Agree - is a good presentation.They have thought through all of...

Agree - is a good presentation.

They have thought through all of the issues for iM3NY quite well. There is a clear plan and forward strategy and one that would be well received when taking this to a listing.

The intriguing aspect was how they talked about iM3NY expanding in the US and globally. It gave me a sense that they may be looking to draw in the other global projects (TVL, etc) under iM3NY - that would be a good thing as it gives quite a "scale" element to an eventual float.

My other takeaway was the $800m to $1bn requirement to take this to 11GWh by 2026. I suspect that the amount of cash they will be looking from the float will be circa $500m to at least get to 5GWh by 2024 and possibly provide additional capital to progress the other growth options. Hence presenting IM3NY to its best possible growth upside will be critical to extracting the maximum valuation at listing to ensure that the capital raised does not unduly dilute existing shareholders (including MNS). No doubt there is much work being done by the Board and their advisers on this at the moment.