Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
How about;
What's happened to the 3-4 auto RFQ's that were for the mirror location that PM mentioned in 2022?
What's happened to the six figure volume fleet RFQ's that SEE were the only one on the RFQ's for, which PM mentioned in 2022?
What's happened to the 330 planes + sims aviation RFQ that PM mentioned to Italian investors in 2022?
Can PM clarify whether the 1bn auto RFQ's mentioned in 2021 have all been awarded? and what has happened to the 1bn in 2022 that was also mentioned at the same time, have they been awarded?
Are we still on course for having a zero on the end of our market cap by Dec 2024, which PM stated in early 2022? Can PM also clarify whether he meant the market cap would be ten times bigger in Dec 2024 rather than, lets say, the market cap just moving from 295m to 190m which seems more likely at the moment? (please note my market cap figures are just made up as an example as I can't remember the market cap in Jan 2022 when he made this statement although the SP was 7p ish)
Can PM clarify his share price targets for his bonus. Is it 12p by June 2024?
Can PM give us an update on our collaborations. Obviously Magna has resulted in a contract win, but have we had any benefits from working with Qualcomm, Valeo, Mobileye, Omnivision, Ambarella, Analog Devices, Geotab, Shell (have I missed any?)
Are we losing out to SEYE in contracts as over the last 12-15mths they have announced significantly more than SEE have? or did we not quote for these contracts?
i’ve now got to the point where i am just hoping this sp gets back to my break even point so i can get out without making a loss. i have lost faith in the management after too much bull**** and the wins over the last 15 months mainly going to seye just makes me too nervous about how this is going to pan out.
People on here and telegram keep putting SEYE down yet they keep delivering contracts and extensions - a lot more than SEE have in the last 12-18 months.
When was the last time PM talked about RFQs and estimate market share? He seems to have moved on to profitability- makes me think they are losing the long term battle and therefore trying to get the SP to rise on short term profitability. It will be interesting to see what happens when there is hardly any pipeline after this supposed 350m pipeline has come in, or should I say 120 as in his last interview he talked about only a third of that being guaranteed.
With legislation only 2 years away this should have been a banker, however it doesn’t look like that anymore. 120m over 5 years isn’t going to move this SP
And also on Telegram
“ Think we need to see the position after three more KPIs, and a move into profit. 😊”
When has PM delivered anything on time? There is no way profit will happen when they are predicting!
I also love how it’s now all about the kpi’s
In the past wasn’t it all about the 6 RFQs that we were told would be confirmed by june2018, that date came and went. Then it was all about;
Qualcomm
$1bn in auto RFQs
4-5 mirror location RFQs
333 aircraft rfq
Six figure volume contracts for fleet
Need I go on
What will it be when the kpis don’t deliver? or his share option SP doesn’t happen, or his 70p SP prediction by the end of 2024 doesn’t happen and profitability is delayed.
I assume everyone will then fixate on june2026 and the legislation! And then what…
Well by then it will be too late as SEYE will have cleaned up- I bet they release another 100m auto contract before SEE do at this rate.
Well with the announcement of a recession I imagine the stock market is going down today and SEE will see the 4’s.
What an investment this has been - well done Mcbulls**t for your failure to deliver the expectations you set with your little one liners in interviews such as the six figure volume RFQs in fleet.
Do they really need 10 people in this team at the Geotab event given the level of contract wins over the last 12 months? I imagine some of the sales team haven’t sold anything!
My god you have to worry about some so called investors - this was also posted in the telegram group and I’m sure many think it’s a new win.
It’s two years old and is the VW win. It’s the only win to date for Magna.
Why post it again when everyone knows it’s VW and it’s in production now.
Either people thought it was a new win and therefore really need to do some research or .. well I can’t actually think of another reason to post it again since it’s been talked about to death recently.
So what are the odds for announcing some contract wins whilst at the geotab gig? Perhaps one of these six volume figure contracts will get the go ahead as they have now had 18 months to complete the RFQ and award the contract to the only supplier on it - especially as they have been testing gen3 for at least 3 months of that time? Surely PM hasn’t lied on that one as well?
Well from that interview he has just pushed any significant SP increase further down the road.
Now mentioning that the 300m + RNS figure is only 1/3 guaranteed. Wow, the only reason I can imagine him saying that is because we aren't going to see 300m - i assume this may relate to SEYE winning business with GM and/or Ford.
He talked about increasing in auto revenue over the next 12, but particularly 24 months - so that puts us well into 2026 - so 2024 legislation is meaningless, even though he mentioned it in this interview.
