SYR has money in the bank to build its mine, MNS need to somehow raise $USD 270m with only two Chinese off takes to support it, our Chinese Binding term sheet for finance doesn't seem to be forthcoming at this stage so we are now looking at other options as well as trying to get some Western off takes to try and get a western loan.
MNS basket price seems very high, so risk is its not achievable, though most on here will tell you it is. There is the risk that SYR can swamp the market due to its low cost.
SYR has plans for a coated spherical plant (still to be funded) for battery grade, MNS currently don't have any plans for spherical plant. Macquarie attributed quite a high value in a recent report to SYR plans for spherical.
SYR will likely be in production well before MNS, our timelines have been pushed out due to financing delays.
Just my thoughts though so better add all IMHO and of course DYOR.
Thanks
MNS Price at posting:
56.8¢ Sentiment: None Disclosure: Held
