All I can say is "what the hell guys?"
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Craziness indeed. Certainly the BFS cleared up many of the questions I had previously raised here, specifically ... who the F is gonna pay a premium for nothing but +300 flake. Funny how the
kings of jumbo are now frantically trying to sure up their
fine flake distribution (yep even sub 150 microns). Amorphous flake has trebled, medium has more than doubled.
A strategic business plan is coming together, not a drummed-up spruikathon in the style of S.Hunt. Anyway I am sure the likes of Syrah have stood up and taken notice because Magnis is maneuvering straight towards their prospective customers.
The price action has been nice too. But to play the devil's advocate, this is just the beginning ... raising US$269m CAPEX will be a monumental task. Seriously, massive! Obviously the Chinese deals are a concern for obtaining a loan. This is why MNS has been seeking that elusive western-offtake for some time.
As
@KenRtheGambler noticed the financing time-frame has been pushed out. Fair enough. Because, despite what is said here, MNS worked with it's Chinese partners refining their flotation process not Western potentials. MNS is yet to sign an MOU with any western names. Now, consider that the 3 current graphite offtakes by Australian graphite companies with Western partners took 16 months, 10 months and 5 months to convert from MOU to binding-offtake... it is not going to happen over night ... but it .......
ANyway let me leave you with this parting table (I felt drunk and needed a double take initially when I read the distribution)
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IMHO and GLTAH, CHeers, R
(20min delay)