Plenty to like about this update and well overdue in my opinion, however Iam glad the company has decided to inform the market / shareholders of the developments and progress that's being made to lay the platform for contract wins none the less.
It's obvious there is much going on behind the scenes here and as pointed out with one contract now formalising off the back of the 6 drones being deployed. Nice to understand that getting the first drone contracted more often leads to multiple drones and services opportunities being built out in the contract as the relationship takes hold.
I remember hearing Chris on a company presentation say something to the effect that "Once we have a drone in the hands of a potential customer, it's yet to come back and we see contracts formalised pretty quickly." Seems to be that the prospective customer very quickly sees the value in the tech and service the group offers and doesn't want to end up at the back of the que when it comes to service delivery and having a drone onsite.
I think the market would certainly value contract wins of substance outside of the mining sector, where the company has traditionally performed well, as this will help bring the other verticals and the TAM potential of these into focus.
Will dial in for the investor call next week and ask a couple of curly questions.
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