Recycling PFS now targeted for June 24 (previously Q1/24); pilot plant in FY25. Not an unusual slippage for a speculative early stage technical development like this. Not much confidence is being shown in this company by the market, which is understandable given its poor performance to date, but its new direction through the battery recycling technology gives hope. Unfortunately, for investors all they have had to go on for a long time is just that - hopium. The Korean exploration never seems to get anywhere and even their earlier choice of an investment partner by way of Bluebird has been a lemon. Cash on hand at the end of December was $2.5M and although that was enough for 4.8 quarters at the rate of expenditure at the time, progress needs to continue to be restrained without another CR.
ION Price at posting:
0.9¢ Sentiment: None Disclosure: Held
