The fact still remains
@Pharvest that they promised shareholders 30GW by 2021. 15GW in NY, 15GW in Townsville. And yeah the NY plant should have been up and running for over two years by now. They can cleverly sign off takes for their graphite knowing full well they have nonfuture plans to mine it themselves.
Now they have supposedly pulled their head in and said 1.8GW semi automated by end of 2021 yet the plant hasn't even been designed. And by all accounts it isn't as simple as building say a big goat shed.. There will be robotics involved all sorts of chemical and lab areas, safety considerations of harmful chemicals, the list goes on.
Regardless of their battery tech, there are gigafactories popping up all over the world so magnis will be entering in a competitive environment.
Their intellectual property, not even owned by magnis themselves (c4v's) is the only saving grace. If it wasn't for this why would anyone bother investing.
im3ny does well to palm any financial debt onto magnis and as far as factory progress, no updates.
The NY plant is currently under budget. In reality it's only under budget because they haven't spent any money doing anything useful! They are still waiting for the design to be done, until that happens then shareholders will linger along hoping for the factory to be up in running in less than 4 months from now.
Im3ny better get this US listing sorted asap before the next update! No doubt itl come with more promises of upgrades and the future.
But hey it's scientifically proven that you can polish a turd as some are doing here.
(20min delay)