Nov 30, 2016 | By Benedict
Shares in Aurora Labs, an Australian manufacturer of metal 3D printers, rose dramatically earlier today after the company announced negotiations with a major engineering company. After rising to an intraday peak of 5.39 AUD, shares closed at 3.52, marking a 0.54 (18.12%) increase.
Since a 2.8 million AUD investment allowed it to debut on the Australian Stock Exchange back in August, metal 3D printer manufacturer Aurora Labs has been drumming up a lot of interest both domestically and abroad—and from huge organizations, too: around the time it became listed on the ASX, NASA declared interest in the 3D printing company. Despite NASA’s reported interest, however, it seems like another business could have dramatically pushed up the company’s share price today, with Aurora Labs suggesting that a “major engineering and project delivery company” was close to agreeing to sell and distribute its metal 3D printing technology.
With the information about the negotiations out there, shares in Aurora Labs opened trading on November 30 at a price of 3.70 AUD, after closing at 2.90 AUD the previous day. To put that rise into perspective, shares in the 3D printing company were valued at just over a dollar around the start of November, while the company listed in August at an issue price of just 20 cents. The current share price gives the Australian 3D printer manufacturer a market capitalization of about 193 million AUD.
Aurora Labs CEO David Budge
Although details are scarce of the reported business deal between 3D print specialist Aurora Labs and the unnamed engineering company, Aurora Labs said it was working on a non-binding terms sheet with the engineering company. The metal 3D printer manufacturer also said it had been in discussions with some of Australia’s major mining companies, suggesting that its metal 3D printers could be used to 3D print spare parts either on mining sites or at special 3D printing facilities.
At present, up-and-coming additive manufacturing company Aurora Labs has two 3D printer models: the S-Titanium (40,000 AUD) and S-Titanium Pro (43,000 AUD). The smaller S-Titanium has a build volume of 150 × 150 × 500 mm, while the larger Pro can print up to 200 × 200 × 500 mm. The Pro also has a more powerful 300 W laser, compared to the 200 W of the S-Titanium, but both metal 3D printers have an XY resolution of 50-70 μm.
Aurora Labs' performance today and since its ASX debut in August (Bloomberg)
In addition to developing 3D printers, Aurora Labs also makes a range of metal powders suitable for additive manufacturing, as well as laser, lenses, mirrors, and other accessories for 3D printing.
Comparison of the S-Titanium and S-Titanium Pro 3D printers
Posted in 3D Printer Company
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