Magnus’ binding offtake with Tesla was contingent upon them selecting and building a US-based pilot plant and producing Active Anode Materials by June 2024. It was a hugely tight series of conditions/timelines that were never going to be met (and I said as much at the time on Twitter, to the chagrin of the MNS pumpers).
Whilst we don’t know what Glencore’s conditions are, I think MNS/TSLA is a lazy comparison.
Ann: Galan Secures Glencore Agreement For Offtake & Financing, page-305
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