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https://codan.com.au/wp-content/uploads/2020/08/FINAL-INVESTOR-PRESENTATION-20-Aug-20.pdf

Metal detector sales up 30% (Recreational 11%, Gold Prospecting 42%) -

minelab-metal-detector-sales-2020.jpg

Africa is the largest market by far (due to gold prospecting detectors) -

minelab-global-footprint-2020.jpg

New gold prospecting model coming GPX 6000 -

minelab-gpx-6000-new-for-2021.jpg

X-Terra and Safari discontinued -

minelab-recreational-products-2021.jpg

 

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.

FY21 OUTLOOK
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

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Wow, I didn't realize how big the markets was in Africa......and how little it is in South America.

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I am disappointed in the Xterra having become obsolete. After swinging some Garrett and white units I got my first Xterra from Gerrys detectors in Idaho who is a dealer here on this forum back in 2008. As soon as I went out swinging that light weight and easy to read machine it was a complete change in my finds for the better. Then I added a DD coil and it got even better. I finally settled on the small 6 inch HF coil as my primary hunting coil. It did not get fantastic depth but was good for mild soil like I have here. It sure picked out the silver around old houses. 

16008758672116292476021444937858.jpg

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4 hours ago, bigtim1973 said:

Then I added a DD coil and it got even better. I finally settled on the small 6 inch HF coil as my primary hunting coil.

Wish you would have joined here and said that a few years ago.  I bought the X-T 705 with stock 7.5 kHz concentric, then got the two Coiltek 3.0 kHz DD's (6" Digger and 15"), next the ML 7.5 kHz 6" concentric, and finally the ML 19 kHz 6" DD.  It took that long (and that much $!!!) for me to find a coil that I liked for coin hunting.  I later added the stock (for the Gold detecting option) ML 5"x9" 19 kHz DD.  So you and I ended up at the same place!  A legitimate complaint of the X-T, as I'm sure you are aware, was that you had to buy a different coil to change frequency.

The iron wraparound of both lower frequencies drove me crazy.  If I knew then what I know now, maybe I could have worked around that.  I also finally learned after trying to beat my head against the concentric wall that I'm a DD person, exclusively.  But the Digger coil had the worst wraparound so it wasn't the coil configuration that caused me problems.  I've since heard more compliments of the gold prospecting side of the X-T 705 than the coin hunting mode, but that may be as much because this site leans toward that kind of detecting (although that has changed a lot lately).

I did OK with that the X-T 705 in spite of my issues with wraparound, but once I got the Fisher F75 the X-T was relegated to mothballs.  I even canabalized it to convert my ML Equinox to an S-shaft.  (I made sure to keep that reversible, though, in case I need to resurrect the X-T someday.)

Thanks for the reminders (I guess 🥴).

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On 9/23/2020 at 1:37 PM, GB_Amateur said:

Wish you would have joined here and said that a few years ago.  I bought the X-T 705 with stock 7.5 kHz concentric, then got the two Coiltek 3.0 kHz DD's (6" Digger and 15"), next the ML 7.5 kHz 6" concentric, and finally the ML 19 kHz 6" DD.  It took that long (and that much $!!!) for me to find a coil that I liked for coin hunting.  I later added the stock (for the Gold detecting option) ML 5"x9" 19 kHz DD.  So you and I ended up at the same place!  A legitimate complaint of the X-T, as I'm sure you are aware, was that you had to buy a different coil to change frequency.

The iron wraparound of both lower frequencies drove me crazy.  If I knew then what I know now, maybe I could have worked around that.  I also finally learned after trying to beat my head against the concentric wall that I'm a DD person, exclusively.  But the Digger coil had the worst wraparound so it wasn't the coil configuration that caused me problems.  I've since heard more compliments of the gold prospecting side of the X-T 705 than the coin hunting mode, but that may be as much because this site leans toward that kind of detecting (although that has changed a lot lately).

