For those who closely follow and research the company news on...

For those who closely follow and research the company news on all of social media know this is most definitely not a cash raise.

Sichuan Fulin was finally confirmed a successful bidder to become a recipient of Albemarle’s LC “forced” sales to local companies. It will invest $100m in a cathode plant over 6 years. They have formally asked MSB to be their partner. SF need substantially more LC than their allocation from Albemarle. Bear in mind that POSCO also were successful bidders.

This trading halt is to finalize the deal with Sichuan Fulin re an offtake and stake in MSB and potentially MSB getting a free carry in the cathode plant. I personally suspect that POSCO will, at the very least, look to retain BRZ’s share of MSB’s LC output if not more. What we are looking for here is a sale of a stake in MSB that raises $200m-$225m and covers the full equity amount for project build. Hopefully some debt assistance or guarantees for the other 50% of funding.

MH has stated many times recently that there will be no more cash raised. Any possible increase in % ownership of the project would be settled with equity. My strong suspicion is that all MSB shareholders will be diluted equally.