Almost; but not.
A swing and a miss.
What were they "obviously" "hiding" in those (15?) missing months without progress updates, I wonder?!?!?--
BTW, your "qtrly reporting" example from June 2015 is great but it came AFTER they had already shipped product to multiple customers, and after they had already begun ramping-up production operations. We are certainly NOT there yet.
WHEN we get there, and you still don't get the "detail" and "transparency" that you apparently expect/want from an AGY qtrly report, then you have limited options....
eg.
1/ accept what is disclosed and seek clarification where possible
2/ shout about how useless the company is on an anonymous internet forum
3/ contact the company and use your expert knowledge and extensive experience to educate them on what and how they "should be" reporting, to improve the long-term prospects of the business
Somehow I don't think (3) will even be attempted, by I'm sure (2) will be second nature to you and several others!
Please prove me wrong though, and please let me join the zoom meeting with Jerko, Pablo and the AGY board, just to listen in?! C'mon, it'll be fun.
--
Oh, and my point stands about the more recent Naraha plant being largely devoid of any detailed updates, by the SAME COMPANY, btw, where the market was basically just told the following wrt progress and commissioning delays:
June 2020 qtrly:
"
Site operations have continued throughout the period, however equipment deliveries from overseas are expected to be delayed due to COVID-19 which is currently projected to delay final project completion by approximately two months."
Sep 2020 qtrly:
"
Naraha Lithium Hydroxide Plant construction has continued throughout the period. However, delayed equipment deliveries from overseas will result in commissioning commencing in H2 CY21. Construction has achieved >80% completion"
Dec 2020 qtrly:
"
Site operations have continued throughout the period with construction now approximately 89% complete, and commissioning expected in H2 CY21."Mar 2021 qtrly:
"
Site operations have continued throughout the period with construction now approximately 94% complete. Commissioning will be delayed until Q1 CY22 due to COVID-19 related delays of travel to site by Veolia’s international commissioning engineers and technicians."June 2021 qtrly:
"Naraha site operations have continued throughout the period with construction now mostly complete and precommissioning works underway. Commissioning will be delayed until Q1 CY22 due to COVID-19 related delays of travel to site by Veolia’s international commissioning engineers and technicians"Sep 2021 qtrly:
"Site training and limited operations have continued throughout the period with construction now virtually complete and pre-commissioning works underway. Commissioning is anticipated to occur during Q1 CY22."Nov 2021 AGM:
"Construction of the 10ktpa plant is largely complete
Wet testing of key components is underway
International technical support has arrived at site after being delayed by COVID-19 travel restrictions
Site training and pre-commissioning works have commenced
Commissioning is expected to commence in Q1 CY22"Dec 2021 qtrly:
"Construction of the Naraha lithium hydroxide plant in Japan is largely complete, with precommissioning works well underway. Commissioning activities continue to be influenced by the availability of international equipment commissioning experts given COVID-19 related border closures
in Japan however completion is still expected in H1 2022."Mar 2022 qtrly:
"Construction of the Naraha lithium hydroxide plant in Japan is complete, with pre-commissioning works well underway. Following an earthquake on March 16, testing and inspection of the plant continues, however commissioning activities will continue during Q2 CY22 with first production
expected in Q3 CY22."June 2022 qtrly:
"Construction of the Naraha lithium hydroxide plant in Japan is complete and commissioning activities continue. Water testing has already been completed, as preparation for plant start up is underway.First production is expected late September with minor delays being experienced due to travel and visa restrictions for commissioning personnel, and extended testing following the previously reported earthquake damage from March 16."Sep 2022 qtrly:
"Construction of the Naraha lithium hydroxide plant in Japan is complete and commissioning activities continue. Kiln heating and commissioning has commenced and technical grade lithium carbonate from Olaroz has been introduced to the main process area. First production of lithium hydroxide
remains on track for the December quarter."Nov 2022:
"..pleased to advise that the Naraha Lithium Hydroxide plant in Japan has produced its first lithium hydroxide chemical product."----
Q's:
So, which is it, are regular (eg. monthly) and detailed updates actually "normal" in this industry, and commonplace, or not? The above are NOT detailed, not by any stretch of the imagination, with virtually nothing mentioned outside of compelled qtrly reporting.
Why would ORE/AKE simply throw away their "special regular updates" approach, like they clearly did..?
Aren't investors interested in the detail of the work, the progress, the issues, the delays??? Where's the "detail"; where's the "transparency"...????? Where are all the outraged shareholders shouting "we expect more transparency, this is not good enough!!"
A: No, the so-called "transparency" and detail that some posters here apparently "expect" from AGY wrt the Rincon project is NOT "normal", and NOT commonplace,
in my experience. Not by a long shot. If they were, there would be umpteen current examples from many companies that are currently developing (or have recently developed) projects. Where are ALL of those examples...?? They would be readily available from basically
any developer's announcements list. Simple as that.
IMO, it beggars belief that we are essentially (apparently) at this point now with some punters:
"
Show me the specifics and detailed objectives and progressive outcomes of your commissioning sub-programs!!!! I expect it!!; I demand it!!"
"
How do you expect me - or anyone - to invest here otherwise; stop hiding the facts!!??"
ROFLMAO!!!
Are they genuine, or just emotionally worn out into a sad mess of nonsensical frustration? Or just latching on for some tactical bashing in their quest for pips..? The mind boggles!
We are sadly a long long way from the old "AGY fundamentals" thread!
DYOR!!
ps. "AGY provide updates that are ... ... likely designed to distract from the lack of notable progress"
You clearly DESPISE and do NOT trust this company, it would seem.
Is that accurate?
WHY on earth would you persist when there are literally thousands of others out there??
Anyone who holds AGY, and
EVEN IF they
also hold say another 20 ASX stocks, inherently must (?) believe that AGY is in the top 1% of all opportunities on the ASX.
Simple.
Geez, the other 2000-odd, that they don't hold, must be sh!t then, if some of the chatter around here is genuine!?!?!
pps.
Have you contacted the company yet to clarify your supposed concern about the purity of latest production, and perhaps
more importantly, the supposed deceptive behaviour of company officers to supposedly deliberately conceal this supposedly concerning information as they supposedly try to distract from the supposed lack of notable progress...?
What did they say?
ppps. Remember, Rob, I'm not trying to change
your mind about anything; I realise that is likely impossible!
GLAGenuineInvestors!!
IMO
DYOR
Focus!
We're in the eye of the sh!tstorm!!
and beware of pirates! aaarrrggghhh
(20min delay)
