KCF are definitely time wasters. well it doesn't cost them much to extend the agreement, maybe a few hundred in legal fees, and KCF might pull off a miracle so why not.
the main positive i took from the report is that Dubbo may be eligible for a DOE loan. could still be over a year away though so in the mean time they really need to get their shit together with finding an equity partner and offtakes.
the main concern i have is that they haven't mentioned anything regarding the next stage (stage 2) of the EPCD (stage 1 completed mid-2023). in fact the report doesn't even mention Hyundai. my guess is ASM can't afford to undertake the next stage of the EPCD because they dont have enough money to keep the lights on at the same time. if i recall, stage 2 required the bulk of the EPCD cost to be paid, around $30M? hope the relationship with hyundai is still good.
ASM Price at posting:
$1.00 Sentiment: Hold Disclosure: Held
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