Ann: National Australia Bank Engaged for Townsville Project, page-102

MNS has been a spec mining stock for years. Never making money, lurching from dream to dream. And that is fine. It's what they do. High risk and high return (if it ever happens). More like a lottery ticket than a company. But to try to turn it into a tech battery manufacturer is just carzy (imo).
It is structured the wrong way around. That type of manufacturing is high risk low return. You start with private venture capital, then build a small successful startup, then sell shares and list it. You don't start with an existing listed company with no money a long tail of shares (600 million?) all the shareholders investment spent already. Why would anyone bother financing MNS etc when they can just start a new fresh company?