Ann: Half Yearly Report and Accounts, page-6

Nachu
In recent weeks senior Magnis representatives have been in discussion with a global engineering groupregarding Engineering, Procurement, Construction and Finance for Nachu. Discussions to date have beenvery encouraging with information remaining commercial in confidence.

NY IM3
The iMNY3 team are actively assessing potentialfinancing arrangements and investmentopportunities to allow production to commencethis year.

Townsville
Planning meetings with the main study participants have been held to map out the FS process and toestablish project systems and schedule future work programs.
The Assistance Agreement defines three distinct payment milestones associated with the staged deliveryof components of the FS and supporting information with the aim to have the Feasibility work fullycompleted in 2019.

No mention of Germany, Middle East, India battery factories, Turkish partner, Supercar

So the only thing that has happened since AGM has been 'encouraging discussions' on Nachu and 'planning meetings...to...schedule future work'

As someone said, 6 employees and 6 directors (and note IM3 is separate so not MNS employees) and they are still paying consultancy fees to connected staff........you have to wonder what are they doing (I'm still scratching my head over hiring a director connected to the electricity industry in Aus.....what is going to be his contribution?). Biggest expense last 6 months was legal & consulting fees & then a further 500k per month in admin fees (over and above directors fees & staff salaries)?!?

Interesting that the 10% stake in C4V is worth 10m (so Upreti in his research lab in Birmingham university is valued at 100m!, while the NY battery factory stake of 47% is valued at 5m......so the entire battery factory is valued at ~10m). Again scratching my head as to why building multiple battery factories when clearly (even in MNS' eyes, the value is in the IP).

The real kicker in the teeth as a shareholder....under going concern
The Group’s expenditure forecast over the next 12 months totals$5,572,166. In order to fully implement its multi strategy, the Group will require additional funds.

I'd say they run out of funds in 3Q so they will have to do another capital raising in Jul/Aug.

price in the teens looks highly likely