Ann: Sconi Project Offtake Agreement with SK Innovation, page-348

Its quite simple really. The project can't get funding due to its marginal metrics. SKI is not prepared to put funds in - probably due to risk - and is not prepared to commit to another 6 months of waiting. So has left the table.

There is a significant downturn in the demand for EV batteries and battery materials due to phssing oit of Chinese Gov subsidies. Will take a year or so to work through with stockpiles of materials being good for some time.

There is highly unlikely to be any short term joy here. SKI will be extremely hard to replace. It is either a sell or a bottom drawer/come back in 2 years scenario from here. By late 2021, perhaps the Euro and US markets will have lifted demand enough to make the project viable.