Ann: Rincon Lithium Project Update, page-63

AGY's rapid progression continues as this week will see lithium brine concentrate processing from stage 1 pilot plant begin this week. Looks like some are disappointed that it is just beginning and will have a small wait till we get the actual end product. AGY has moved very rapidly through it pathway and with processing starting this week the wait will not be long till Pablo fine tunes his process to get a consistent end product which we hear today has a number of very interested parties from China, Japan and Korea waiting for samples. Of most importance will be tweaking and getting this process right and giving these battery participants a quality end product which they will be waiting for and you would imagine will lead to some major off-take and partnership agreements with some major players.

The fast track approach that AGY has taken sees them in a position that few find themselves in with major players awaiting samples ready to move on AGY future production firstly on stage 2 where additional ponds works have already commenced. The importance on the first concentrate is not to be underestimated as the samples that AGY will give to these battery players will surely unlock funding for stage 3 and a major move for AGY to a major player in the industry. The AGY approach has not convinced all but it has the company in a position well ahead of the pack with the coming months seeing some major milestones with stage 1 concentrated processing and PEA works in full swing plus stage 2 pond works ramping up.