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SMN - STRUCTURAL MONITORING SYSTEMS PLC


mminion

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Hi All,

With thanks to Poseidon1945 :graduated: on HC, I've obtained a copy of the AISC-SHM agenda for the meeting which took place just recently in Cologne (attached).

The meeting was attending by Dennis Roach of Sandia & I believe also by representatives of SMN (excuse my highlight).

 

CheersDr_Dazmo

 

 

Agenda_AISC_SHM.pdf

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Hi All,

Just wondering if anyone knows or has any idea how the Morningstar Quantitative analysis on Commsec works???

 

It is currently

 

MorningstarTM Quantitative

07 May 2019

Undervalued

Fair value $0.93 Liquidity Medium

3 out of 5 star(s) ratingWas Fairly Valued on 17 Apr 2019

 

 

It was only $0.86 earlier this morning, but seems to swing about a bit.

Thanks

Dr_Dazmo

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Interesting thoughts but wonder if you have considered the value in CVM has always been in compliance $ savings, not in avoiding a defect / issue.

 

Yes the engineering is sound, it wouldn't be in use if it wasn't, but how often does it need to be inspected after installation?

 

In saying this though, during these inspections, where things needs to be pulled apart to access the areas that need to be tested with incumbent methods (eddy current, visual etc), then put back together, wouldn't it be advantageous to avoid the entire disassembly process. It opens up the potential for human error / incidental damage on an otherwise sound installation.

 

Wouldn't it be far preferable to have a sensor in place that can do the checks for you by merely plugging in a handset?

 

Genuinely interested in your thoughts / response and discussion around this given you are on the ground doing this type of work.

 

 

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the value in CVM has always been in compliance $ savings, not in avoiding a defect / issue.

 

I can't answer that with authority. I'm no expert when it comes to CVM tech by any stretch and only speak from my own experience.

 

If there are known problem spots which generally develop over years and multiple pressurization cycles, I see there maybe a place for CVM monitoring but I struggle with widespread use of it.

 

how often does it need to be inspected after installation?

 

In our installations I am not aware of any extra inspection. The radome comes off if an antenna goes U/S where it would get a general visual inspection. maybe during a C check a full crown inspection would be carried out. In this case I would guess it would be detailed visual inspection. Unlikely any NDT (non destructive testing) would be used unless a problem was detected or history is developed from defect reports from other operators.

In saying this though, during these inspections, where things needs to be pulled apart to access the areas that need to be tested with incumbent methods (eddy current, visual etc), then put back together, wouldn't it be advantageous to avoid the entire disassembly process. It opens up the potential for human error / incidental damage on an otherwise sound installation.

In new installations where do you put sensors? Everywhere? Guess where the weak spots are? What if you are wrong and cracks develop elsewhere and remain undetected?

I don't want anyone to think I'm talking this down, I wish it and investors the very best.

 

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Mate, your best form of attack is to give CVM the flick! CVM is definitely not for you.

 

I gather your more of a money man, so how about investing in APT.

 

The market is telling you this is a sure thing. A market cap above 6 Billion without ever making a profit.

 

If your looking for structural cracks, that's your best place to start looking.

 

Good luck.

 

 

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Grow up mate.I'm providing constructive back ground based on actual on the job experience. Over 40 years of it. If you cant handle that, you are in the wrong stock.

I don't own it, I dont do much spec investing these days nor am I in Afterpay.

 

 

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Thanks for the response, all very logical. Definitely see what you are saying and agree for the larger part it may not be as clear cut as SMN is making out.

 

It would be interesting to hear the company expand on the subject particularly in the case of the WiFi radome application. As we understand / have been told by the company, there are mandatory inspections required for specific areas for the WiFi radome installations. The sensor design would cover the regulators or OEM's inspection requirements I would expect. See images below from a company presentation for CVM applications they have identified and their associated check frequency from initial check to repeat. These applications have been identified by DAL.

 

They state in the presentation that every 300 cycles the WiFi Antenna is removed and eddy current is used to inspect around each of the fastener holes. So very regularly. SB driven.

 

The aft pressure bulkhead they are also targeting as a viable application doesn't mention check frequencies, however being difficult to access they could check it regularly without any disassembly.

 

It has certainly been said over the years that the viable applications will likely be around allowing airlines to get extended use from their fleet while reducing the burden of associated regular inspection schedules.

 

I guess all we can do it wait and see. It is encouraging that Delta have been driving things forward. They seem to see value in the technology, and for not insignificant amounts of revenue for SMN should it all play out as us shareholders hope.

 

post-465623-1557464183_thumb.png

 

post-465623-1557464192_thumb.png

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That wifi is a different installation to the one I am working with. As I said before, I believe there is a niche for the CVM tech as indicated in your post. How far reaching that will be I am uncertain. Tbh, I have no idea what the revenue and more importantly profit will be made.

 

They maybe better off moving to the states completely given that really is the place for aviation. We are a backwater. We have some very good carriers but SMN need to be in the faces of the large airlines and their MROs.The FAA call the tune for many national regulators also, ie CASA here.

 

SMN is not on my radar . I'm too old to jump into too many speccies, but quite interested due to my aviation background.

 

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Hi All, this is an extract from the annual report End of June 2017.

 

The Company, via this Agreement, will now move quickly to secure global adoption of CVMTM for "hot-spot" monitoring in civil fixed-wing aviation. This adoption cycle will primarily focus on the retrofit of existing aircraft and, over time, likely move progressively toward the installation of CVMTM at the point of manufacture. The Company's primary initial operational goal of the Agreement with Delta is to approve multiple applications on multiple aircraft types. Once approved, SMS will promote this "portfolio" of applications to all global airline operators. With ongoing adoption, licensing revenues - combined with sensor and equipment sales - will be expected to be substantial, and perpetual, in nature. As a Company, we believe that a naturally evolving industry adoption of CVMTM as a unique and fully-validated technology is now virtually assured. As SMS moves towards the establishment of a global portfolio of approved applications, operators will increasingly employ CVMTM technology in order to maximise aircraft utilization, and the associated "in-the-air" revenue to be earned from their respective fleets. www.asx.com.au Smn annual report 2017.

 

 

What this tells me over the last two years is the progress SMS has taken to establish CVM technology as the preferred application in monitoring hard to get to areas on any aircraft in safety maintenance A,B,C & D checks.

 

This is what we now know:

1. Sensors are being installed on B757 aircraft for application approval by FAA. We know that the FAA has release a new AD on all B757 aircraft as per link.

 

https://www.federalregister.gov/documents/2...mpany-airplanes

 

This AD comes into effect on 22 May 2019.

 

2. Sensors are now being installed on 20 x B737-NG aircraft on Aft Bulkhead. This is to be completed by years end.

 

3. In my opinion and my opinion only, I am expecting news in August from SMS in regards to the WiFi applications as per previous announcements.

 

Everyone involved in the aviation industry knows that CVM is not the one stop solution in crack detection on all aircraft. Other technologies will have there

Areas on aircraft to make all aircraft structurally safer in the future than they are today, and that is progress.

 

I hope this drops the penny on all the people who keep asking "When are CVM sensors going to be installed on any aircraft?"

 

Hopefully, everyone can move forward and talk about the future instead of looking at all the negatives.

 

No amount of legislation can help the stupidity of people.

 

Good luck

 

 

 

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