Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Steady progress will do. Critical thing is to reach cash flow positive before money runs out. After that it's all upside.
The unusual thing here is that the investment is done before the contracts are signed and the cash does not follow for a year or two after that. The CFO and CEO have best sight of contracts signed and future cash flow. And both have invested their cash over the last year or two.
At CES 2024 it was stated that Magna are working on Gen2 of the mirror. With Magna’s investment and working relationship with SEE it is highly likely that there will be another exclusive arrangement sign within the next 12-14 months.
Magna & See signed a 3 year contract 2 years ago & with view to yesterdays award & Magna winning VW ( soon to be 7.2m cars pa,once all their production includes DMS via their mirror) surely they will be keen to sign a long term extension to the initial contract ,which presumably gave Magna the opportunity to prove their concept - which has now clearly been achieved.Neither Magna nor See will want this running to the wire so there must be a fair chance that negotiations will be under way to extend our contract substantially- the $64k question being under what terms.
I’m curious to find out what peeps think of this PACE award win by Magna & what it means for the relationship they have with SEE ?
If industry experts are touting this as a major technology breakthrough, will Magna chose to align more closely with SEE ? Could they invest more into SEE & buy more than 10% of the company?
Surely Magna are thinking we need to work more closely than ever with SEE or is that too optimistic?
I would appreciate thoughts / projections on next week’s KPI figures.
Are expectations that they will ‘blow the bloody doors off’ just wishful thinking ?
You need to post paras 3 & 4!
para 3 & 4 says something rather precise about the Hamlet question [to be or not to be] re Fovio. i.e. price competition lo ROCE outcome - or value added [commensurate with the 2% of GDP value of the problem of road accidents]. Magna is clearly value added = explains their deep commitment to SEE.
Brilliant insight to me that no one is that interested to comment on it or tick it up. Could be that many / most are bewitched by the share price action and lost sight of the underlying issue of the market development as we hit 2025.
The latest win = US$56m since December added. Clearly OEMs still prepared to buy into the SEE premium pricing.
How well will the Magna RVM do? VW is a very impressive first customer. Hopefully the NCAP will come through with full score.
The RNS does not say "minimum" unusually.
It says "with an initial estimated incremental lifetime value of US$26m".
An estimate could be high or low.....only time will tell....
Hi Brockwl you said
"Useful contract today adding 3m a year for some time starting eoy."
Did you miss out the word "Min" after 3m?
We caught up with Caroline Chung, Engineering Manager at Magna, to gain insight into the key challenges and considerations associated with driver impairment within the vehicle cabin. Don’t miss Caroline’s presentation at InCabin USA 2024 where she will dive deeper into this topic.
1. What are the key challenges in detecting and mitigating driver impairment within the vehicle cabin, and how are these challenges being addressed through technological advancements?
Detecting and mitigating driver impairment within the vehicle cabin presents several challenges. One challenge is the variability in impairment symptoms, as different individuals may exhibit different signs of impairment such as drowsiness, distraction, or intoxication. Another challenge is the need for real-time monitoring, which requires systems that can accurately and non-intrusively assess the driver’s state continuously. Environmental factors within the vehicle cabin, such as noise, vibrations, or lighting conditions, can also effect the accuracy of impairment detection. Additionally, striking a balance between accurately detecting impairment and avoiding false alarms is crucial, as false positives can lead to unnecessary interventions while false negatives can result in missed opportunities for intervention. Technological advancements are being made to address these challenges, including the integration of advanced sensors, the use of machine learning algorithms for data analysis, multi-sensor approaches that build upon existing camera-based driving monitoring, and the creation of intuitive human-machine interfaces. These advancements aim to improve the accuracy and reliability of impairment detection, ultimately enhancing road safety.
2. What are the ethical and legal considerations surrounding the use of in-cabin monitoring systems for assessing driver impairment, and how are industry stakeholders navigating these challenges?
