The simplified assessment of tonnes per month, or whatever similar metric you may choose, is largely irrelevant at this stage, and absolutely secondary to actually rectifying the various issues that are hindering continuous production.
All those numbers really tell us is that we are not continuously producing yet, although some material is still being produced as the cycles of testing/commissioning/tweaking/optimisation continue.
Expecting “more” tonnes each month, as or “if” things are progressing, might seem reasonable to some at first glance, but that is not necessarily how it works on the ground; it all depends on what they are specifically working on, and what full-cycle testing - if any - they are doing in any month or period.
As far as not selling product goes, afaik the product is effectively being reserved for the strategic partner, to fulfill qualification processes. Afaict, after that partner is finalised, the material will be sold to them; or it (or some of it) may go to another entity, depending on the terms of the partnership agreement, and if another offtake is agreed.
Also possible that a (future) partner may buy some (or we may sell them some) tonnes of product prior to finalising a strategic agreement, but that hasn’t happened yet. Could we have sold some? I presume so, if we had wanted to eg. on the spot market Why not?
Hopefully the investment bankers can earn their fees and get us a good partnership deal that suits the long-term business.
Time will tell, as usual, as frustrating as it is to have to wait…
AGY Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
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