You don't have product for offtakers to qualify. I cant even remember if there are any MOU's with potential offtakers or is ATC locked in with Mitsubishi on a dodgy sales agreement?
This is such a specialised product and the biggest mistake Iggy and the board made was to not build a pilot plant. They fed investors the line that it was not required - well over 4 years later and no binding offtakes or finance, they were completely wrong.
Ann: Altech - $14.5 million Underwritten Entitlement Offer, page-175
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