Ann: Rincon Lithium Project - EIA Approval Granted, page-153

Ok so I had some time this morning to sit down and go over the last 2 announcements. The plant update had a lot more detail in it, especially around what problems and fixes they have in place. looking at it from a positive angle, it could be that they have found the problems and now have a fix for them. This would also reflect why this sentence was mentioned “The recent works represent the final parts of the critical path process to achieving continuous operations, leading into increasing production over coming months.”

On the strategic partner front, the product certification process is done with the partner, site visits and due diligence is complete and gone well according to AGY. This sentence paragraph from AGY “The Company’s key strategic considerations to finalising constructive arrangements for the formal agreements are realising mutual alignment and long-term sustainability for the strategic benefit of the parties, with targeted timing to meet the completion and readiness of all detailed engineering works and EPCM contractor award.” It seems like the investment bank, and partner want everything in place so there is no downtime between funds being issued and the expansion project starting.

I am unsure on how long it will take for a EPCM to be awarded but I am sure they will have one lined up. An EPCM (Engineering, Procurement and Construction Management) contract, the EPCM contractor is responsible for the design/engineering and the overall management of the construction phase of a project.

Things could be going better than what they seem in the surface. The SP is definitely being manipulated so that’s not done for any reason.