According to this article, FFT and Strata Worldwide sucessfully closed up a trial at a coal mine located in South Africa, whicn started back in 2020. The trial was sucessful both above and below ground. The client was discussing about having the system installed on equipment at three additional mine sites.
I'm surprised that AVA said nothing about this sucess and that was way before the FY21 report. I know it's not as good as signed contracts on the table, but still, reading news like that gives me lots of extra confidence. There's a great chance that Aura IQ is as awesome as they described.
FFT now have around 12 POV trials completed/in progress. If each trial can transfer into 2-4 or even more contracts per mining site, the recurring revenue from initial contract should be pretty sweet already. That would be roughly 200 km of conveyor belt providing high margin cash flow charged monthly per km, for the next 5-30 years with no expansion or new contract. Feel free to insert a price per km per month to make you happy.
Again, I could be totally wrong.
AVA Price at posting:
46.5¢ Sentiment: Buy Disclosure: Held
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