Ann: US$5M Strategic Investment by ATL, page-172

Likewise, I agree with your perspective. IMO, AGY's future success largely hinges on the future spot price. However, ATL's investment is definitely a step in the right direction. While it's a positive announcement, it's not the one many were hoping for, and there are still significant challenges ahead. Among the Chinese companies that could have invested in AGY, ATL stands out as one of the best options, especially given their reputation as suppliers for Apple and Samsung.

Regarding the type of battery that requires a higher quality lithium product, it's possible that batteries for Apple/Samsung mobile phones and laptops may demand higher quality than those for EVs. This could mean AGY might secure better pricing in that market if they successfully qualify their product. Although ATL might not be interested in the large volumes AGY can eventually produce, the higher prices for lower volumes could compensate, similar to Arcadium's recent premium for lithium specialty products (US$73k per tonne vs US$20k for carbonate).

If AGY can get their plant operational and secure a partial offtake agreement with ATL, it would be a significant step forward, potentially leading to short-term profitability. However, I'd still like to see an offtake agreement with a party in the EV supply chain and a viable plan to fund Stage 3.