Ann: Rincon Lithium Project - Progress Update, page-82

Not to sound like a broken record on the topic but the reality is that ramping up battery-grade production isn't easy. Look at how ORE started with its carbonate or in terms of hydroxide, how the big boys at Kwinana are doing today. Rarely do you find a plant working well after construction in this sector and delays are far more common than hitting timelines, unfortunately.

There are four main items to get done this year.
i) resource expansion - done
ii) expansion permits - done
iii) ramp to nameplate - in progress.
iv) offtake/financing for 10kt expansion - in progress

For iii), AGY has gone from about 40t/y (2% of nameplate) to today's announcement that they managed a rate of 250t/y (12.5% of nameplate). Seems like progress to me. I agree that iv) likely depends on proving up iii), so all focus will be on increasing this run rate. The next few announcements should be interesting.