Ann: Argosy signs binding agreement for US Lithium Project, page-118

Very interesting deal.

Two key questions:

1. If it's such a great resource why are Li3 selling?
2. Is Puna Mining buying it - or is AGY?

Why are Li3 selling?
Judging by the Li3 Announcement, they have decided to go all in on hard rock - maybe they've concluded brine is too hard (unless you have a Lithium Brine brewmaster on staff - really hard to make it work). That could be it.

Puna mining or AGY?
This is interesting, because at the moment AGY in it's own right owns a significant interest in Puna Mining - 77.5% but not 100% and the maximum AGY will ever own (that's us) of Puna Mining will be 90%. But, given the importance of Pablo & Son to make the process work - Jerko & Pablo will meet somewhere, crack open a nice vintage, eat some great chow and... they'll shake on something. Don't sweat the details - it'll be a happening thing.

So, if AGY pull this off (as in, Due Diligence ticks the box, and we JORC-up 1 million tonnes) we then have a Lithium company that has..
RINCON - 208,000 tonnes (which, to be fair, given our market cap - wasn't a skirt blower, more like a puff of hot breath)
TONOPAH - 1,000,000 tonnes - yee hah
TOTAL 1.2 million tonnes

PROCESS + 1.2 million tonnes = Hell Yeah! that's a Lithium Company.

Mitsubishi vs Tesla vs US mainland auto companies - if they can't find a committed buyer (Off Take) from that combo....

Now, the other interesting thing to overlay is...

1. Recent political events in Argentina - will the nationlist/socialists get back in?
2. USA is backing lithium ("Lithium included in the USA’s list of ‘critical minerals’ and actions are being prepared to further support US lithium domestic resource development")

Not there yet!
But, hell ...Chess pieces are moving on the board.

Unless I've missed something.


IMO
DYOR