IMO, a few things have happened:
- mgmt were struggling (not sure why if the quality of Nachu is what they say it is) to get any binding agreements and/or funding for what was a hugely profitable find
- they started at looking into selling directly to battery manufacturers and stumbled into C4V
- Tanzania govt then threw a spanner then theall of that is distraction as mgmt could not make any progress in Tanzania until the mining commission was up & running
- mgmt thought that they could thread water with C4V while Tanzania sorted itself out (i.e don't focus on the fact that our only asset is locked behind this govt issue, but we have a shiny new technology that is going to change the entire battery industry)
- mgmt either seem to have been sucked in to believe in their own BS, and/or are happy for this distracting the market while they try to get $$ out of Nachu
That last part is my only hope for MNS....hopefully they are working in the background to extracting value out of Nachu.
As an investor you have to be critical of mgmt especially one that has no track record of delivering value for shareholders. The 'eminent' experts are well past their prime, and cannot compete with the like of 100's of engineers & researchers working on battery technology. I don't mean to diminish what Suresh does, but he has a full time job which is not involved with IM3 and you really have to wonder how they can compete with companies that have multi-billion dollar budgets.
Tesla just built a whole new automated assembly line in 3 months in a tent to meet their production deadlines and they pulled off what other car companies take years to do......this is the competition, and a few guys with some research grants is in no way going to compete with these giants.
The only value is Nachu.....mgmt need to get that message loud & clear and get moving on that front.
MNS Price at posting:
37.5¢ Sentiment: Sell Disclosure: Held
(20min delay)