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4.2¢ magnis energy technologies ltd

wont get US Govt loan - i understood it had to be 100% local...

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10/04/24

08:36

Post #: 73268955
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Originally posted by emugrasshopper: ↑

https://www.bupipedream.com/news/local-battery-manufacturing-organization-requests-loan/135333/

my understanding is the present factory is only sizeable max 1.5gw, which is not scalable to interest the big Chinese company. im3ny wants a new purpose built factory 12 times the size, so if the current factory is 3 football fields in size, they require a factory the size of 36 football fields. IM3 require to contribute $500m on top of a $700m loan from US gov.

if Magnis is looking to sell Chinese batteries, they don’t need this ny factory at $3m pa rent. They could arrange shipment direct from supplier to buyer, maybe earn a sales commission - but seems contrary to Magnis pleading to the ASX that they are a mining resources company first and foremost.
happy to be corrected if my assumptions are wrong.

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wont get US Govt loan - i understood it had to be 100% local company/product to get that loan - not chinese or chinese associated product

MNS Price at posting: 4.2¢ Sentiment: None Disclosure: Held
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