Ann: NVX Provides Update on Synthetic Anode Materials Production, page-39

This is simply a very poorly worded and constructed announcement. It is full of ambiguity.

I interpret it as only relating to offtake - not the levels of production capacity. It is highly likely that there are offtake agreements sitting behind NDAs, and if there is not, then it is likely that they would be able to either stockpile the product to fill future contracts or even run spot market sales - there is definitely the commercial demand for their product.

They could have outlined their projected capacity rates for the next few years in more detail and even made broad statements regarding their plans for the product to ensure there was no confusion.

Obviously written by someone informed who lacks the perspective of their audience to understand what and how to communicate effectively. Pretty disappointing really.