Let’s just be clear about something, Magnis isn’t currently “building” anything. They’re not in production yet and in fact nor you or I are even sure that the product is commercially viable. We haven’t seen hard evidence of this yet. There’s a reason only 1Gw of the initial stage 1 3Gw is spoken for.
Has the Townsville government backed you? Or have they allocated some land and a small parcel of funding for a feasibility study? They’re a long way from the first stake in the ground.
The timeline for Nachu was pushed from 2016 to who knows when. The timeline for battery production was just moved from mid 2019 to mid-late 2019 (my opinion is mid 2020). Nachu was a $1.6bn asset with multiple offtakes in the works - barely 10% ended up being sold. My point is, how can you take anything seriously at this stage regarding pricing and production given the history here and the fact that we’re at minimum an entire year from having the first battery off the manufacturing line?
I’m not being negative I’m just being factual. I’m just saying pump the brakes a little. Your baseless ramping brings harm to new investors, as well as seasoned investors who are currently underwater and get pulled into sugar high-induced top-ups based on these euphoric posts.
Consider this. They need to arrange;
Financing
Factory construction
Factory fitout
Staffing
Production line engineering
Key component supply chains
To name a few, all in the space of 8-12 months to reach their late 2019 production target. That’s just for NY. Does this seem realistic to you??
MNS Price at posting:
30.0¢ Sentiment: None Disclosure: Not Held
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