I did OK with that the X-T 705 in spite of my issues with wraparound, but once I got the Fisher F75 the X-T was relegated to mothballs.  I even canabalized it to convert my ML Equinox to an S-shaft.  (I made sure to keep that reversible, though, in case I need to resurrect the X-T someday.)

Thanks for the reminders (I guess 🥴).

I would have been happy to have told all of you all if I had only known about this forum!!

I did not spend as much as you have on coils because they were not as available back then for the different ones available now. I had both mid and high freq large minelab coils and small 18khslz 6 inch HF coil.

The reason I settled on the 6 inch coil and hunt with it was due to the fact the large minelab coils threw the machine way out of balance. ....there is a coil made by cors I think that has the ability to change frequencies with a 9 volt battery now. I saw it on eBay the other day and I am sure it only weighs 1/2 of what the minelab 10.5 inch Xterra coils weigh. 

I still am tempted to get another Xterra but If I wait long enough they may be marked down like crazy since minelab had stopped production of them. Will wait and see.

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17 minutes ago, phrunt said:

It displays how little the market for those machines is in comparison to the gold machines yet none of the competition are really players in the gold market, mostly just with VLF's too which aren't where the money is and if Minelab feels threatened in the VLF prospecting machine market it really would not be hard for them to pop out a new better one quite easily.

Starting off with the PI's what ML's competition has done for the most part (White's and QED) is to make them lightweight and affordable.  Apparently in terms of depth/sensitivity they haven't made it there (yet, in the case of QED)?  Garrett's ATX was affordable but even heavier than the ML's.  AFAIK the GPZ7000 has no competition (in its class, that is).

Steve H. has repeatedly (and maybe he'll correct me) said that you are splitting hairs in terms of gold detecting performance comparing/contrasting the following: 

a) Nokta/Makro Gold Racer and Gold Kruzer,

b) Fisher Gold Bug 2,

c) White's Gold Master (GM) 24k and GMX (maybe even the GMT),

d) Minelab Gold Monster (GM) 1000 and Equinox 800 (maybe even the Eqx 600).

And there might be a couple others (e.g. XP Orx) that have or should get consideration.

The bully gets enough credit already.  IMO we don't need to put them on a higher pedestal than they've already built for themselves.

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Hey Phrunt, I saw a show last night about New Zealand. I was totally shocked at how much it is like the USA actually as far as terrain goes. 

 

Also the gold fields and  terrain are very similar to the how it is out west here in the states.  There was an area that looked a lot like Scotland too. 

It was very interesting I must say. 

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3 hours ago, phrunt said:

Realistically at the moment in a global market they have no competition for mid to high end gold machines from what I can see.

If Africa really is the main market (overall, in terms of $) then ML probably has to screw up pretty badly to lose their position.  Apparently the best/only advertising there is word-of-mouth which boils down to reputation.  Once you've got the reputation it's difficult to be overtaken.

Fisher is going after the water hunters.  Garrett seems satisfied to just be going after their loyal customers....  Nokta/Makro continues to chip away at the IB/VLF market which has done pretty well for them so far.  Hopefully they have more (e.g. multifrequency and PI) to continue to gain ground.  Does anyone know what XP is doing?  There's always the possibility something comes out of East Asia, but lately they've tended to follow the lead of others (ethically or otherwise), just making the existing technology cheaper.

We may not see much positive change in the near future, at least that has a significant worldwide impact.  I guess there are worse things for the field.

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  • 3 weeks later...

 

On 9/19/2020 at 11:28 PM, cudamark said:

Wow, I didn't realize how big the markets was in Africa......and how little it is in South America.

Africa is their biggest market but they have no presence there in terms of an office etc.

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20 minutes ago, crow said:

Africa is their biggest market but they have no presence there in terms of an office etc.

Africa and the Middle East are managed as a unit, with the headquarters in Dubai. There are dealers across Africa. You don’t become the largest seller of gold machines in Africa and the Middle East with no presence.

https://www.minelab.com/usa/where-to-buy?geozone=2442

503C6304-9F13-425F-9849-D24D42CAA97B.jpeg

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