"1. Am I correct in assuming the plant won't be ready for production for at least another 24 months? From my brief reading, the loan is paid in tranches, one ($30m) in 50 days and one 12 months from that date. The second payment, which is almost half the loan amount, will then need to be applied to the project. Are we looking at another 6? 12? months from that point before production is actually ready?"
Lol, you have assumed wrong anf0. Read the announcement again but in detail this time. Below is the answer to your question:
Current schedule aims to havebattery production starting within 12 months of funding closure with offtake contracts in place for themajority of the first 3 years of planned production.
The US$22M gets them to 1GWh of production as per my previous post.
However you value the Alevo plant the end result is that IM3/Magnis/C4V will have a 1+GWh plant in production for a total cost of approx US$59M. Much cheaper than others who are costing it out at US$250M
Looks like the market liked the announcement today. Up 18%
MNS Price at posting:
29.5¢ Sentiment: Buy Disclosure: Held
(20min delay)
