H1 2021: $30M placement to fund 2000tpa plant. Oversubscribed. Plant construction begins EIA report for 10ktpa expansion completed & submitted NOTE: "The Company explored and considered numerous financing and strategic options over the past 18 months for a successful funding solution. However, the Company was unwilling to accept an increased risk profile with debt security provisions (noting the failure of spodumene producers during this period), accept direct project equity dilution, nor handover the Company’s proprietary technology. In addition, no off-take or strategic groups were prepared to invest in product pre-payment arrangements, noting the oversupplied product market."
H2 2021: 2000tpa plant: 53% construction works completed
H1 2022: 2000tpa plant: 90% complete
H2 2022: 2000tpa plant: Commissioning produces 99.76% Li2CO3 product Development works 98% complete Commissioning 90% complete
H1 2023: 2000tpa plant: Commissioning advances to 24-hr continuous operation trials NOTE: Strategic partner process: "The key objective of the strategic partner process was to assess, then select via mutual alignment to secure funding and long-term off-take arrangements for the 10,000tpa expansion operation from a tier-1 counterparty in the EV supply chain. The Company has undertaken a comprehensive and thorough process, including multiple phases (due to significant and increasing interest with varying propositions) during the course of the lithium market uplift over the past 2.5 years, and this process is now nearing finalisation. The Company was not constrained by a set deadline, preferring to achieve a favourable deal for stakeholders and a mutually beneficial partnership, aligned for the long-term sustainability and strategic benefit of the parties. As such, the Company is progressing to finalise the key agreements for such, via an off-take agreement for long-term battery quality lithium carbonate product supply and a finance agreement for the 10,000tpa operation funding."
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The ATH sp was reached in Q1 2023; Feb this year, just over 80c. ....yet some here make absolutely absurd claims like "they chose to go down the 'we'll do it ourselves' route and the market doesn't like that as displayed in todays share price".....
Wow, that's interesting isn't it....?? Was the market "unaware" of this approach 6 months ago..??!! LMAO.... Not to mention other zingers like: "They're trying to reinvent the wheel, which is not working" Just.... FACEPALM.
Beware the wolves!! DYOR!! Which strategy is more sensible - that of anonymous armchair "experts", or that of the Li Brine processing and operations experts..? Simple.
“Out of the pilot plant we produced battery quality lithium carbonate product, sold it to battery cathode customers, and they have paid us battery quality prices.“It shows that the product quality is there.“[The 2000t plant] further de-risks the process for further expansions when we get that operation up and running.“We still must get the product qualified down the track from the big guys, and you can only do that when you are in production, when you have built the facilities. “That’s exactly what we are trying to do.”
IMO DYOR
AGY Price at posting:
31.0¢ Sentiment: Buy Disclosure: Held