tick tock, page-4

Once MNS has certification and so proving up the capacity of the plant to produce batteries that meet all of their stated operating criteria, besides allowing commencement of sales, in my opinion that will also unlock three big doors that they are currently "knocking" on:

- US Government grants and loans that they have applied for (I suspect certification may be the last remaining obstacle);
- New offtake contracts for iM3NY (again certification will allow the various discussions to rapidly move to conclusion); and
- An equity partner to expand iM3NY (it should also firm up the US$1,500m "as is" valuation that HSBC are using for those discussions).

So, roll on the certification announcement - I am expecting that we will then see a good flow of news in the months ahead once that big hurdle is cleared.