General Comments & Banter, page-13200

Ok - so we have established we didn't need the 6 to 12 months qualification process and still be able to produce tech grade for the market and generate revenue from it. ORE hasn't done the qualification but are selling thousands of tons of tech grade LiCo. They are now going to start doing the 6 month qualification and in the mean time they further refine their BG production process. Sounds like a very smart move to do tech grade and have revenue first before promising the world . But that's just my thoughts.

Secondly - what is this constant talk about establishing long term end customer relationship? Did we need to do the 6 to 12 months BG qualifiation process to establish a relationship with the end user for someone to buy Agy's LiCo3? SQM , Livent and ORE are just producing whatever grade they have the capability to do and selling it to the market. Yes some will customers will buy more from you and some will buy less - but at the end of the day Agy is only talking about another extra 10,000T production - is the demand so scarce that the market is not buying the extra 10kt Agy produces?