$DRONESHIELD LTD(DRO.AU)$   DroneShield's share price has been appreciating following its $32.2m sale to an APAC customer. This was the upside expected with the SP down as low as 60c earlier this year. Historically our biggest previous sale was $33m back in 2023 which was to the US govt and had links to the Ukraine aid package. This contact, rather a set of small ones all at once, confirms that DRO products do sell and to a broadly diverse market. Good things ahead for the year if they continue to bank material sales - looking ahead to the Land156 contract in the next few months.

$DRONESHIELD LTD(DRO.AU)$  continues showing strong performance as rotation into defense stocks continues. Short interest still reasonably high at 6.31% as of 13 March. Further upside expected as this unwinds however, material sales announcement needed in the near term to support the growth thesis that is underpinning the price action. Significant event to watch for is the Australian govt Land156 contract worth $300m+ AUD which should be announced by June/July. I would not expect DRO to win the full amount but a large percentage will be expected given the sovereign nature of defence considerations. Watch too the AUS v US relationship. Expected to fair better than others - any material changes here could impact fut

$DRONESHIELD LTD(DRO.AU)$  significant volume of sales went through on Friday Feb 28th which can now be confirmed as shorts covering - down to 6.8% from 10.76% on 18 Feb a drop of 17m. Regal Funds have shown their hand as a buyer now over 5% which they continue to add to. Could wax lyrical regarding the wider macro tailwinds on defence spending and changes to law which will boost sales but as always the proof is in the contract. Expect to see steady growth of SP but may explode on material sales announcements. Expect to revisit $1 in the near term with $2-3 in play should sales exceeding $200m occur this year. Critical contract for Land156 expected to be announced by June/July this year.