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According to those figures April to June production was around 530,000
July to September was 580,000
So there was actually almost 10% growth quarter on quarter. Which makes it even more surprising we only managed 5%.
The issue for me is that they gave forecasts in their recent webinar, which stated quarterly growth would need to be around 23% to achieve these forecasts. Quarterly growth of 5% is way below that. So they need to exceed the 23% in coming quarters to keep on track. Hopefully with new models coming out soon they can achieve this.
I imagine it will be behind Smarteye still. It's 14 months since they announced 1 million cars on the road. If they've only managed 300,000 since then they might as well give up.
I do think we're catching up though and will likely overtake them in the next year or so.
Wrong. They do have shares just not a notifiable amount yet.
"Magna International Inc., (NYSE: MGA) (a large, multi-national Canadian mobility technology company for automakers and an existing customer of Seeing Machines) invested US$10m as part of the Placing at the Issue Price".
I expect royalties.
"A unique collaboration with indie Semiconductor to deliver best-in-class, vision-based sensing solutions in challenging conditions (e.g. low light) also targeting simplified compliance with heightened safety standards. This partnership is based on indie's integration of Seeing Machines' hardware optimised and industry-leading Occula(R) Neural Processing Unit (NPU) technology into their first generation of innovative vision sensing SoCs".
I'd be worried if Smarteye were winning lots of new business. They aren't.
The longer the rfqs take the more likely it is to be in the mirror as that's the quickest implementation imo.
Potentially yes, but any new contracts especially on the oem side aren't going to have an impact for at least a year and potentially a lot later than that.
So gen3 to be announced to the market at CES in January and then be available for fitting in March/April is what I got from the presentation.
On the plus side it sounds like we already have pre-orders for it.
Imo this is SEE DMS in collaboration with Ambarella and Autobrains as per https://seeingmachines.com/seeing-machines-ambarella-and-autobrains-combine-dms-with-adas-on-soc/#:~:text=Seeing%20Machines%20announced%20a%20partnership,(SoC)%20and%20multiple%20cameras.
Not really. There's been a negative working capital inflow which should unwind so cashburn is somewhat higher than normal this half.
"Working capital increased due to the timing of Guardian inventory deliveries, leading to an increased level of inventory and receivables at 30 June 2023. Inventory levels are sufficient to support demand for H1 FY2024 and will unwind along with receivables in the first half of FY24"
That's a 6 month increase not a quarterly one. In the 6 months our sold units went up way more than 30%. In the last year installed units went up 177%.
Costs haven't gone up that much. Yes it looks like they have hired more people. They have also let some people go. Especially in the aviation division.