Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
SeeThePotential - don't forget last November in an interview PM also stated that we were the only ones in an RFQ for a fleet deal worth 100,000 units. So there are only two outcomes - the company decide not to put DMS into their fleet (not likely due to legislation) or a SEE contract win. That to me is also a promised deal.
I can't wait for a deal for 100,000 vehicles - quite frankly if that doesn't propel us to 15p and beyond I don't know what will. So it's already been 4 months since then - how long does it take for a company to make a decision on an RFQ?
Surely this along with the Aviation promised deal should both be announced within the next 3-6 months, even if auto contracts aren't.
If we get to December without all these things in the bag then there is a problem somewhere.
terrym I was referring more to the OEM's who still haven't decided and keep pushing back the RFQ's, but yes your point is also very frustrating, why don't we update on GM, BMW and Merc given we have announced them. I don't even recall getting an RNS to confirm we are in Ford Blue Cruise.
And sgreen "switch your screens off and come back in a few months time" - I've heard that for the last 10 years from so called experts on this board.
Well said phil01
What worries me is that the OEM's don't seem to care about the 2024 regulations otherwise these RFQs wouldn't have been delayed so much and PM put a huge caveat on his latest 3-6 months prediction so that also tells me they are not in any rush. Quite clearly this is going to get pushed further and further back and therefore so is our breakeven year and any significant rise in SP - II's know that so they aren't in any rush to buy.
I wonder whether his valuation prediction of 10x higher by Dec 2024, if we are still independent by then, will prove just as accurate as his imminent aviation contract.
Oh I don't know, people kept believing everything Boris Johnson said and look where the country has ended up.
Let's hope the SEE SP doesn't go the same way as the country and SEYE don't turn out to be the next non-Tory government
Seeing 2020 - were you one of these people who kept saying, but let's look at what Boris Johnson has delivered;
i) Brexit
ii) The vaccine rollout
iii) Unrivalled support for Ukraine
I like his positivity and optimism for the future.
I'm afraid all we are getting today is more hot air. I would like an update on;
The RFQ's that we were inundated with back in Nov20 - are they still live?, have we won any?, have we lost any?
The 10 RFQ's that were worth £1bn which in Aug21 PM said were likely to be concluded within 2-3 quarters. Same as above how many have been concluded? how many did we win/lose? Were these the same as the Nov20 RFQ's?
What has happened to the £1bn worth of RFQ's that Paul said in the same presentation in Aug21 would be likely in the next calendar year? Do we have RFQ's on the go for this £1bn?
Where is the significant uplift in business from our partnership with Qualcomm that was muted 2-3 years ago? Have we won a contract through Qualcomm?
What is our partnership with Omnivision delivering for us? have we won a contract through Omnivision?
Why have we not released any more car model updates for over 12 months when we were told they would all be announced? Why have we not announced Ford Bluecruise? Unlike SEYE, why have we only announced 1 or 2 contract extensions, is it because they are the only contract extensions we have had?
The imminent significant aviation deals which would remove any new funding requirement that were muted in a presentation in Autumn 2019 - are they now off the table because of the changes with CAE and L3
The Collins license deal that was due to be completed by the end of 2022?
The RQF for 300+ aircraft? Also our partnerships with Boeing, Emirates, Alaska .... what is happening with them, if anything?
The large enterprise fleet customers that have been muted since the Shell deal? What has the Shell deal delivered for us so far?
The large fleet RFQ's for over 100,000 units that we are the only ones in the RFQ for - from Autumn's presentation in 2022 - When are these due, realistically?
Is Gen3 still going to be launched this financial year or has it slipped?
Phil01 - there are a lot of people on this board who seem to forget about all the missed dates and then just grab the latest crap that PM spouts and say how wonderful that is. Think back to 18 months ago when he presented a chart showing 10 RFQ's that were worth 1bn and predicted they would be concluded in 6-9 months (2-3 qtrs) - how much of that has actually been announced by either us or SEYE? and then in the Italian presentation he mentioned 12 RFQ's - where is the update on that chart to explain how many of the 10 are still outstanding and how many have SEE won compared to the competition?
For over a year he has been talking about enterprise customers in fleet, yet they have only announced Shell - in the meantime SEYE have announced a large global fleet customer - he also stated we were the only ones in Fleet RFQ's for 100,000 units - where is the update on this? I think he said similar things about BDMS customers as well.
I won't even bother with aviation as we all know what target dates have come and gone in that area.
However, I am also in the camp of aviation news either tomorrow or Wednesday morning involving Collins - surely that will be announced before Collins spend time presenting with SEE to US investors. Or if not before, then imminently afterwards. That's the dictionary's definition of imminent and not PM's.
Or alternatively releasing news before would allow PM to show that they actually deliver on their words (something that is still lacking) and would allow him to say if you don't act quick then you will miss out on further rises due to everything he (and his friends from Collins and Magna) are about to tell them in their meeting (which hopefully they would believe more if only the week before PM showed some delivery on previous meetings). Otherwise I'm afraid it could just look like more carrot dangling especially if he has told US investors in the past about the imminent deals, inundated with RFQ's, more fleet enterprise customers of which we haven't seen any, including Coca Cola that this board was ramping about 6 months ago due to likes on LinkedIn.
If private investors feel like there has been a lot of carrot dangling and no real delivery god knows what ii's think when they have been told things that private investors haven't i.e, Collins license deal by the end of the year, RFQ for hundreds of planes.
This must be the longest inflection point in history.
I doubt much will change on or after 8th March Maplinman unless the ii's can see some delivery.
I'll change my tune when they start announcing contracts, which they have all but promised, and the share price actually moves past 12p
So what's our fleet business turnover currently, circa £33m?
This win is just over £11m and could be upto £30m
So didn't take long for SEYE to catch us in fleet and potentially the first contract at point of manufacture. Good to see we are using our first mover advantage in these markets.
According to PM in November presentations we were the only one in RFQ's for fleet business worth 100,000 units. About time we announced a contract with one of these, or is that going to be another "imminent", "end of calendar year" moment.
So with 12 RFQs' in auto, fleet RFQ's for 6 six figure volumes, £15m aviation license deal and a RFQ for aviation for hundreds of planes I would have thought we would be getting contract announcements every month a bit like SEYE are doing.
But don't worry everyone, the market doesn't understand us, our wins are coming, I'm sure we will get our fair share, PMG is a god as is Colin and Safestocks ....
It's worse than the imminent moment because he actually gave a specific time period.
You could argue he still hasn't missed his "imminent" forecast but he has certainly missed his end of 2022 forecast.