Gee, that is pretty bad. Nicely sugar coating what a complete fkuc up this has been. What about the fast tracked path to production?
First, it's clear now, that the lessons learnt, and the objectives of the pilot plant did not even scale to the 2,000kta plant. They have now, carefully packaged up, admitted that the 2,000kta plant also does not scale. Hence, best to scrap it all, take the lessons, and start afresh.
Probably a good if tough call, but way too late. With a tougher, more business minded decision structure, and less boys playing toys attitude, they would/should have decided that 6+ months ago.
IMO, heads have to roll over this. Massive failure by management. It's our own good money that they have plundered away with their incompetence, reliance on hope, and unwillingness to face, and announce, the facts.
AGY Price at posting:
8.1¢ Sentiment: Hold Disclosure: Held
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