stratty
13 Apr 2016
Re: results....... After the fire and the collapsing oil price things couldn't get any worse. could they?
Callun
13 Apr 2016
Re: results....... Jam in 2016, apparently. "Decisions were made at the end of 2015 to grow our core transformer oil re-refining business in order to drive the Company to profitability in 2016" Holding my breath already, sigh.
Madoff Jnr
10 Apr 2016
results....... Keep my fingers crossed but not expecting any good news.........
Callun
08 Apr 2016
Re: good rise HYR has been a disappointent for years now. Out of interest, I just looked back at 2012 bb comments and found not a lot of difference. I was talking about jam tommorrow then!!Mr Black was at that time in his share acquisition stage. Now he is gradually being gifted ownership. How long, I wonder, before he buys the rest fo the company for a quid?
WOisME
08 Apr 2016
Re: good rise How can the results be anything but bad? They weren't refining for most of the year and have ended up giving half the business and who knows what else to the largest shareholder and director! Stinks.
Callun
07 Apr 2016
Re: good rise Nice to see a good rise in the SP on decent volume, but still only half the price we were at only 3 months ago.If past performance is anything to go by the results will have a fair amount of jam tomorrow in them. Hopefully I will be wrong and management will have earned our respect.
Getifu
07 Apr 2016
Re: good rise Final results due next week on 12th April.
Nige the snake
07 Apr 2016
good rise I wonder if new news is imminent?
WOisME
15 Mar 2016
Re: New structure Read again dot. We will get 10% of any profits in the event that Black disposes of the business.
dilbert on tour
15 Mar 2016
Re: New structure You will see how successful it is as my understanding is that HYR will get 10% of ANY future profits. As Jim Bowen used to say "Look at what you would have won"!
Callun
15 Mar 2016
Re: New structure Last year, Ian Smale told us that the UK is a very attractive option for our growth and development in the used-oil and transformer oil markets - a unique opportunity to create a fully integrated operation from a standing start covering all oil, as well as leapfrogging much of the European competition in efficiency and product quality. In April HYR finalised the purchase of Eco-Oil from Eco-Oil International for £2.39m in cash, cash taken from company reserves.In September we were told:A full restructure of the consolidated UK recycling business is nearing completion. The Company has entered into an agreement for lease with The Manchester Ship Canal Company Limited (a member of the Peel Ports Group) for the proposed long term lease of a nine acre site near Eastham Locks, Port Wirral, Merseyside in North West England, for the first phase development of a used oil re-refinery in the UK.In the UK, lower oil prices have created a significant market dislocation in supply and demand for used oil and used oil products. Hydrodec UK has responded, and continues to react to, and operate in, a tough trading environment, with a second phase of restructuring underway. The security of feedstock supply delivered by the combined business underpins the rationale and longer term strategy for a UK re-refinery where base oil margins are less volatile and continue to trade at a significant premium to fuel oil.3 months later we have: The strategic review was initiated in December 2015 following which a strategic auction of HUK was conducted.This looks a mess to me. Mr Black seems to have deeper pockets than HYR, for why would he take on the UK operations if he couldn’t see a profit in it? And if he can, why can't HYR?Once again, HYR has failed to deliver on grand promises.I remain a disappointed shareholder.Callun
WOisME
14 Mar 2016
Re: New structure I find it incredible that this did not require shareholder approval in general meeting. We are supposed to find great comfort in the fact that Black left the room when the other directors voted to hand it all over for about £1.5m including debt. I guess we will take the hit in H1 this year.
Callun
14 Mar 2016
Re: New structure I am yet to be convinced that this much vaunted management team have achieved anything constructive for the shareholders.In September's half year report we were told:" In 2013, Hydrodec acquired the business and assets of OSS Group, the UK's largest collector, consolidator and processor of used lubricant oil and seller of processed fuel oil, with a national network of oil storage and transfer stations. Used oil is converted into processed fuel oil at OSS's plant at Stourport and principally sold on to the UK quarry and power industry. In April 2015, Hydrodec further acquired the business and assets of Eco Oil, a leading UK waste oil collector and supplier of recycled industrial fuel oil into the power and road stone industries. It is also one of four significant providers of waste management services to the marine industry in the UK, specifically oily-water slops or marine pollutant (MARPOL). In line with our stated intention to develop a base oil re-refinery in the UK, we have an exclusive licence agreement with California-based Chemical Engineering Partners (CEP) to develop the CEP wiped-film evaporation and hydrogenation technology in the UK as well as the basic engineering for a 75 million litre per annum capacity base oil re-refinery."5 months on and all this gone for £1. What management?
thrift07
14 Mar 2016
New structure What is going on here. The much vaunted Uk business sold for £1 plus debt. Black knows what he's doing. Taken an interesting business private. We shall never know if it turns the corner and becomes a going concern worth something more than HYR management were able to achieve. The US business remains. A bit at the mercy of their partners. Maybe this wil also be bought? Nothing here to entice my investment, but I'll keep watching.
Getifu
29 Feb 2016
Results due Results last year were 23rd March so hopefully some pleasent surprises in 3 weeks.
