Thanks for the update. Extremely positive as I expected and...

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Kn_ght

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24/11/22

14:03

Post #: 64966184
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Originally posted by jdpc35: ↑

My takeaways from today:

No issues with raw materials for battery plant. They have Li supply well covered.
Very strong battery demand from a variety of US parties driven by the Inflation Reduction Act (IRA) and its requirements for parties to be sourcing "made in America" batteries and components. FP mentioned that there were 3 potential customers onsite at iM3NY when he was there last week.
Tier1 motor vehicle parties (eg GM, Ford, Tesla) are largely tied up with proprietary deals with the battery majors - but this leaves quite a large number of others who needing a "made in America" battery solution (eg Rivian, stationary energy players, etc) due to the IRA.
iM3NY has been building a stockpile of manufactured cells and they are very close to achieving certification of their cells - next few weeks mentioned as the expected timeline for certification. This will allow those batteries to be shipped and thereafter iM3NY reverts to standard BAU of manufacture and ship.
Whilst not mentioned, one gets the impression that the forthcoming Jobs Days at iM3NY is in anticipation of certification and the need to start ramping very quickly from here (but with the generated cashflows to support a much larger workforce).
Intention is to very quickly ramp iM3NY to double digit GWh production - this was emphasised on a few occasions by FP. Many well advanced irons in fire to raise debt (US Dept Energy loans program), matched grant funding (US DoE again) and other funding.
You get the impression of "watch this space" in relation to iM3NY in that we could see a good flow of material announcements over the next couple of months.
Nachu is in final stages of appointing a financial adviser and also in discussions with export credit agencies - seeking to wrap up a funding solution in 1st half of 2023.
They are working with a potential offtake customer on the battery anode plant. Was mentioned that the majors are not interested in graphite, but rather want an anode solution. Hence the focus here.
The 6min & 10min charging results (currently being run by C4V) should be announced before the end of the year.

GLTA & DYOR

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Thanks for the update. Extremely positive as I expected and tracking well.

Cheers

K
MNS Price at posting: 36.5¢ Sentiment: Buy Disclosure: Held
14 Upvote

0 Great analysis

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