Ms Share Discussion Threads

[cockerhoop] 07/2/2024 18:03

I think CUAS is evolving very quickly.

For high value assets I suspect a layered approach will be adopted with a mix of missiles, electronic counter measures and kinetic effectors like MSI's 30m cannons.

From my laymans view recent events in the Red Sea appear to highlight a gap between £1m missiles which can take out at range but at high cost and 30m cannons/20mm CIWS which are cheap but only have a 1-2km range. So a captain has to have the bottle to wait for a swarm to get pretty close before taking them out with a kinetic weapon. It's been reported that HMS Diamond had success in hitting drones with the original MSI cannon which has been upgraded substantially since.

The MOD has tested MSI's 30mm cannon with Thales Martlet missiles also attached to the mount in the past but didn't adopt at the time. That sort of system could perhaps hit the sweet spot between cost and range?

In answer to your original question MSI's 30mm system surpassed the US's expectations in testing for Mk38 Mod 4 but in the real world I imagine how many drones Terrahawk could take out depends on the number and speed of the drones.

[hydrus] 07/2/2024 16:09

https://www.defensenews.com/digital-show-dailies/smd/2023/08/08/pentagons-counter-drone-office-to-demo-swarm-destruction-in-2024/

[yasrub] 07/2/2024 14:53

A little off direct topic but if the hack info is correct/to be believed on shahed drones they are not cheap and it would seem Russia are fully committed to supply of them going forward.

[cockerhoop] 07/2/2024 14:35

I'm not quite sure I exactly understand the question but in testing MSI were particularly successful using programmable air burst ammunition (ie round explodes in the vicinity of the target sending shards in all directions) in counter drone applications.

[hydrus] 07/2/2024 13:52

Does anyone know how MSI land and sea based guns work against drone swarms?

[yasrub] 02/2/2024 21:11

Rheinmetall seem to be on the acquisition trail, wonder if MSI are under consideration?

[gleach23] 02/2/2024 08:54

SP looking strong this morning - only around 1k shares available to buy and the underlying Bid and Offer moving up.

Hopefully a precursor to a move towards £10.

[someuwin] 25/1/2024 11:01

Ticking up on very small volume. Imagine what will happen if / when they announce another big contract.

[gswredland] 15/1/2024 09:44

Very perky this morning!

[someuwin] 12/1/2024 10:39

"Rishi Sunak visits Kyiv as UK signs security agreement with Ukraine
Officials said the £2.5bn package will provide Ukraine with long-range missiles, air defence, artillery ammunition and maritime security - with Rishi Sunak stressing the UK's continued backing for Kyiv, amid Ukrainian fears interest in the war against Russia is flagging..."



Hopefully includes sending more of these MSI-DS Terrahawk Paladin air defense systems.

From 3 months ago...

"Ukraine to get newest drone killer system from UK..."

[norbert colon] 12/1/2024 10:33

Patrick Oshaughnessy has done at least 2 excellent podcasts about Anduril - well worth a listen.

[hydrus] 12/1/2024 09:24

Interesting anti-drone tech. MSI is right on the money with current and future threats worrying governments. https://www.wired.com/story/anduril-roadrunner-drone/

[cockerhoop] 11/1/2024 08:50

Yes, if Virtual Bayonet is correct with regard to USS Mustin then it's a significant increase in the US Naval revenue going forward. MSI had hinted that Mod38 Mk4 would be fitted to Flight IIA vessels but for it to be already happening is excellent news (if true).

It is possible these could be the evaluation mounts repurposed but even then MSI get the maint/refurb/fitting revenue until the test mounts are used up and then further new mounts ordered to continue the retro fitting.

[someuwin] 10/1/2024 13:13

Simon Hedger @vodkaquickstep ·1h

Of interest to those following #MSI

We understand the Mk38 Mod4 will be fitted to Flight IIa and Flight III DDG’s (Arleigh Burke) as new Flight III’s get built (2-3yr) and Flight IIa’s get modernised. There are around 80 active DDG’s with two mounts on each so this is notable.

[norbert colon] 10/1/2024 13:06

I must clarify (speculate) that Stonehage will hopefully only be trimming their position periodically to maintain the 10% cap due to share price appreciation rather than selling their holding right down.

[johndoe23] 10/1/2024 12:55

Is that Stonehage finished?

[someuwin] 10/1/2024 12:13

Cheers fft. Also very positive that the Stonhage Fleming holding in MSI at circa 10% of the fund is over three times the size of their next biggest (Netcall at 3.1%)

[fft] 10/1/2024 07:01

For confirmation of Norberts info about Stonhage Fleming, Here is their latest published AIM fund holdings as at last November. Since then MSI has risen. :

[cockerhoop] 09/1/2024 22:25

In fact MSI has pretty conservative revenue recognition eg The £22.4m VSHORAD contract was virtually complete at FY23 YE but no revenue for any of the 7 systems was booked in FY23 but booked on delivery in H124.

[cockerhoop] 09/1/2024 22:21

That's not correct Dan. Revenue is recognised on transfer of control to the customer ie delivery.

Yes some cash is received up front which is accounted for as contract liabilities on the balance sheet but does not go though P & L until delivery.

[dan_the_epic] 09/1/2024 20:09

the cash is not a fair used number because the revenue is recognised even before delivery of the goods because of payment up front

43m of cash

Current assets - current liabilities - contract liabilities is 20m

much lower

the contract structure forces very aggressive revenue recognition. good for msi but have to be careful

[johndoe23] 09/1/2024 19:20

Anything at this level is decent value

[harry_david] 09/1/2024 15:51

Norbert, I wondered where the selling was coming from, I was offered some yesterday which I took. It has not been reported as yet which is also strange. They are right now extraordinarily cheap, rocketing orders with advanced merchandise, heaps of cash in the bank, and a low p/e.

[norbert colon] 09/1/2024 15:08

Stonehage Fleming (the only insti on the register) are seemingly a forced seller given their fund mandate of max 10% in any single holding. They own MSI in both their 'AIM' and 'Opportunities' funds and both are at 10%. This is very unfortunate for them given the fun at MSI is only just starting and a great opportunity for retail investors to buy the stock they are forced to sell.