Ann: Tanzanian Update on Nachu Graphite Project, page-52

Tony, there are untruths and misinformation told and purported on here by both holders and non-holders. It seems, at least to me, that there is a lot more tolerance for the untruths and misinformation from the holders.

My original issues with Magnis stem from the Nachu BFS. I have always said that I believed that the company was misleading the market because they would not be able to sell 240,000 tpa. I also said that the basket pricing in the BFS was overly optimistic. The second point is less true now than it was at the time thanks to increasing graphite prices. The first point is proving to be absolutely correct, given that so far you have a little over 10% of your planned production output secured by sales/offtake agreements.

Now Magnis is putting out announcements about being a world leading lithium-ion battery manufacturer, yet so far they haven’t produced a single feasibility study for any of the proposed gigafactories. And then there’s the claims by some posters on this forum that Magnis’/C4V’s battery technology is going to takeover the battery world, which is preposterous and absurd given the complete lack of evidence that the automotive industry will utilitise this battery technology. In fact, almost all of the evidence suggests that automakers will continue to use current generation lithium-ion batteries.

Would you like me to get started on Magnis’ failure to update the market when things don’t go to plan? Does Sinosteel, Sinoma or Rosatom ring any bells?? Eventually Magnis’ announced that it was cancelling the offtake agreements with Sinosteel and Sinoma, although no explanation was ever provided to shareholders or the market as to why. What’s happening with the Rosatom MOU, are they still interested in Nachu graphite or not?