I believe there’s a good chance Phillips 66 are due to increase their holding - possibly investing $200m.
Novonix will struggle for cashflow in 12 months so a CR will be likely, the risk for PSX is heavily reduced since their initial $150m investment a few years back & profits will be huge in 2028.
They’ve recently stated they intend to increase investment in their midstream business.
Nick would’ve been the first to go as I’m sure they’d prefer their own choice of CFO.
It would also help secure the DOE loan.
I could be miles off but nothing surprises me anymore, most of the previous execs have exited with loaded pockets so it’s definitely a possibility, there is absolutely no loyalty to their retail investors.
We’re merely collateral damage.
Media Watch - NVX related, page-14124
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