DRO 22.3% $2.02 droneshield limited

Ann: Response to ASX Price Query, page-44

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    Anyone have the full article? Thanks

    https://www.capitalbrief.com/article/short-sellers-circle-droneshield-as-it-nears-wild-2b-market-cap-ade56101-a3ab-41c6-adaa-4be3720d5a96/preview/

    Short sellers circle DroneShield as it nears 'wild' $2b market cap

    The defence tech play, favoured by retail traders, has become 10-bagger in just 12 months and is more valuable on paper than some big ASX names. But sceptical short-sellers are circling.

    45e06a1f-f054-4f83-b14a-09527edf2779?key=img-author-sm

    JACK DERWIN

    5:00am today
    ?key=img-leadDroneShield is beginning to attract interest from short sellers. Supplied.

    It was one of the best performing stocks in the All Ordinaries last financial year, gaining a whopping 646%. But the stunning rise in DroneShield has sparked scepticism in sections of the ASX small cap universe.

    On Monday the defence tech company closed at a record $2.60 a share, giving it a market cap of $1.98 billion - making its equity more valuable, on paper, than prominent names such as Graincorp, Air New Zealand and Magellan Financial – at least for the time being.

    Not everyone is convinced the prise rise is sustainable.

    "Its valuation is wild," Rodney Forrest, director of Sublime Funds Management, told Capital Brief.

    "Cumulative losses sit at around $40 million. There's been a three times increase in the share count, no change in the profit pool and the insiders sold stock at 70 cents.

    Putting his money where his mouth is, Forrest – who previously worked as an analyst for the family office of Platinum Asset Management co-founder Kerr Neilson – has now entered a small short position against DroneShield, betting its momentum is unsustainable.

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    https://edition.cnn.com/2024/07/11/asia/south-korea-antidrone-lasers-intl-hnk-ml/index.html

    South Korea to mass produce lasers that can take out drones at $1.50 a hit





    The Block-I laser system is shown in a handout photo from South Korea's Defense Acquisition Program Administration.
    Seoul, South KoreaCNN

    South Korea is beginning the mass production of a low-cost laser weapon that has successfully shot down small drones during testing, the country’s key arms agency said Thursday.

    The laser weapon, called Block-I, “can precisely strike small unmanned aerial vehicles and multicopters at close range,” a news release from South Korea’s Defense Acquisition Program Administration (DAPA) said.

    The release did not give a cost for the weapon, but said each shot fired would only cost about $1.50.

    Imagery supplied by the agency appears to show a weapon around the size of a shipping container with a laser mounted on top and what appears to be a radar or tracking device mounted on one side of the platform.

    DAPA said the unit measures 9 meters by 3 meters by 3 meters (29.5 feet by 9.8 feet by 9.8 feet), and fires laser rays that are difficult if not impossible to detect before impact.

    “It is invisible and noiseless, does not require separate ammunition and can be operated only when electricity is supplied,” the DAPA release said. Future versions could be developed to take out much bigger targets, including aircraft and ballistic missiles, which would be a potential “game changer,” according to the release.


    DAPA will develop “a laser anti-aircraft weapon (Block-II) system with improved output and range compared to the current one,” the release said.


    ADVERTISEMENT

    But the Block-I weapon itself comes online at an important time. In Ukraine, the Middle East and elsewhere, small drones - some available off the shelf - have shown the ability to disable or destroy multimillion-dollar pieces of military hardware, including tanks.

    Militaries have typically responded by trying to take out low-cost drones with defensive systems that cost tens of thousands of dollars per strike. A weapon that could do the same for practically pennies would be a big boost to the country that can deploy it.

    “Low-cost drones and rockets have swung the economic calculus of offense and defense in favor of those using large volumes of cheap unmanned systems and munitions to overwhelm more-sophisticated air and missile defenses,” James Black, assistant director defense and security for the RAND Europe think tank, wrote in a blog post in January.

    DAPA said the Block-I weapon has been in development for five years, with more than $63 million invested.

    The Korea Institute for Defense Analyses led the system development with participation from Hanwha Aerospace, it said.


    The system was evaluated suitable for combat in April 2023 after achieving 100% success in shooting down targets in live-fire tests, according to DAPA.

    The agency said South Korea is the first country to publicly acknowledge it will deploy a mass-produced laser weapon.

    Earlier this year, Britain showed off a new laser weapon that its military says could deliver lethal missile or aircraft defense at around $13 a shot.

    But no possible deployment date for that weapon had been announced.

    In 2022, the US Navy successfully tested a high-energy laser system against a target representing a cruise missile.

    But a Navy account of that test said there was no plan to get it into the hands of warfighters, adding that it “offers a glimpse into the future of laser weapons.”

 
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