MNS 0.00% 4.2¢ magnis energy technologies ltd

Ann: Suspension and Transaction Update, page-193

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  1. 5,878 Posts.
    lightbulb Created with Sketch. 534
    The Aussie article is out. The situation is summarised as below:

    - 90k left (but should be all gone by now)
    - $5m or so debt with as high as 54% a year
    - a "factory" or "lab" that needs $60m to make it work (according to madness)
    - a factory or lab that needs money to acquire the $100m debt (even though the lender may take it haircut, but still in millions)
    - a graphite field with "village" that failed to get funded (PEY)
    - it tried to dump the lab and fund mine field so to be re-listed. Now the mine failed to get funded, then it back to fix the lab.

    Shareholders are no longer stupid on this mob, need to see the whole situation, not just the hype.
 
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