I think it's combination of Magnis already having binding offtake agreements with Sinosteel and Sinoma, as well as signing an MoU with the CRCC for an EPC contract that many now count as all being worthless. Secondly, all the talk from management has been about focussing on Western household names for new offtake agreemnts, so if it's back to the Chinese again, there would be scepticism of its worth, coupled with a wtf re management chasing Western offtakes and not having, as yet, landed them.
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I think it's combination of Magnis already having binding...
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