I believe they recognized that constantly announcing nothingness was pushing the SP lower, so I commend them for picking up on that and correcting the mistake.
Truthfully, I think the SP is destined for the teens regardless what comes out next. The company has a major credibility issue IMO, with timelines now being blown out by years (in Nachus case), combined with the reluctance to provide the market with clarity in relation to certain deals such as ROSATOM that have seemingly disappeared.
The customer who accounts for the 1GW of initial production is still unnamed (fair enough, commercial in confidence and all that), so how are we to know their reaction to some of the delays being experienced with NY at the moment? Or is NY delayed because the customer is no longer urgently requiring the product? There doesn't seem to be a great push to get this going on Magnis' part. So many questions.... and that's why we drift lower.
MNS Price at posting:
28.0¢ Sentiment: None Disclosure: Not Held
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