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The latest announcement is out from Magnis Energy Technologies Limited ( (AU:RYZ) ).
Ryzon Materials Ltd, formerly known as Magnis Energy Technologies Limited, has made significant strides in its Nachu Graphite Project by entering into an expanded engineering agreement with Xinhai subsidiary, Yantai Xinhai Mining Research & Design Co., Ltd. The company is focusing on detailed engineering and early works, including an updated Environmental Impact Study and initial earthworks. Additionally, Ryzon is progressing in securing funding, with Xinhai agreeing to fund detailed engineering via equity and discussions advancing with potential investors. The company is also exploring the development of an active anode materials plant, with interest from Middle Eastern and Asian investors, and potential customers seeking non-Chinese anode materials.
More about Magnis Energy Technologies Limited
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$50.38M
For a thorough assessment of RYZ stock, go to TipRanks’ Stock Analysis page.