I think you need to take another look at Magnis’ pre-production capital expenditure requirements. “just a couple of $10-$30 million sniffs” is not going to cut it.
The market hasn’t responded particularly well to Magnis’ securing a ‘cornerstone investor’. With now +600m SOI the potential EPS continue to diminish.
MNS Price at posting:
35.5¢ Sentiment: None Disclosure: Not Held