Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
But wasn't it only about a year ago that SEE announced a cheap/cost effective solution themselves that according to posters on here meant we were going to clean up from low end models all the way to premium models. Someone kept banging on about when we are in cars like the Ford Fiesta - well it looks like SEYE will be in those large volume sellers
"Personally I will be expecting SEE announcement of wins within the next 2 weeks." -
are you not setting yourself for disappointment?
I'd be surprised if there was one tomorrow on a Friday and there certainly won't be one during w/c 26th Dec so it really is only next week, again excluding the Friday just before xmas you are down to 4 days rather than 2 weeks.
Given the way our SP has reacted to our competitor winning this contract I think we need it next week, but I'm not holding my breath.
Spot on terrym, but I would just like to point out that the $1bn in RFQ's was first announced in Aug 21 so 16 months ago rather than 12 - I think at the same time PM also suggested there would be another $1bn in the year after ie late 2022 ie now!
I appreciate that timescales are out of SEE's control, but surely they could have just updated us with that bar chart which showed the 10 RFQ's broken down year by year (plus add in the new RFQs they have). By doing that it would confirm that the RFQ's are still to be confirmed and also it would show the monetary value moved back into later years. Why produce something like that if they are not going to update shareholders on it on a regular basis.
And to think when I put my prediction in I got criticised by some on this board who were predicting over 50p by the end of the year. Well clearly I was too optimistic again, like the previous year where I went for 18p. Might go for 5p this year on the basis that there is going to be a global recession, the war will continue, energy bills will continue to go up and best of all PM will keep spouting s**t about RFQ's, but only deliver 1 or 2 small contract wins and there will be another issue with fleet somewhere. Who knows we may even get something out of the blue like the legislation is being delayed another 2 years to give OEM's time to adhere to it.
We will all still be sitting here this time next year arguing and waiting for RFQ's to turn into contracts, our first aviation deal and some kind of growth in fleet numbers - oh and of course an SP still below 10p and more carrot dangling from PM
As far as I am concerned he has already had another "imminent" incidence by stating 2 to 3 qtrs some 14 months ago on the 1bn RFQ's and by stating we were inundated with RFQ's in Nov20, which is now two years ago, and by stating that every win will be announced. As I said earlier it's time to deliver on these things, ie are we in Ford or not? I see he didn't use their logo on the last presentation - wtf is going on with that - Ford cars with our tech have been on the road for over 9 months - how are investors supposed to invest in the company if he doesn't tell them who is using our tech i.e. evidence rather than just stating potential.
I see he has now started talking up the potential of BDMS again and Guardian at point of manufacture - more carrot dangling - I doubt we will get any clear evidence of that for another 2 years if not longer based on how other things have gone.
10 years in this company and still only just above breakeven and yes I only have myself to blame as I have not sold out twice when it hit double figures, but why was that ... because I used to believe the BS spouted by CEO's rather than take the profit. My fault entirely, just frustrated beyond belief.
Why should anyone believe what he is saying? He said an aviation contract was imminent; he said, 14 months ago, there was 1bn in auto RFQ's that are likely in 2-3 qtrs.
He needs to stop talking and deliver results, contracts and profitability
How about when are we going to see the significant Aviation deals that Paul said were imminent back in 2019, lets be honest this company is still far from being a 3 legged stool! We announced a collaboration with L3 to deliver eye tracking back in Dec2018!
Excellent questions by the way terrym
As for 1A didn't Paul state it was another $1bn for this year? something tells me that was a bit like any forecast i.e. pie in the sky.
I think answers to 1, 1A, 2 are particularly important as they relate to things Paul has talked about in interviews and given specifics i.e. timelines, market estimates etc.. He should give an update on these. By the way the first RNS confirming our collaboration with Qualcomm was in Jan 2020, so make that 3 years in January
Question 6 is beyond me why they haven't and surely you can add BMW to that now i-drive is supposedly rolling out across all BMW's. Let's not forget the increasing roll out in GM that we don't seem to get updates on.
Question 3 also needs an answer - we are just under 2 years away from legislation, surely they should be regularly announcing new customer contracts within fleet by now, we are the only option, there is no competition!
I complete get the SP tanking due to macro economic issues, what I am getting really frustrated with is the talk from Paul that never seems to materialize! "Inundated with RFQ's in November 2020 apparently" that was another one!
Probably because people are getting fed up of waiting for significant imminent Aviation deals and 1bn auto RFQ's which 13 months ago were apparently only 6-9 months away (2-3 qrts) - and on top of that fleet installations are growing at a snails pace when you consider the amount of commercial vehicles that are on the road and in the last several years we have only really signed up one significant customer in Shell, which seems to be doing very little to the overall numbers considering the size of their fleet and their suppliers.
That doesn't make sense with Qualcomm though because they are quite happy to publish the fact that they are getting the DMS from SEE in every presentation etc.. I have seen - if they had that kind of agreement then surely Qualcomm wouldn't highlight SEE in anything they do?
Whatever it is that is stopping SEE announcing customer names, unless it changes, this SP isn't going anywhere until SEE are achieving significant revenue or profitability i.e. 2024/2025 - what's a couple more years of frustration when you have already had 10!
Shame we haven't officially announced Ford and BMW because then that write up on Seeing Machines would have included them as well. Anyone reading that list would then see all the large companies SEE have as customers - I still can't understand why they can't officially announce both now that cars have been on the road for months with the tech active.
I don't understand the silence - 18 months ago when PM talked about 30 models in 2 years, a flurry of RFQ requests in Nov20 and then 6 mths later talked about 1bn RFQ's across 9/10 OEM's (probably over the next 3 qtrs) and suggested in an interview all would be announced even if they were won through partners such as Qualcomm, I would have thought we would be getting RNS's regularly by now.
We have only had a handful of GM models announced (at the same time as announcing Merc), 3 RFQ wins (2 for a pitiful amount when considering the 1bn), no wins announced through Qualcomm, nothing about Ford even though it's been talked about in so many areas.
As for fleet wtf is happening - legislation comes in for vans, trucks and lorries within 2 years like auto. Why aren't we hearing about fleet contracts for fit at manufacture? Is anyone bothered about this legislation or are they just going to plead they didn't have enough time and push for an extension to it.
The longer the silence goes on I just fear private shareholders are going to get shafted somehow - whether it's a cheap sale, more fundraising or a move to another exchange whereby we lose out somehow. If it was such a sure bet surely these American II's would be piling in by now.
Why buy now when it is clearly going to go lower when global recessions kick in?
I wouldn't be surprised to see 4p before things start to improve, unless of course they do start announcing more of this 1bn RFQ's - and not just 25m wins, but large 200m wins.
Nothing else is going to move the SP north in this economic climate as the order book isn't kicking in until 2024 - even if they announce another Shell like deal in fleet it won't have an impact because less face it the Shell one didn't and we haven't heard anything more on this since - no one even knows the value of it so why would the market think it's a big thing. And Aviation is clearly still years away.
I'm sure Cenkos have us down as making a profit in the fiscal year July23 to Jun24 - therefore, that would be announced in Aug/Sep 2024
Although perhaps in Aug23 SEE will forecast a profit for the following year (based on reducing the loss significantly during the fiscal year that has just started) so then II's will start piling in and the SP may start to get to the levels we all want it to.
I wouldn't bet on it terrym, plenty of boring months ahead whilst the world falls apart, economically and literally in the case of Putin's "special military operation".
Somehow they need to stop this war.