7News all over the shop with Boston "Battery News" report leaving some holders impression a $2B deal signed. Though personally more disappointed that Chuck Stetson's not involved.
As it stands, market underwhelmed with what turns out to be confirmation of feasibility study delays and more talk of potential suppliers as partners. Study already stalled for a year or so pending funding, with completion now expected around end 2018, though track record suggests could push out further.
Feasibility study was due to start after site selection a year ago:
June 28, 2017- Woodstock Site Selected for Lithium-ion Battery Gigafactory "The project will now move into a feasibility study to initiate the design and engineering phase."
Recall Corey Cooney optimistic of construction start around April 2018 back in July 2017 Bulletin article.
Study still outstanding item in October 5, 2017 Townsville Enterprise Rec. "Magnis announced to the ASX on 21 April 2017 that it is part of a global consortium which has signed an exclusive MoU with Townsville City Council to investigate building a 15GWh Lithium-ion Battery Manufacturing Plant in Townsville. Site selection at Woodstock was then confirmed in announcement on 28 June 2017. The report recommends funding of A$103M for stages 1 and 2 below. Stage 1: Development of a detailed Feasibility Study, detailed design and studies. Stage 2: Delivery of key infrastructure (Roads, Power, Water, Sewer, Telecommunications, etc.)"
Now another MOU signing 'ceremony' 13 months on with Jenny Hill's comment to 7News Townsville:
"we're re-signing an MOU now with Imperium3"
twitter.com/7NewsTownsville/status/1003553110160101377
Stage 2 needs around $100M funding assuming it gets that far.
Wonder if Asian battery giants regard Townsville plant as 'near term', 'fast- tracked' competition?
(20min delay)