All talk was around current won business no mention at all of the billions of unannounced RFQ's, 3-4 mirror location RFQ's, fleet six figure volume contracts - wtf is going on - did these ever exist?
Double figures SP unlikely before 2026 in my opinion and by then other things will happen to push it further down the road.
Anyone want some jam?
Baxter1 you have missed some biggies;
3-4 Auto RFQ's which are for the mirror location - I still can't believe that statement came over 12 months ago and yet nothing - how many options are there for a credible mirror location supplier? Were they really for the mirror location?
Auto OEM's running out of time to meet the legislation requirements - i think those statements started 2 years ago
And don't forget the ten times increase in market cap by Dec 2024 - although that's more likely to be larger than 10 times now as when he said that (13 months ago) the market cap was higher than it is today.
What I find interesting is that there was no real commentary today around the figures - even McBulls**t has stopped bullsh**ting - perhaps he is leaving it until March when the official results are released - he needs a bit more time to think of another carrot to dangle so that all the sheep on Telegram will lap it up and cling onto.
Already all but 2 or 3 year end SP predictions on Telegram look farcical
It must be hard work defending Paul with all the bull he spouts
It must be like all those Tory MPs who are trotted out every morning to defend idiots like Boris, Truss and Sunak.
It just makes those Tory MPs look like fools.
Baxter1, I'm I wrong? Paul claims we have won 2 awards via a Tier 1 on the QC platform - anyone know who they are?, remember he does say a lot that doesn't appear to be true. Had we already won them and since the win the OEM has moved onto the QC platform so it wasn't really a win more of a retention (although to be fair that would still be a benefit of being part of the QC stack).
More importantly, "noteworthy" is the key word? So far there have only been 3 contract wins over $100m and we have only announced one of them via Magna.
When we win another contract worth over $100m, which looks to be on the QC stack then I would class that as noteworthy.
Remember we are talking about a market supposedly worth billions so even if we have won a $30m contract over 5 years on the QC stack it's hardly anything to write home about - $6m a year - that isn't going to shift the SP to £1 is it or even 20p!
We need at least 2 more contracts worth $100m each before the market starts to take notice.
Big IF - when have SEE delivered on anything they have said?
Still waiting for $1bn auto RFQ
Still waiting for announcements of 3-4 mirror location contracts
Still waiting for 330 planes and 30+ simulators from an aviation contract
Still waiting for six figure (volume) contracts for fleet
Still waiting for Qualcomm to deliver anything noteworthy
Still waiting for something to make the market believe that in 11 months times the mkt cap will be ten times bigger than it was 13 months ago
The chances of returning cash flow positive by their stated date has got to be less than 2% based on their past promises
Those large fleet contracts intrigue me - you would have thought that for the past 18 months (since those comments were made) SEE's salesteam would have been pre-selling Gen3, signing up trials with prototypes, convincing them that it's what they need to meet the new legislation and therefore these large fleet companies would have been primed to go as soon as it was launched and would have signed those contracts to be first to market with such a life saving product (literally) to prove they care about safety, their employees and the incoming legislation.
But here we are 1 month since launch and not a dicky bird!
Looking forward to next week to see what PM has to say - it must be big as he now only has 11 months before the market cap is going to have a 0 on the end of it. He must have something up his sleeve, other than words, to make the market believe.
Ok so;
In Nov2020 we were inundated with RFQs
In Jul2021 we were told of 10RFQs worth $1bn and likely to be a further $1bn in 2022
We have been told there are 4 RFQs for the mirror location over 12 months ago
Legislation kicks in for new models in 5 months time
We have been told OEMs were running out of time multiple times over the last 2 years.
We have been to CES for years showcasing the tech
We have had an office in Japan for over 3 years
We were told over 5 years ago that all Japanese OEMs were testing our tech
What I can’t get my head around is with all of the above why were we still busy at CES and this show in Japan showcasing our tech - surely all OEMs have now finalised their decisions so that they can fall in line with the legislation and failing that surely over the last 4 years with all these trials, RFQs etc everyone in the industry is already aware of the SEE tech?
I assume it’s just showing off new features for future years because surely contracts are already being worked on for implementation within the next 5 months? Otherwise what’s the point of the legislation if it’s not going to be adhered to.
I think Paul has got some serious explaining to do on where things are at in the next update because nothing is making sense given everything that has been said and the looming legislation. He can’t just come out with yet another pie in the sky timeframe.
Legislation was the thing keeping me here, but it doesn’t seem to be having the effect that I thought it would.