Originally posted by Riskon22
I wasn’t able to attend this year but have heard extremely good things from those who did. This was posted on another forum by someone who seems quite well connected. It is in line with what others also heard and took away:
Was a great AGM actually, probably a few less people than last year but overall, the mood was good.....even better was catching up with some of the team in the evening for dinner/drinks.... some points below.. was not taking notes
- MNS name change will happen but the code remains the same
- Turkey and Austria both mentioned and could be the next piece of news we here
- Townsville FS well under way with Frank H taking care of that - should be ready H1 2019
- Any future factories announced will have some form of funding (government) that comes with it
- Nachu funding seems very close... either a JV or a few other options... seems there are some options on the table
- Was confirmed for NY... there will be no FS...lol... already knew that as we have the equipment and the site.. about 50m USD to get it all setup and confirmed 1GWH already sold with more to come.. so options here also and strong interest from groups to fund the full 15 gwh.....
- All the board members I chatted with... FP/FH/Vogts/Bez are 1000000% excited with what will come over the next few weeks/ months/ years
- Warwick Smith seemed very excited to have joined the board, and confirmed AL Capital’s long term commitment with MNS/MET
- Travis did a wonderful presentation also, went for a good 20 minutes...
about all i can recall....
Summary AGM:- Summary
Some items may already be highlighted. Items are publicinformation as expressed at AGM
Factories – Being designed so as versionschange they will be able to be easily adapted without incurring huge capitalcosts to change production variant.
NY – Relocation done – Equipmentbeing re-designed to achieve much higher yield which will feed into less wasteand higher margins. Prodn mid to late 2019. Working capital $50m USD. A numberof parties are looking at NY – Lot interest. $$ will not come from MNS. Is likely to be injection of funds inexchange for portion of the project. Experienced people coming onboard. All initial production 1 GW is pre-sold whichassists with financing. MNS done itswork – Funding sits with other parties in the consortium.
Townsville – Grant obtained, GovtResources ppl etc committed. Kick off meetings have commenced. Scoping study iscurrently +/- 25%... Feasability studywill refine this to + / - 10% which is required to make project investable.
Listrom – Government Rhine –Still moving forward but not as quickly as we would have initially liked.
Other battery sites are comingbut these will all come with a level of financing attached (Gvt or Partner),
Things to be delivered in theshort term:-
Other battery locations
NY Financing – with otherconsortium members.
Nachu Financing – with otherconsortium members.
(20min delay)