This is a significant development. What is the value of iM3NY,...

This is a significant development. What is the value of iM3NY, if it was to be listed? MNS owns 61%.

Appreciate if someone can shed some light here.

Below is my two cents worth.

On a comparable valuation basis, does it make sense to compare with FREYR Battery NYSE:FREY ? They are building a 38GWh giga factory in Norway to produce next-generation clean LFP Li-Ion battery cells. They executed Li-Ion Battery Binding Cell Sales Agreement and Entry into Module & Pack Joint Venture for Energy Storage Solutions with Nidec Corporation (Japan). Broad partnership with Nidec includes a firm sales contract to supply 38 GWh of next-generation clean LFP Li-Ion battery cells from 2025 - 2030 combined with a Joint Venture Agreement to develop, manufacture, and sell integrated, low carbon ESS solutions to industrial and utility grade customers.

https://ir.freyrbattery.com/events-and-presentations/presentations/default.aspx

https://www.businesswire.com/news/home/20220829005777/en/FREYR-Battery-Announces-the-Execution-of-38-GWh-Li-Ion-Battery-Binding-Cell-Sales-Agreement-and-Entry-into-Module-Pack-Joint-Venture-for-Energy-Storage-Solutions-with-Nidec-Corporation

FREY has a MC of USD1.29bn.


Based in the USA, can we at least value iM3NY at USD1bn?

Then MNS own 61% = USD610m x 1.49 = AUD908m/970m (SOI, excluding unlisted options) = c93 AUD per share value to MNS shareholders. Since we are listed here on ASX may be we have to apply a discount.

Does this make sense? Any thoughts?