Ann: Aura Ai-X Detection Contract, page-12

If I remembered correctly, we first read about Aura Ai-X from that investor presentation in Feb 1st. The management didn't say anything regarding to addressable market, just simply explained how good the technology was.

Two months later, the management team landed the first contract with the size of USD$1.5M.

I think it is a huge success in launching a new product comparing to Aura IQ, which was announced back in 2019. The management said the market size was $50M+ and numerous parties were interested in the technology.

However, we didn't see any progress until 2022 and the size of the first contract was A$300k.

I know mining sector was a whole new world for AVA, which was used as the excuse for the disappointing Aura IQ. But still, I think we can all agree that the new management team handled Aura Ai-X in a much more delicate way. They didn't overpromise, and delivered results.

I would say this is a major improvement that we should all be happy with.