The use of in-cabin monitoring systems for assessing driver impairment raises important ethical and legal considerations. Industry stakeholders must ensure that drivers’ privacy is respected, and their personal information is handled securely and in compliance with relevant privacy laws. Obtaining informed consent from drivers is crucial, and transparent communication about data collection, storage, and usage practices is necessary to build trust. Additionally, industry stakeholders must implement robust data protection and security measures to safeguard the collected data from unauthorized access or breaches. Compliance with data protection regulations, such as GDPR or CCPA, is essential to protect driver privacy.
https://incabin.com/blog/key-challenges-of-driver-impairment-with-caroline-chung-engineering-manager-at-magna/?utm_campaign=ICUSA24&utm_medium=email&_hsenc=p2ANqtz-8VIQAIg8lhL1C4F0BWIC0Y62Z6XiBCimSoRNN5wCW2l8wpbZuEaQerv170jPqT9xauhpkhBSkCmgqKYewZl2TUaVsppw&_hsmi=305128389&utm_content=305128389&utm_source=hs_email
I’m sure he is following this forum you know!
CB on LinkedIn;
Seeing Machines has today announced an extension of a program win with "an existing North American Tier-1 customer and OEM." Based on existing evidence, this is almost certainly for Ford Motor Company, with Magna International as the tier-1. Shown below is the new Lincoln Motor Company #Aviator, sister of the Ford #Explorer, with DMS on the steering column. Superimposed onto the image is the latest Gen. 2 DMS camera from Magna. It is a perfect match. Both the Aviator and Explorer are due to reach start of production later this month, and we are likely to see models destined for sale in Europe appear on YouTube with this Gen. 2 DMS module sometime later this year, to meet Euro NCAP #OSM testing and #GSR requirements. The announcement likely also confirms that Ford is continuing to source DMS from Magna/Seeing Machines until at least 2032.
https://www.linkedin.com/posts/colin-barnden-1081376_aviator-explorer-osm-activity-7191413983424184320-RkxT?utm_source=share&utm_medium=member_ios
SEE won’t be happy with this good news slipping out..their policy of secret operations at risk with that kind of craic
Be interested to hear what he has to say on both the contract win & Magna winning the PACE award for the DMS intergrated into the mirror with our tech !
Magna making a big deal about this win on social media & also mentioned SEE as partner so very positive for the ongoing relationship we have with them.
The BMW X7 reigns supreme as the brand's largest and most luxurious SUV. It offers a compelling blend of power, comfort, and technology, making it a desirable choice for those seeking a top-tier driving experience. This comprehensive article dives deep into the X7, exploring its features, performance, design, and everyday usability.
Technology at Your Fingertips
The X7 is a technological marvel, brimming with features designed to enhance your driving experience and keep you connected. The large central touchscreen serves as the hub for the infotainment system, offering intuitive control over navigation, audio, and climate settings. The X7 also boasts a comprehensive suite of driver-assistance features, including automatic emergency braking, lane departure warning, and adaptive cruise control. The available Highway Assistant with Active Lane Change allows for brief periods of hands-free driving on designated highways, further reducing driver fatigue on long journeys.
https://www.carsoup.com/blog/2024/04/30/untitled-456/
BMW pours $2.8B into China plant for EV push
BMW announced on Friday it will invest 20 billion RMB ($2.8 billion) to expand a production facility in the northeastern Chinese city of Shenyang, as the German auto major aims to begin assembling its upcoming “Neue Klasse” electric vehicles locally in 2026. The amount, which brings BMW’s total investment in its largest manufacturing hub to 105 billion RMB ($16.154 billion), represents an acceleration of the company’s efforts to prepare for greater EV demand in China, where domestic manufacturers continue to capture market share from their global rivals. Construction of a 10 billion RMB ($1.538 billion) battery plant in Shenyang is also underway, which is set to begin operation with 2,000 new jobs in 2026. BMW reported a 138% YoY surge in sales to nearly 100,000 EVs in China last year, which accounted for nearly a third of its total EV sales worldwide.
Trouble is it's not 70m a year, as there is a lot of ramp up there, so will start low and ramp up.
