General Discussion AGY, page-22170

I trust that JZ has a non dilutive funding plan which will represent good value for shareholders and will be signed as soon as the permit is granted as much as I trust there are 31 quarters of funding in the kitty, as much as I trust that the permit was going to be granted two years ago as JZ’s guidance suggested, several times this year, and also last quarter. I trust that carrot every bit as much as all the other carrots they’ve danged in front of the shareholders over the last several years. I see you trust it more than I do, I didn’t realise, and I’m sorry for being presumptuous (I realise that may sound facetious but I do mean it).

In terms of their demonstrated ability to produce lithium carbonate from their brine, that is, a demonstrated increase in their capability in terms of the technology or technical know how, what have they actually shown us? They literally just built a larger version of the plant which can objectively be called a failure (it literally failed to achieve its stated goals) which literally functions no better than a scaled up version of the pilot plant. Where is the actual demonstrated improvement? They might have learned something behind the scenes and I hope they have, but there is literally nothing to actually substantiate that. No doubt with sufficient funds they could build another plant scaled up again, but at this stage we literally have zero *evidence* that they would be capable of getting it to be any more productive than a scaled up version of the last two which are as ineffective as each other.