Ann: Change of Director's Interest Notice, page-59

Hey Viva, no worries on the reply timeline it’s also a long weekend in NZ as we enjoy Queens Birthday weekend.

Restrictions over here eased last Thursday but we are still restricted to 100 people on premise at one time. It does appear the Kiwis have gone nuts on supporting the local hospitality sector with the camper van trains being seen across the country, many accomodation providers and restaurants and cafes reportedly turning customers away in order to abide to the current rules.

Encouraging stuff, looks like Kiwis are making the best of the situation and are once again turning to exploring their own country after years of cheap international travel vanished in weeks. I will add that many over here are itching for the Tasman travel bubble to eventuate. I lived in Queensland for five years in the 90’s but apart from the surf sojourns into NSW I really haven’t explored much of the great continent Australia is.

Like you I have time on my side for this investment, AGY is a fast track company and although many (including myself occasionally) moan about the progress you are realistically looking at 10 years plus in this sector now from exploration to full production. AGY as many know is well ahead of its peers many of which are still in the planning stages of their initial PP.

There been nothing to discredit this company, including management that I’m aware of to effect my investment here, in fact the rise of spod and its hydroxide friend my well be short lived as batteries continue to evolve. Nickel and cobalt’s future in batteries also faces an uncertain future. The only certainty appears to be the role Lithium will play as it continues to be the pivotal piece in the battery Puzzle.

Tesla continues it enormous investment in battery technology and appears to have a substantial lead as it continues to work with Panasonic, and more exciting the recent agreements with CATL.

On to the polices and mandates being implemented particularly throughout Europe. No matter which report you read EV sales in the UK are still strong, despite the sobering ICE figures. All lot of these mandates begin to kick in 2022.

France really has kicked the ICE bucket hard with its 8 billion euro stimulus package to promote green technology, this I believe excludes the 4.8 billion Euro to revive the Auto companies specially to target Renault-Nissan, with to target push to take a much larger stake in the EV Market. Europe appears to have woken up, their 80 billion in electric investments in 2019 eclipsed China’s 12 billion, from memory Europe was 3.3 billion in 2017 opposed to China’ 19 billion.

Certainly paints a robust picture displaying Europe’s aspirations as far as lithium is concerned. They are far more connected in the processes involved from conversion to batteries than the US and this will serve them well in the future.

Finally I couldn’t agree more the for companies like AGY that are much more than a mining company. AGY is a chemical company that extracts its product and refines it to a high grade finished product. Many miss this point and also neglect to engage the Pablo Element, and just as importantly just don’t seem to grasp the large advantage AGY has as far as progression of project is concerned.

When this supposed oversupply of spod story finally disappears into abyss late next year (most people have no idea that lithium arrives in many forms and at many price points) the lithium sector will rise as one, but for those who are able to bypass converters and the tricky middleman, and provide a consistent product directly to tier one battery makers the future should be very bright.

Glass of wine that is now empty. Going for another!

GLTA, and cheers Viva and all the other long termers, you all know you you are.

Have not reviewed so probably full of mistakes, dinner is ready.