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Manticore Now Shipping To Dealers!


Swegin

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This is exciting news!!!! Got the Axiom from Gerry about a week ago and it's been a blast to learn, can't wait to get the manitcore, I have the nox 800 and It's also been super fun to learn time for the big brother though!!

Heavy Pans Guys and Gals!!!

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My guess with the information at hand at the moment is a rehashed Equinox, they know it has a bad build quality from the coil ears to the leaking and everything in-between and with their competitor having a cheaper, better build quality clone of the detector that appears to work just as well they need to do something about it.  The competitor has even made a mockery of the Nox build quality to advertise their product along with their advertising being a direct attack on the Nox, more for less!

So yes, a rehash of the Nox with these things fixed is required to try claw some sales back from the competition.  At the moment it wouldn't be a very wise decision to buy a Nox when the competitors product is cheaper, just as well performing, is actually waterproof and regularly provides firmware updates to improve the detector and fix up it's problems.

It is very clear there is no new high end gold detector like the GPZ 8000 coming out in 23 so it's not that like speculated.

All they have plans for in 23 is coin and treasure detectors, like they'd said in previous investor reports they are now having a focus on that market as at the moment that's where the money is.    Their African sales are declining severely as stated from their report to investors, "In FY22, Africa sales reduced to ~26% of group sales (from 46% in FY21)"  Africa – historically Minelab’s largest market – remains materially disrupted.    Launch of several new coin and treasure detectors, slated for release in FY23. 

H1 FY23 Minelab guidance of:
• Sales: $75 to $80 million¹ (vs $138 million in H1
FY22)
• Segment profit margin: ~30% (from 45% in H1
FY22)

They spin it to sound like they've got record profits every year, but that's across the broad business including communications and counter-mine which the war in Ukraine has helped with immensely with big orders of counter-mine products.    Minelab if separated is doing quite poorly.

https://codan.com.au/wp-content/uploads/2022/10/ASX_CDA_Codan-Limited-2022-AGM-Investor-Presentation.pdf

As I'm going to buy the Manticore I have no interest in a new model of an Equinox.  It seems like a sensible thing to re-release though, as they say it's better the second time around.

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1 hour ago, phrunt said:

They spin it to sound like they've got record profits every year, but that's across the broad business including communications and counter-mine which the war in Ukraine has helped with immensely with big orders of counter-mine products.

Well, it's the Codan report, not the Minelab report.  I was surprised when digging through the slides that they were as forthcoming as they were about dip in metal detector sales.  (Note that metal detectors are still their most profitable in terms of Return on Investment, just not totals sales.)  They also mentioned some fresh debt which might (or might not...) explain part of their stock price dip.  Then again, borrowing money for the right reasons (e.g. R&D investment) can be a positive effect. 

I almost LOL'ed when they highlighted our USA state of Iowa as one of their highlighted sucesses!  🤣  That right there tells you how desperate they must for positive news.  Not picking on Iowa, they just happen to be in 4th place when it comes to states starting with 'I'.  (That's alphabetically.  I don't want to get in trouble with Steve.  And note I didn't say who was #1, well, Idaho by the same measure.  But even Gerry knows not to toot their horn too loudly.  Just kidding around.  No, really....  Gerry, I'll vote Idaho #1 overall if you'll move me up on the Manticore waiting list.  🙏)

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Anxiously awaiting Gerry's shipment!

Now, haven't heard anything, so presume there's nothing to hear, but I'm also anxious for that small elliptical coil.

- Dave

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1 hour ago, UT Dave said:

Anxiously awaiting Gerry's shipment!

Now, haven't heard anything, so presume there's nothing to hear, but I'm also anxious for that small elliptical coil.

- Dave

I don't need to get my customers in a tizzy until I know the facts.  Fact is, no detectors have shipped to me from Minelab USA.  Fact is Minelab USA would not tell me how many they were getting, even though they know.  Reality is, I don't need to know that, but I was hoping to get an idea if I was expecting 1 unit, 2 or 4 or 10 or 50 or 100 or more.  My initial order was way more than most from day 1 back in Aug.  So if they go that route, then many dealers who don't know a good product won't get any.  That's totally fine with me, if a dealer drags his ass and can't tell a hot selling product.  But I know Minelab and have been told by them...this Management team thinks everyone is equal.  A lazy dealer complained, probably the same kind who never spends a dime to show up at the dealer conferences, or the same kind who never tries to get a product ahead of time and put it through it's passes.  Yeah we have a good portion of them.

Well, I looked out the window and we have snowflakes falling.   Guess I'll get the blower out again and clean the fluff out of the way.  Or just toss in the towel and ride that last wave...

It's all good and when I get facts I'll touch base with the appropriate amount of eager customers.

 

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38 minutes ago, Cal_Cobra said:

My dealer sent me this email this morning:

Manticores starting shipping to US warehouses yesterday.... You are number  1 on the list..You still wanting to purchase  ?

Okay take my money, I ain't mad about it.... 🤠

Well that could be the case.  Guess your distributor know more than the one in TX.  TX Distributor (as of 2 minutes ago) has not heard a word from Minelab USA.  Either way, it's getting close and hopefully you get your unit and your dealer has bunches more, then that tell me, I'll be in the same boat very soon.

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Well first ever post on here, have learnt heaps by reading etc.

I have just returned home with my New Manticore.

Probably one of the first but i am in the same State as Minelab In Australia.

Just letting People know they are on the move :). Hopefully of to the beach tonight.

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