I'm not sure why there is huge bashing on the CEO when Martin was not better and he was supposedly an engineer. Olaroz Stage 2 just keeps getting delayed, so its not like they have learnt anything Stage 1.
Livent missed out on the boom of the last few years because they didn't expand mining production and were too conservative and focused on chemical conversion capacity instead. The merged entity now has growth mining projects and we are expanding through the cycle with all our development projects. I think it is good they are slowing down to make sure they most efficiently use their capital and focus on cost savings they promised in the merger.
Don't get me wrong, I'm constantly disappointed with progress of projects from both companies, both have not met a single deadline, I'm still not sure what the issue is here, is it over promising or are the projects just that complex that it takes time to get right. Either way they need to reset expectations or get the right people on the project to meet their deadlines.
I think Paul has a good strategy and vision for the company moving forward and its time to focus on execution. Its going to be a rough 18 months for company with this low pricing environment, we are going to be spending alot of capex to get the projects across the line and we don't have enough to do everything. Lets hope the low pricing environment wipes out a number of the marginal players, setting us up for a good 2026.
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