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4.2¢ magnis energy technologies ltd

Cheers for the update Joey. I too was in meetings most of the...

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Matt D

985 Posts.

91

12/10/21

18:17

Post #: 56746790
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Originally posted by joeycloud ↑

I listened in and nothing new. He mostly talked through the corporate presentation that was released on ASX last week. Dr Jawahat Nerkar was on the call too and answered questions about battery compliance / certification for overseas markets.

He did address the media concerns by explaining that IM3 leadership have directly/privately been shown aspects of Sukh Energy to be confident they have the capital backing to pay for their battery order.

Also fp did mention that Townsville and EV qualification process will take a bit more time so we shouldn't be expecting any new major offtake partners until full production after Q3 2022. Chicken and egg problem I think.

He sounded confident about Nachu but said further finding would be needed to ramp up to production for that mine again, so a CR may be in order in the near future. He did say they're close to an offtake agreement but will be announced in due time.

I wouldn't say it's changed anything. Though he did say to keep an eye out on IM3 plant progress update in the coming fortnight.

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Cheers for the update Joey.
I too was in meetings most of the day and will try and find it tonight.
Very comfortable with my investment and looking forward to a progress update...

MNS Price at posting: 31.0¢ Sentiment: Buy Disclosure: Held
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