By Steve Herschbach
Metal detector sales up 30% (Recreational 11%, Gold Prospecting 42%) -
Africa is the largest market by far (due to gold prospecting detectors) -
New gold prospecting model coming GPX 6000 -
X-Terra and Safari discontinued -
Thirty million invested in Engineering / R&D. No wonder the competition can't keep up! I found it interesting that even with the new Vanquish and Equinox, sales growth is heavily weighted to the gold prospecting models, illustrating the relative size of the markets. The big money is in gold prospecting detectors, as further evidenced by sales in Africa in particular. And although a new GPX model is specifically indicated, there is no such hint about a new coin detector release soon.
Well positioned for FY21:
• Strong start to the year and in line with FY20
• Demand for our metal detection products remains strong
• Minelab will benefit from a full year of Vanquish® sales and the release of a new gold detector
• Current travel restrictions may impact Tactical Communications business development
• Minetec is expected to return to profitability
• Strong balance sheet allows us to explore strategic opportunities
Business update at virtual AGM on 28th October 2020
I decided to see if I could balance out the Nox without too much time or $ involved. So far I'm at $7 and we'll see if this will even pan out. First, I moved my control box forward 11/2" moved my armrest forward as far as possible and added some ballast at the very back. I used 9 3/4" washers, with a piece of 3/4 round stock in the center as a bushing. I ran a 1/4" hole thru the bushing and mounted it in the last armrest hole. I'll see if the extra weight is worth trying to balance the machine just a little bit more tomorrow when I take it for spin.
By Steve Herschbach
Come to find that forum member Mike Haer has a weekly podcast each Monday that I have been generally oblivious to though I think I linked to it in the past on a given subject. Anyway, Mike had another new forum member, George Kinsey, on last week and the forum was mentioned. Many hours of listening available there from past shows so check it out. And thanks for the mention guys!!