Magnis Energy Technologies Limited (AU:MNS) has released an update.
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Magnis Energy Technologies Ltd is advancing its Nachu Graphite Project with Singapore-based PEY Capital working to secure US$320 million in funding, which would enable the construction of the graphite concentrate production facility; however, there is no certainty the financing will be successful. Meanwhile, the company is also seeking to refinance the debt of its subsidiary Imperium3 New York through PriceWaterhouseCoopers, attracting interest from several institutional investors and working towards revising its business plan to transform the battery plant into a cash-generating asset.
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