Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Perhaps some of the things PM has eluded to, you know;
50% of $2bn OEM contracts inc 4 via the Magna mirror (stated over 2 years ago)
An aviation contract which consists of 330 planes and some simulators (stated over 15 months ago)
Fleet contracts worth more than 100,000 units (stated over 15 months ago)
Profitability by the end of this calender year
Waiting for this to happen is as painful as listening to Tory gas lighting and waiting for a general election.
If he delivers all those this year we might get to the 70p SP he was eluding to just over 12 months ago.
Terrym - contracts have also been eluded to for the past 10 years;
Remember rail, do we have any major contracts?
Fleet projections about 6-7 years ago were 80,000 vehicles (why will gen3 be different? - at least they have only projected only 50,000 this time, but then retracted it)
Inundated with auto RFQ's in Nov 2020
2bn auto contracts during 2021 and 2022 - how much has materialised! Not 50% in value that's for sure
BDMS enterprise customers - came, went, came back again 18 months ago and seem to have gone again
Six figure fleet RFQ's with only us on the RFQ so basically a done deal (where are they 18mths on - you would have thought they would have been announced with the launch of gen3 given that everyone is running out of time)
Imminent aviation license deals, which would mean no further funding (how many fund raises did we have after that)
Any business won with Qualcomm would be additional and significant (have we seen anything?)
2 years into a Magna contract with no further wins, even though 4-5 RFQ's are for the mirror location apparently
330 plane and 30 simulator RFQ mentioned over 18 months ago
Have I missed anything? - looking at this how anyone can say they are not over promising and under delivering is beyond me.
Can't wait to see what bullsh*t comes out on 8th Feb, no doubt we won't have any further contracts between now and then.
When did PM say we would have a flurry of contract wins before half year trading?
He said a run of awards before the end of the year, which we had. Unfortunately SEYE announced more than we did, but combined together it was about 5 so I would imagine that’s what he meant.
I wouldn’t expect anything between now and half year trading as it’s only a few weeks away.
I don’t expect any fleet contracts for the next few months until it’s finally available to install
Glandore, how dare you question the oracle that is Colin!
He is a god in the telegram group.
Don’t you realise that because he is not convinced on the gentex offer meeting all regulations that 70-80% is going to be mostly SEE!
We won’t even be talking about SEYE soon either as they don’t have a mirror offer.
There is going to be a bidding war soon with the worlds biggest companies trying to buy SEE for well over £1 per share.
Oh come on terrym you don't need to worry about minor details such as big contracts with Magna - those 4 RFQ's for the mirror location is old news, we now have two new verbal bits of news from our esteemed leaders to keep us going until the end of the year.
All we need to believe now is 50,000 new connections for fleet, just ignore SEE's denial, Nick said it so it must be true and Paul's wonderful interview the other day which he virtually guaranteed profitability by the end of 2024. In fact he was so great in that interview I'm amazed the share price hasn't just doubled because of his performance.
So profitable and 70p by Dec 2024 - Paul said so!
Where are you going Lewbo? Surely as a resident ramper you would come back with relevant arguments against the points I am making - have you filtered me because you can't bear the truth and actually haven't got any response to the actual facts I have stated?
McDelivery my ar*e!
Auto
Over 2 years ago he talked about $1bn auto RFQ's with another $1bn the year after - how much have we announced since then - less than $75m?
Over 12 months ago he claimed 4 RFQ's were for the mirror location - as none have materialised through Magna (who won't be bothered as they have probably covered their payments to SEE through the VW contract) I can only assume OEM's like Toyota have chosen the Gentex option.
He has also talked a lot about contracts being sticky - not that sticky it seems as SEYE have recently announced contracts which are believed to be Ford and GM.
Fleet
Gen3 apparently launched, if you can call it that as orders won't be fulfilled until April. In my book that means the launch is in April. People argue that SEYE don't get to launch until it's in the car and use Jaguar as the example, well likewise until gen3 is in a vehicle it isn't launched. Also let's not forget I think this was the 3rd launch date for gen3 as there were 2 previous ones during 2023 so whether it's launched or will be in April it's late and only a few months before the legislation kicks in.
18 months ago he announced we were the only one on RFQ's for 100,000+ volume - today they announce contracts for roughly 1,000 per annum for each manufacturer. When is he planning on hitting his new 150,000 fleet target? In less than 10 years time?
