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28/02/19

16:34

Post #: 37607287
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Originally posted by Wal76 ↑

Just put my order in for $5k worth thinking that I would sell $5k of existing AJM stock, claim the loss and have the same net position. I worked onsite through the construction phase and bought in when I first arrived on site at $0.135 (subsequently bought more over the next 18 months and am holding a substantial paper loss). I find it hard to believe that Altura are now in production and appear to have made substantial progress ironing out initial problems which are very common place in the commissioning phase, and are the equivalent $ of when I first arrived on site with only a flat pad.
I think the appointment of Primero was a fundamental step in the right direction, through out the construction phase the comments from the floor were that the build was on the cheap side. The obvious problem with building a cheap mine is that you get a cheap mine. Recent events (IMO) have shifted mentality from being able to achieve plant mods in-house to getting the guns in, I think this has been confirmed by the uptick in production.
Lithium processing is complex and with the increase in plants in the west the number of employees that can be classified as lithium 'experts' would be relatively thin on the ground. It will take time to build a good team.
First time in a long time that I have felt a positive sentiment towards AJM (and nice to see a little green in the portfolio). I am now thinking of holding onto all my shares and looking at others in my portfolio to offload. I am not sure if I am suffering confirmation bias but I am a believer in the lithium story and wish all long holders the best of luck.
Wal

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Hi Wal76,

Nice to hear from someone who has worked on the AJM site.

I think AJM built the mine 'on the cheap side' as you mentioned because their initial plan was to get a good TO offer and pass it on.

A bit like doing the minimum to your car in order to sell it.

That did not work out, so they had to do the $30M CR to get the plant right and now it's full steam ahead. I'm happy they did not get the TO they wanted. Lithium sport price is cruizing up and things are looking good.

Happy to hold for a while

AJM Price at posting: 16.0¢ Sentiment: Buy Disclosure: Held
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SPP Offer, page-110

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