Pricing AGY, page-325

Technically speaking, in their 01/02/2021 Company Presentation, AGY advised the market on the very first page that construction was "underway".

In the 08/02/2021 $30m Placement ANN, they highlighted that they'd already been arranging site infrastructure, scheduling site work contractors and procuring plant equipment and chemical reagents (personally I think this is what the 20T Korean sales revenue enabled them to start progressing on prior to the $30m CR).

So in reality, AGY have been working prior to the $30 CR to get the construction rolling, so I'm expecting this to get off the ground quicker then most might expect.... I won't be surprise if it's a quick turn around to see an ANN with a photo op marking commencement of actual earthworks/construction.

(Especially bearing in mind that PA already has a working relationship with the earthworks contractors who built the ponds and other infrastructure works already on site.)