Sorry for the absence. Been doing 3 jobs at work and budgets were a killer. I hope to have more time to lose money now :). Actually had time to pick up 20,000 shares of CYM at $.185 CAD today. The smell of war is in the air and their announcement today of their first order after 4 years of prototyping to protect vehicles from IED's looks good. About 15 million shares out not including the the debenture conversion possibility.
stateside
Cymat receives $400,000 SmartMetal order from Panhard
2015-12-07 09:52 ET - News Release
Mr. Michael Liik reports
CYMAT ANNOUNCES FIRST SERIAL-PRODUCTION MILITARY VEHICLE ORDER WITH GLOBAL MILITARY VEHICLE MANUFACTURER
Cymat Technologies Ltd. has received an initial order from Panhard General Defense, a division of Renault Trucks Defense and part of the Volvo Group, for 250 SmartMetal vehicle blast mitigation kits. The kits will be installed on the underside of Panhard's light armoured protected four-by-four wheeled class of vehicles. The SmartMetal panels have been engineered to provide a lightweight solution offering occupant protection from blast energy such as that resulting from the detonation of improvised explosive devices. The approximate value of this order is $400,000 with delivery expected during the first half of calendar 2016.
Panhard has supplied over 18,000 wheeled military vehicles to 50 plus countries. Panhard's current stable of light protected four-by-four wheeled vehicles includes the PVP, VBL, and the next-generation VBR and CRAB, of which there are currently over 3,500 in service. Renault Trucks has over 30,000 military vehicles operating around the world with a group of vehicles that includes the four-by-four armoured Sherpa and the six-wheeled armoured VAB.
"This initial order is the gratifying result of a four-year development process with Panhard, while also validating the company's military strategy and establishing the military sector as a significant new vertical market we will focus on," stated Michael Liik, Cymat's executive chairman. Mr. Liik added: "Our expectation is that such a significant resource commitment by a major global military player like Panhard is likely to yield further SmartMetal deployment with this group of military vehicle manufacturers in addition to Panhard. Cymat also continues to be actively engaged with several other defence and security industry OEMs in the development of energy absorption systems for vehicles."
"This order, combined with the nuclear application order announced on Nov. 30, 2015, and the Alusion business announced on Oct. 6, 2015, has significantly improved Cymat's cash flow and puts us in a solid position as we move toward our fiscal year-end," stated Darryl Kleebaum, Cymat's chief financial officer. Mr. Kleebaum added, "Cymat's management team is pleased with our robust pipeline of new business opportunities which is the strongest we have worked with in a number of years." |
