Market cap .... $46 mill
Cash at end Q. $33 mill
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They've spent the cash, got something to show, but are they ready, and will they find the customers? Timeline looks extended.
OUTLOOK
In 2024 our focus will be on completing the commissioning of our Phase 3 facility and building up our cell testing capabilities to ensure that we are in a position to produce data sheets and test cells for a range of partners and prospective customers. It has become clear that the largest near-term opportunity is in the drone and eAviation markets, but there are also significant opportunities we are exploring in the heavy vehicles and defence sectors.
As we approach completion of our Phase 3 facility we are also turning our attention to the longer term. We have developed plans for a 200MWh facility in the coming years, that will be able to produce commercial quantities of batteries for the first time and generate significant revenue. This is a significant standalone project that is not tied to the location of our Phase 3 facilities in Geelong and we anticipate leveraging support from Governments and partners as we progress our plans further. Into the long-term we continue to anticipate lithium sulfur gigafactories on the horizon. However, it is increasingly evident that capacity increase is best served by technology licensing since we believe that re-tooling of existing facilities is more viable than a greenfield new build.