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4.2¢ magnis energy technologies ltd

Ann: Magnis Raises A$4m in Placement, page-101

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Bailey241

1,163 Posts.

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15/10/15

06:17

Post #: 16179043
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Originally posted by piggywig ↑

Sure the financing is taking longer than we expected but nothing ever happens exactly as planned. We don't know why there is a delay. You don't just hand over 150M dollars without a lot of paperwork and lawyers involved.

China has just had a week off for festivities which could have slowed things down.

Also there are elections due in Tanzania on October 25, so final negotiations of the SML could be taking longer than normal. Sinoma could be waiting for the final negotiations of the SML to be completed.

Or management could be working on raising our 10% of the funding before Sinoma signs off on their 90%. You can keep speculating about why there is a delay but it doesn't have to be negative.

And just because you've signed agreements for 180K ton/year doesn't mean you shouldn't try and sell more of your product if there is capacity.

There is so much happening we just need to chill out and let management do their job. SYR had a couple of years head start on us but we've caught up to them.

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SML was granted in September, on schedule. We're just waiting on finalisation of finance and then it's all steams ahead

MNS Price at posting: 40.5¢ Sentiment: Buy Disclosure: Held
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