By
Steve Herschbach
From https://company-announcements.afr.com/asx/cda/d72645a4-716e-11eb-8e1f-ee060ef5e0c8.pdf
February 18, 2021
Metal Detection – Recreational, Gold Mining and Countermine
Minelab is the world leader in handheld metal detecting technologies for the recreational, gold mining, demining and military markets. Over the last 30 years, Minelab has introduced more innovations than any of its competitors and has taken the metal detection industry to new levels of technological excellence.
Minelab delivered another record first half, with sales increasing 55% to $155 million. The growth in recreational and artisanal gold mining sales were due to our ongoing geographical expansion, investment in our distribution channels and new product innovations. The unique and distinctive technology embedded within our metal detectors underpins the success of this business. We are particularly pleased with the further diversification of our sales revenue, with our products now achieving market leadership at each key price point.
Minelab recently introduced the new GPX 6000, which includes our latest GeoSense-PI (Pulse Induction) technology. This technology automatically tracks and removes unwanted ground noise, providing an easy to use, light weight and high performance machine. This product will be released to the market in significant volume from Q4 of this financial year.
We continue to observe strong demand for our metal detectors with January achieving an all-time record level of sales.
Note that the Minelab fiscal year runs from July until June of the following year, so fiscal year 2021 is already half over. The mention of the GPX 6000 being released in volume in Q4 is referring to April - June of this year.
Minelab has dominated $1500 plus high end metal detecting for some time. This note “We are particularly pleased with the further diversification of our sales revenue, with our products now achieving market leadership at each key price point.” highlights that with the introduction of the Equinox and Vanquish series, Minelab is probably also now the leading seller of mid-range and lower price detectors.
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now