I attended the AGM and here are my key takeaways:Mass...

I attended the AGM and here are my key takeaways:

Mass manufacture of the Hadrian robots
Someone asked how were they going to mass produce the Hadrian robots and the plan is for joint venture partners like Wienerberger/Brickworks to fund the manufacture of the Hadrian robots. FBR will provide the IP and the cashed up joint venture partners will provide the funds.

Wienerberger/Kingdom of Saudi Arabia MOUs
Someone asked directly about an update on these MOUs - it sounds like a Wienerberger joint venture is close and it was strongly implied that a manufacturing agreement would be part of this. The Kingdom of Saudi Arabia agreement is less progressed but discussions are still ongoing.

Display home
The slab for the Archistruct display home is ready but the house will only built at the beginning of 2020. Someone asked if the build will be open to the public and they said that it will be but they don't want 200 cars parked in the street so it was unclear to me if they will disclose the address. The slab for the Summit Homes display home is almost ready.

Approvals to build houses in WA
FBR have all the necessary approvals to build houses in WA. This wasn't clear to me in the announcement on 11 November as I thought that it was merely approval to build the display home. But Mike was clear that it was approval to build houses in WA.

Expo 2020
They were asked by the Federal Government to be the Australian representative for robotics. In the entire Australian pavilion there will only be 10-12 companies so it will be massive exposure to potential joint venture partners/customers.

Share price
Someone asked directly about the underperformance of the share price - the response was that they recognise that shareholders are unhappy however they are pursuing the path that they believe will deliver the greatest long term shareholder value. They also said that they are confident that the market will soon wake up to what FBR are achieving.

Overall I left the AGM very positive. I must admit that I have been concerned about the share price and I said to myself that if I didn't like what I heard at the AGM then I would sell. However, after the AGM I am confident that 2020 will be massive for FBR and long suffering shareholders will finally be rewarded.