General Discussion AGY, page-23522

The chemistry process, a.k.a Pablo’s special sauce, has failed to achieve operating costs anywhere near the current li price let alone getting it nameplate. This is embarrassing as brine plays are suppose to be on the lower end of the cost curve yet we are nowhere near it. Some spod producers on the other hand are still making money at current prices. What a failure this has become. I wouldn’t say Pablo has “got the chemistry process nailed” until we can hit nameplate with a reasonable opex. So far we are nowhere near it and ran out of money trying.