is calling this arrogance into question.

He has caused Placee institutions much to think about 60% down in 12 months.