The last time I applied for a loan, the 3 basic fundamentals were 1: loan amount 2: security 3: net income. Using this example, Magnis info will be 1: US$150m to pay out existing loan plus $m? to upgrade the equipment/technology, plus a few more million for operating costs and exertion fees 2: $1.2m negative equity 3: income ‘money flowing through the doors’ US$80m in 2022, $360m in 2023 - actual = $0. What about graphite lease In Africa you have owned for 17 years, how much production? = 0, but the local village is much nicer now and local resident director is honourable chief of tribe now. But don’t worry, test results show it’s best graphite in the world and we just have to fund building the infrastructure and operation including a 260km heavy vehicle highway to the port.
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Ann: Magnis Financing Update for IM3NY, page-34
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