What happened to all those BDMS customers that were interested again?
Aviation
The license deal as we know was over 2 years after his imminent comment. It's now 18 months since he blurted out a supposed RFQ for 330 planes and a number of flight sims. I'm guessing looking at their forecast for aviation revenue in 2026 that isn't materialising any time soon.
So far from being McDelivery I see this as a classic example of over promise and under deliver in every market we are in, big time! and the SP/market clearly agrees.
And as for his market cap with a zero on it by the end of 2024, I can only assume he means it will be something like 280m as opposed to 279m. He clearly couldn't have meant the market cap would be 10 times what it was when he came out with that bulls**t over 12 months ago because they have announced virtually nothing for the market to believe that will happen. Another classic case over over promise and under deliver.
Wish I had listened to the Naked Trader who nearly 10 years ago bailed out of this share calling it Jam tomorrow - he would have been better calling it "Not even Jam tomorrow"
And before anyone harps on about the legislation well clearly that is not forcing fleet or auto OEM's to be compliant by June 24 given the lack of speed in both markets, so much for that driving things forward. Another classic from Paul "OEM's are running out of time" - didn't he say that 12 months ago as well!?
According to the Martin video on LinkedIn this OEM is moving away from the tier 2 set up from 2026 and going with SEYE as a tier 1 from then on.
Does this mean we have lost Bluecruise or Supercruise?
He also said it’s not the last tier 1 relationship they will get.
Anyone feel like SEE are Betamax and SEYE are VHS
Dear god, the amount of times you have criticised Redeye and called him out for being inaccurate (in your opinion) but now he doesn’t upgrade you think he is accurate in what he is saying.
You just twist everything to suit your narrative of SEE reaching multiples of its current share price and SEYE being crap. So far your predictions have been as useless as PMs timescales.
Likewise you just pick a point in time to make your point about shareholder return - well we can all do that - how do you think the SEE shareholders who bought in after McBulls**t first mentioned the 10 RFQs worth 1bn two years ago feel now that the share price has more than halved since then?
Seeing 2020 you talk more s**t than McBulls**t.
Didn’t move the dial - last time I looked it moved the SP by an amount we could only ever dream off!
I knew you would be the one to say we didn’t quote on that one!
And as for shaking hands I don’t need to worry about that as I’ve got more chance of winning the lottery than Lewbo’s boat party actually happening.
As well as buying opportunity I bet someone has also stated this will be one of those cheap contracts that SEE didn’t even bother going for!
It’s clear to me that Paul thought he was winning this one which is why he talked about a run of awards before Xmas- so much for GM being sticky if that’s who the contract is with.
This should be a huge concern because if we are losing out to the competition how can you believe his 50% market share predictions.
He has been wrong 4 times now on his timeline predictions so how can you believe his market share predictions.
His SP targets by June24 are a joke - we will be lucky if the SP even gets to 6p by June.
3 contracts announced by SEYE in the last couple of months to SEEs pathetic 1.
SP not had a positive day in December where as SEYE’s has continued to rise.
SEYE clearly the market leader now with two wins over 100m to our 1.
McBulls**t only has 3 days left to pull a rabbit out of the hat or he fails for the 4th time.
Clearly we aren’t the only ones to fall for his BS as it looks like Ive has as well - guess he will leave next year when it all becomes clear and he realises Mcbullsh*t has cost him in the region of half a million.
As PM was so confident about a run of awards before Xmas I can only imagine he thought they were going to win some of these. Perhaps his arrogance put the OEMs off
Time for cost cutting next year then if they employed all these new staff thinking they were going to win that award announced today by SEYE
Doesn’t look like PM knows what he is doing to me.
Good news, but at least 3 years away.
I’m more bothered about the 1bn auto contracts that two years ago were apparently only 2 to 3 quarters away.
The six figure volume fleet contracts that over a year ago we were the only ones on the RFQ’s
The aviation deal for 330 planes plus simulators that was mentioned over a year ago.
The BDMS market which they thought was dead but over a year ago stated that they have had many enquiries in that area again.
It’s like waiting for 40 new hospitals.
Still waiting …
Only 5 days to go
Out of their control?
Can Paul not control what words come out of his mouth then?
Clearly not, and not just once, but four times!
You would have thought he would have learnt from his ‘imminent’ comment, but no he makes the same mistake 4 more times.
Oh and guardian is in his control and that’s still late.