Worked with a fella 7 years ago and that is the first time I really heard about 3D printing. At the time it was in its consumer infancy, but he produced some bottle openers. I was underwhelmed*. 

In my 20’s I had a passion for vintage motorcycles. This was an expensive hobby that I grew out of it quickly as even if you could find someone with parts, they would sell them.  

Progress forward to this year, I am working with a mathematician who coincidentally is restoring a car – an Armstrong Siddeley Sapphire from the mid ‘50s. There were less than 10,000 originally built and as you can imagine, parts are getting progressively more difficult to source.  

He finds the part design for a piece of the steering column that was missing and goes about creating the template for a 3D printer, has the part created and it was successfully installed. Now I’m impressed. I’ve seen additive manufacturing that I could have used for my BSA.

3D Metalforge are not hobbyists, and they are operating in what is potentially an enormous market. The company has their products in the field and have been delivering for several years including with Singapore Ports. They are thinking about execution and are focused on pumps and valves somewhere there is “now” demand in a production environment.  

To say this is a small cap is an understatement, revenue is measured in thousands rather than millions, and they have been on a slow slide since the IPO. At least 3D Metalforge have a decent cash holding. 

And while the market may be huge there is also competition. There are at least 8 additive manufacturer companies on the ASX and that ignores the unlisted. 

This makes me think this is in the too hard basket. 

*acknowledging consumer vs commercial are different propositions.