This is the reason they're only supplying 100t+ of BG LCE to Mitsubishi. The pilot plant is really a test facility for refining their lithium extraction process in a real world environment. They haven't signed an exclusive agreement with Mitsubishi which is wise. They don't want to be reliant on a single customer. It would be sensible to have multiple customers so they don't get screwed for price and also so that they don't have all their eggs in one basket. If they want more customers then they need access to the pilot plant to produce samples. Different customers have different requirements. So there's no one they could commit to supplying the full plant capacity to Mitsubishi. I think they've done the smart thing in supplying what they can to Mitsubishi while they chase further customers. If they got customers they'll definitely be able to get finance one way or another for a full production plant.
AGY Price at posting:
10.8¢ Sentiment: Buy Disclosure: Held
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