So they burnt through about $44m in the last quarter (as a reference WKT built a graphite mine and a processing plant with that money).
Battery is in production (shown in a picture with about 70 battery packs, there might be more somewhere but no inventory provided). It's highly unlikely that they are at steady state production of 15,000 cells per day. So the money was spent on other things in the last quarter.
Battery was sent out for "commercial field trial": I'd like to know more about it. Is it for customers feedback, performance statistics,.. for back to the board test, redesigns,.. before it can be sold on commercial quantity?
Nachu has no progress on mining or planning for mining.
AAMM: interesting one. Intent to sign up for the site, Worley got the FEED contract. Google tells me that FEED (Front End Engineering Design) means Basic Engineering which is conducted after completion of Conceptual Design or Feasibility Study. At this stage, before start of EPC (Engineering, Procurement and Construction), various studies take place to figure out technical issues and estimate rough investment cost. So the production by Feb 2024 is highly unlikely.
I think it's my fair assessment of today announcement.
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