Hence break-even not guaranteed.
It's becoming clear that see misjudged the market, in thinking that best product would dominate.
As a result probably spent far too much on R and D.
In the short term that hasn't worked well for them, as they are often only used in premium brands, and missing the volume budget market. In addition OEM delays have exacerbated that strategy.
It's not all bad as that strategy has had positives ie magna and big lead in aviation.
If they can make breakeven without another raise, then over time they can move down the chain into the volume budget area and do well. Hopefully before smarteye catch up. But I dont see them out of the woods yet.
Useful contract today adding 3m a year for some time starting eoy.
Noticed Paul scot stockopedia has turned more positive on see recently. He's been pretty critical previously.
It appears he had a call with management which changed his mind somewhat.
However he does caveat that with, only if what management say turns out to come true.
I'm currently just a hold until I see the KPIs improve. Then I might buy more again.
Cheers DR777
Man look, should of gone to specsavers!!
So could start soon. This wasnt in current equation
I have increased my holding following todays announcement and have a personal 6 month price target of 9p.
"Seeing Machines has now been appointed to deliver 18 expanding programs for 11 individual OEM customers, building the cumulative initial lifetime value of all ongoing Automotive programs to US$392m, with most of that revenue expected between now and 2028."
That's circa $70m to $80m revenue annually for the next 5 years based on "initial" values for automotive alone. A three fold increase on the last financial year end results surely ensuring breakeven in 2024/25 and removing the risk of any cash raise.
Top 4 sales in Europe & we got 3 OEMs in top 4
VW
BMW
Mercedes
Volkswagen remained the best-selling car brand in Europe in March 2024 followed by Toyota and BMW. The top-selling car model and battery-electric vehicle in Europe in March 2024 was the Tesla Model Y. The Dacia Sandero, VW Golf, and the Tesla Model Y were the three most popular car models in Europe in the first quarter of 2024.
Despite weaker sales, Volkswagen remained the largest car brand in Europe by far in March 2024. BMW moved into second place with sales up 9%, a similar improvement as second-place Toyota. Mercedes-Benz sales were flat.
https://www.best-selling-cars.com/europe/2024-march-europe-car-sales-and-market-analysis/?utm_content=cmp-true
@Terry: calendar year as per headline:
Automotive program extension to 2032 with existing North American Tier 1 and OEM, start of production this calendar year
Big danger is that when you puff up value you tend to crash on rocks of reality. For all the DMS providers cars in production per quarter and revenue per fitment is king. That will drive share price up or down in some cases. Cumulative business awards mean nothing and Smarteye numbers really suggest that many of the earlier awards never went anywhere and any expansion is fantasy. If they did it would be in the numbers. Nearly all awards before 2021 are likely supported driving only and uptake on that is optional and hence low numbers. The uptake is increasing, more oems offer it and dms via a camera for safety is law for vehicles in eu in 2026. We all want the share price to do well and some just want a false spike to exit - I get that.
If it was SmartEye they would have added a zero at the end of it on further expansion & estimates & the stock would have gone up by 40%
As always we send out a boring RNS that has no sizzle & we get a muted response.
Whoever does there RNS’s needs a lesson in capturing investors excitement as it’s hardly exciting when in theory it actually is positive news.
Modest
requirements and is scheduled to start production before the end of 2024 with an initial estimated incremental lifetime value of US$26m.
Calendar year or FY? Doesn’t say but either way will contribute to break even in FY 25
Might it be we get bluecruise Adas versions and smarteye get budget end of market for compliance?
Bluecruise might migrate down range and become standard building uptake. Just a thought.
Interesting we mention USA Europe and China. Look back at Seye rns from dec 22 they say….
intended for the markets of North America, Europe and China.
https://www.smarteye.se/news/smart-eye-wins-800-msek-dms-deal-with-large-north-american-oem-up-to-53-design-wins/
Have they done another BMW & we have got 1/3rd of contract they won? If so could get the other 2/3rds back?
The plot thickens as always…