Magnis was mentioned last Friday as one to look out for in the lithium battery area. 

Today they have announced further progress with their New York plant set up and are progressing their US listing. Looking very undervalued compared to similar battery manufacturers in the US with valuations around the USD10 billion mark.

• New York Plant Status – 23% complete

• Internal Building clear-out completed with internal works having started

• Machinery roll-out to start in September

• Public review of Air Permit has had no objections so far and on track to be granted in the near term

• Lukasz P. Cianciara joins iM3NY to focus on US listing

• Safety - Zero incidents to date in August

Price target of $2 

Almost $1b in forward orders, market cap under $400m

Mega battery plant to be up and running in New York early next year and a US listing sometime this year likely to be a huge catalyst for the stock and looking very cheap with a market cap of less than $400m currently.

John Hancock, Gina Rineharts son has taken a position in the company. He also recently invested in VUL at $0.40 and that is currently trading at over $15, the best performing stock on the ASX this year. 

Risks of course would be a delay in getting the manufacturing facility up and running. 

Huge potential and lots of catalysts coming up including more forward order commitments. 

https://www.afr.com/street-talk/john-hancock-s-electric-dreams-drive-to-magnis-energy-20210801-p58esr