Special cryptocurrency webinar for Frontier Tech Investor readers
11th October 2017 |
Last week, Nick O’Connor, Sam Volkering and I sat down to talk cryptocurrencies.
It was a cracking chat. It may help answer some of your questions about crypto. And it’ll show you how I see the market developing in the very near future.
It’s for paying subscribers only, and it’s on the website now. You can view it now by clicking here.
Haydale announces capital raise
Haydale Graphene Industries doubled its revenue this year and has a solid order book, which suggests it could do the same next year. However, the company needs more money to fund R&D so it can continue to grow at that pace. It has gone to the market asking for more capital, about £10 million, because it is time pressured. It could wait a year for the money it needs to be generated by sales but that would cede the initiative to its competitors.
As I explained when I originally recommended Haydale as a way of benefiting from the evolution of this wonder material, graphene is a rapidly evolving sector. Haydale is in a great position but it needs to continue to innovate to sustain its momentum.
Here’s what CEO Ray Gibbs had to say yesterday:
“This has been a year of considerable developments at Haydale as the Group has moved from being R&D focused to a commercial entity with focus on repeatable revenues of our advanced materials in both Graphenes and our specialist Silicon Carbide micro fibre product. We are at the inflexion point in our evolution having built a global presence serving locally the key markets of the Far East and USA. We have grown total income by 100% and with the recent overseas investments and emphasis on increasing sales, we look at the current financial year with much optimism having built the foundations for the Group to achieve its long term strategic objectives.”
I believe management understands it is in a race for market share and so has opted for a capital raise. I am writing to you because I believe the decline in prices seen today is temporary and I want to reiterate my optimistic view on the company and its prospects over the medium term.
Here is a link to the company’s press release relating to both the full-year results and the capital raise.
An update on our positions
I’ve recorded a wider roundup of the portfolio for you. It’s also on the website now. You can view it here.
Best,
Eoin Treacy
Investment Director, Frontier Tech Investor