FBR (ASX) If not the Pivacs then WHO?

Originally posted by GaryJitters: ↑

I may be the odd person in the room but I believe both Mike and Mark are the right candidates. That doesn't mean I'm happy with all decisions including share loan, high salaries during a time of operating from CR.

In regards to Mike, I think he cops a lot more slack from all of us. Mike spent a lot of time overseas pre covid. In return, we have a global partnership with Wienerberger we have also engaged with Xella and GP Vivienda. We are expected to see many builds around WA this year for many different structure types and a variety of local "builders". I believe we need to thank Mike for this however I do not know the whole story. It's now up to the machine and the software to demonstrate the viability. People are disappointed that the machine was meant to be ready years ago and I completely get that but in business, you generally uptalk things to create interest and in the case of FBR raise money and we know they don't have any troubles doing this.

In regards to the machine and its readiness. Is the CEO responsible? not in many cases. Yes it has built two structures on site however when we pay attention to the first build and second, we saw many small upgrades completed in a month between the two. I cant wait to see what improvements have happened since the second build and I'm sure it's a lot. The machine is proven however it is not yet ready for commercialisation but likely close. Some of the major hardware works going on include the speed at the bottleneck (loading bricks) and the build of 110 is expected to begin in the first half of 2021 which was covered in the Managing Directors Letter to Shareholders. While we focus on the machine the software and interaction of WaaS are just as critical and I am referring to HMI, TAD and JIT. No point in having great tech for the masses if it requires a programmer to run it and I'm not sure all this responsibility falls on the CEO especially as it's world-first technology.

As has been discussed new businesses coming into the Hadrian realm all need to undergo planning, change of management and align to new processes. This has even been advised by FBR that it takes time from engagement to actual builds. This will continue to get faster in time but for now, it's still a world-first finding its way.

I think Covid was lucky timing for FBR. They seemed set to send a half baked machine overseas but now the opportunity exists to advance the key components and make it faster, more reliable and operationally friendly. This machine will sell much quicker once those things have been achieved. I remember watching all the issues with the autonomous fleet in mining and the impacts it had on production but they got a great productive system in the end.

If I was to put my main negatives forward for Mark and Mike they would include share grabs, high salaries during early stages and keeping investors informed. They have been quiet for a while now and those of us invested like to feel a part of the journey and better understand the challenges and achievements so we know our money is well-positioned and i think this is one thing they can easily address and improve.

In summary, I think Mark and Mike are the right people after all they got it this far. That doesn't mean I'm blinded or happy about all things and it also doesn't mean I don't wish it would come faster. I do feel for the investors who have been here longer than me, I've only followed this for three years and many on here have followed it much longer. I do feel we shareholders will be rewarded over the next couple of years in terms of dollarydoos and from there it will only continue to grow.

Expand

I agree with you so maybe it's just you and me.
mike does need to sign up a deal and soon but like you say, it is the machine that was not ready.

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