Ann: Change of Director's Interest Notice, page-58

Hi Stevo... sorry the delay in replying. It's a long weekend here in WA (WA Day) and I've been chilling.

(BTW - WA going into Phase 3 easing back restrictions next weekend. Pretty much everything will re-open - cinemas, zoo, galleries, and the whole state will be open again too (with exception of remote indigenous locations). We're reducing to 2m/person and venues can have 100, or 300 if they have multiple venues on their site, eg large pubs, performance venues, etc. With the school holidays approaching, I hope that people will be getting out across the state and support the local tourist destinations

But back to your question.... it's one I've been asking myself for over a year now. Sadly, I don't have the definitive answer. However, my thinking for quite some time now re the issue with China/oversupply, was that there was a glut of product requiring processing (in China) but those refineries weren't operating at capacity (due to shutdown maintenance/upgrading) hence it seemed to me the glut was in "raw" product and not in the requirement for quality BG ready product (and most particularly relevant to spodumene - which dominates the local Australian market... so in this country, I don't think people were looking beyond this and understanding the differences with brine)

I can only assume that most investors don't/didn't understand these significant points of difference, both for spod v brine and unrefined v BG final product

(and the conspiracy theorist in me also wonders if those in the know were keeping that info to themselves, and taking positions that would be there financial benefit in near future??)

One of the reasons I've stuck with AGY, is I've got the time to wait it out... and I see they have a valuable point of difference in being able to not only "harvest" Li brine, but to also process it into a high quality final BG grade product. This effectively cuts out a middle man (processor) and adds significant value to the product.

There's no doubt COVID has been devastating for many individuals and countries, but there's also been many unexpected positives (at least for first world countries), families are spending more quality time together, citizens and governments are seeing what it's like to have lower levels of pollution, there's a refocus on what's truely important v what's just nice to have.

Over recent weeks it seems to me that there have been large and signifiant announcements of governments putting place new policies and/or investment in EV's... to put it simply... and to draw on The Castle's Dennis Denuto "It's the vibe"... it seems to me that there's a very positive vibe around the place for the significance that lithium will have moving forward.

I think it was always going to happen... but I think it's just been bought forward a bit earlier then many were thinking?????

Anyway - that's my rambling... seems it was my turn to turn motor mouth!!

Hope everyone is keeping well and enjoying there weekend.