Hi Alex,
I understand the frustration you are going through and this is in no way an excuse for FBR management. I just want to say, have you considered that even though FBR might be monitoring here. It is not an official channel for them to do so. I speak, from being here since the very beginning 2015. Just to give you some context from my personal experience.
Right from the beginning, 2015, FBR has been really transparent about what they need to do. What they will achieve etc. Their milestones/timelines are counted not even in quarters but on which month. They are also very active here. Which is a boon for people like us.
However I believe several things has happened since, and they decided to back off for these reasons.
1) The FBR employee in charge of community building, hotcopper communications was leaked. I asked about this to Mike itself and he said the employee was very very upset about it. Imagine your personal information including your address, kids, partner is leaked here.
2) There is definitely a concentrated effort to downramp its SP in here.
3) CAT happened, though that is a "boon" in terms of SP, I believe that is when you got your shares. I remember being puzzled why FBR has to send out announcements after the speeding fines to explain they did not understand why the SP is rising. And subsequent announcement, on how its just an MOU. I also remember during the roadshow, how Mike mentioned, "If we have done what CAT wanted, all the shareholders would be coming after me now."
4) their website do have a timeline/milestones. Its just like I said before its more vague now. This, giving the benefit of the doubt, could be due to negotiations issues, commercial sensitivity.
https://www.fbr.com.au/view/our-story
Having said all this, my concern. The "original" patent from goldwing is filed 2007. That means it'll expire in 2027.
https://patents.google.com/?inventor=mark+pivac&assignee=Goldwing+Nominees+Pty+Ltd
They have increased their patents these are some of their latest.Block for use in automated building construction
The present disclosure relates to the building industry and in particular to a block for use in automated building construction. In one aspect, the block comprises a generally cuboid body having a top and a base, a length extending between a pair of opposed ends, and a width extending between a …Loader for handling pallets and containers
AU2022902014A0Mark PivacFastbrick Ip Pty Ltd
Filed 2022-07-18 • Published 2022-07-28
VTOL Quad Jet AU2022902229A0 Mark Pivac Oldfield, Glen MR Filed 2022-08-09 • Published 2022-08-18
I find the last 1 interesting, but probably its not the same "pivac" we are thinking of. Then again, he does has an aerospace engineering degree. Would we see a VTOL HX in the future?
I believe, if you look at their latest patents filing,filed 2022,2023, multiple times. This is to get buy-ins from brick makers. It will mean HX is the only one that can handle it. This is not what FBR was established to do, and needs the help and support of brick makers. I think this gel well with what we know from Brickworks. If someone can kindly paste that interview with brickworks CEO. In it, he hinted heavily on how impressed he is with the HX, and how it'll help with constructions.
Which goes to my final point. At current SP, Brickworks owns 20%, they could easily do a TO any moment now if they wanted to. MG, FIL, will sell it out so there is no question it'll go pass the line. Yet, this has not eventually. I voted yes to all the performance shares. Simply because I know management has shown to use this as a "tool" for future negotiations. Don't like it, but like you've said, dillution is a necessary evil. As for renumerations, I've voted Yes as well. Why would anyone do a good job if they are working for peanuts?
PS: I recently found out China is the largest exporter of cars currently. German cars has been relegated to third position now. Things change, I believe with the HX, it'll be a game changer. Australia could one day house the largest builder in the world?
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