Member Info for MrBB

G2 stock is now all sold,presumably to distributors, so all future Fleet sales will be from G3 , ie from either retrofit or post production fit & there will continue to be replacement sales, eg an old G2 unit needs replacing by one of our customers & they will be receiving a new G3 unit.Still not clear to me whether we will hold any G3 stock ,eg for replacements or retrofit

Thanks for clarifying the position, Martin,much appreciated.

Difficult to decide whose valued opinion to align with -

a) A highly regarded analyst in our sector together with 2 highly regarded brokers

b)A shareholder in a poorly funded & overvalued company selling a cheap but inferior product .

If I was a SEYE shareholder I would feel fortunate in the recovery of our SP & putting the proceeds into the company who , according to Peel Hunt, could take up to 70% of The Market - apart from an expected substantial increase in G3 contracts & Aviation contracts.

Food for thought !

Paul &,Martin & other PDMRs buying meaningful numbers of shares would certainly help boost confidence that we remain on track,allbeit 3 months later than expected

May be more to Peel Hunt reducing our SP target from 12p to 9p, FY 25 revenues from approx $91million to $77million,& cash balance at 30/6/25 to around $1mill from around $12mill.

I assume the projections are speculative guesses,rather than based on detailed discussions with Paul or Martin.

Director/PDMR buying would be reassuring

Unless you are the Swedish Chef?

Their embarrassement could be reduced by buying decent numbers of shares , again.

In next week or two ?

I have been long for years & never sold but my view is that Phil is right & Caterpillar saved us from a profits warning-unless, in his excitement to put out the RNS, Paul forgot to mention reorganisation costs being the cause of our reduced cash EBITDA.Leaves questions needing to be answered although I am sure we are all delighted with the new cash

I would hope our fleet installations will exceed 65,000 as all 6320 sold @ 31/12/23 should be installed by 30/6,in addition to all additional sales of G2 over the 6 months together with initial sales from the contracts announced @ CES for 3000 G3 units + all additional G3 sales since Jan 24.We were also told earlier this year that our G2 stock position should unwind in H2 FY24 resulting in improved cashflow in the second half,also helped by the substantial reduction signalled in our monthly costs & cash outflow.

A FY24 trading update over the next few days confirming we remain on track to meet ( or even better exceed) FY24 expectations should be well received by The Market.

Sean has recently reiterated that our titanium could extend down to 5km but our resource calculations are based on only 15 metres-which could provide sufficient product for 150 years at current annual consumption of 10 mill tonnes-so our discovery, covering around 18% of Pitfield could contain 35 more titanium than currently detailed-but we have more than enough to be going on with & the next stage is to prove up the science for separating the titanium in a low cost & carbon friendly way,which Sean id very confident will happen over the next 6 months -by which time we will have a value to put to this immense resource.

Sean talks about taking our market disruptive resource to market , but if te perception in the industry is tat we may well have a truly disruptive potential , in a $22bill pa market, why would one , or more , of the majors, especially in Aus, not be tempted to acquire us, obviously at a substantial premium to our current SP?

CFP-sadly missed .

Thanks Ageos for your hugely informative posts.

In your opinion, could the pathway to building a producing mine be speeded up if our ore was transported to a rival & existing mine who had similar minerology & whose spare capacity ( if they have any ) could be used to process our ore & therefore prove the viability of our feedstock without the time & costs needed to build the demo plant-eg TRonox who have a mine around 90 minutes away by road.I appreciate I may be over simplifying the possibility but I am neither a geologist or miner.

Lets hope Ageos feels compelled to return as even the detractors respect his professional perspective .

Barn061 posted earlier this week about the above titanium miner ( quoted in US) with 20 mines worldwide ,revenues exceeding $3bill & market cap of $3bil.They have a mine a 90 minute drive away from Pitfield-so will be very aware of what can & cant be mined in Australia( or anywhere else in The World).Barn sees Tronox as a prospective acquiror,which is a possibility but they could also become a cornerstone investor -should funds be required

Scarlet- I love your optimism & we wont be worrying about the cost of living crisis if you are close to being correct & I will happily buy you a bottle of your favourite tipple at the EEE millionaires party ( as long as not Soya milk) if you are right.

Te majority of the Worlds titanium is produced in Russia & China & the Aussie Govt will be very pleased to help finance a world class resource in their country- & The West generally will be pleased too.

I dont agree that a traditional raise will take place & once the minimum ( it can only then be increased ) JORC is released financing of the demo plant will no doubt be revealed & my guess is that one or two key industry investors will provide any funding required-if not all provided by the Aussie Govt by way of grants & loans.

Should not be too long to find out .

IFOXXX-I agree with your comments although I dont agree that it is a long way to go before we have a demonstration plant.We have been told previously that the plant should be constructed & operative some time next year & I assume that once the first JORC is published,in the next few days,any Aussie Govt Grants/Loans will be disclosed & te demo plant will then be commisioned.There may well be the need for a key investor to provide some funding for EEE.We should aso rember that the demo plant is expected to be producing high quality titanium which will be sold in the market.

June could be pivotal in starting to establish some sort of initial value for Pitfield.

Terrific news ahead of JORC ( which will be a minimum figure based on what is known ) & Seans visit to UK in under 2 weeks.The majors must be paying attention to us now & hopefully buying in market in order to build holdings which may prove influential when te true potential is clearer - & let us not forget that these results cover a relatively small % of our claim

I appreciate your frustration havealot , which I am sure is shared by many here.

Paul has missed targets & has been a bit over optimistic-especially following The Fleet Debacle a few years ago.His current targets are for FY24 revenue of $66m ( which we are hopefully on target for, to reduce overheads to $1m p month (which we are also hopefully on target for ) ,FY25 revenue of $88m (which "could" prove modest IF G3 Fleet deals arrive in larger volumes than indicated,initial Aviation deals are signed over the year,& we win the expected % of Auto RFQs which have been outstanding for some time ) + Paul has advised & reiterated that cash flow breakeven is still expected some time during FY25.

If Pauls current & declared expectations are met our SP will hopefully start to respond accordingly & having been here since before I needed to shave my nostrils, I have no intention of baling now .

SB obviously expecting JORC to be published before he comes- that is the culmination of all his work so far & still covers only a tiny % of Pitfield.