Magnis Energy Advances Negotiations and Refinancing Efforts

Magnis Energy Technologies Limited (AU:MNS) has released an update.

Magnis Energy Technologies Limited reported ongoing negotiations for funding and off-take agreements for its Nachu Graphite Project, despite terminating its formal appointment with Singapore-based PEY Capital. The company is also actively working on refinancing the secured debt of its majority-owned battery plant, iM3NY LLC, in New York, but the plant did not generate any revenue in the last quarter. Additionally, Magnis announced board changes and remains suspended from the ASX due to compliance issues, as it works to meet continuous disclosure obligations.

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