And I posted the following concerns, which were not addressed:
How much capex is required to develop Nachu?
The BFS stated US$360m - you could probably add anywhere from 30-50% to that now.
How will MNS find US$480m+? The market cap is closer to $US35m... equity raising is not possible unless shareholders wish to be diluted 1000%+.
Then... the US doesn't have a free trade agreement with Tanzania: the graphite would need to be processed (presumably into active anode material) in the US to be eligible for IRA credits with US OEMs. How many more 100's of millions of $$ would that cost?
The current AAM project is pointless unless it uses Nachu graphite (which needs to be developed first). It will likely end up being another pilot-scale hobby project limping on IMO.
Management will continue to be paid, that's the main thing.
MNS Price at posting:
4.2¢ Sentiment: Sell Disclosure: Not Held
(20min delay)