A open letter to Mr.Alexander Molyneux - AGY's Chairmen

Dear Mr.Molyneux,

I am a shareholder of Argosy Minerals. When I first became aware of you becoming Chairmen of AGY I wasn't sure what to make of it. However, after researching your credentials I became overwhelmed with confidence that you were the absolute best fit for the role.

Your level of experience in all areas that AGY needs was a breath of fresh air. You'd be providing solid guidance to the management team as the projects reached different levels of progress. I do however as many others AGY shareholders on HC would agree...your expertise in other area is what AGY needed most.

Unfortunately, it's now coming up on the 2 month mark since you became chairmen of AGY. I've personally never seen a chairmen so quite after being appointed. We've yet to hear any comment from you, including the press release to the ASX when you were appointed. Then you were absence for recent GM. This was a very important meeting for AGY future but, I fully understand that you had a prior engagement and have no problem with you missing the meeting. What I was surprised by and disappointed is that you didn't submit chairmen comments to the ASX for release. As you know this is a normal thing for a chairmen to do and I figured since you couldn't make it...it would be a great time to introduce yourself and comment on the affairs of AGY...to which you are the chairmen.

Ok...let's cut to it a bit. Recently, the ASX has set out guidelines to all ASX listed companies, especially resource companies to be careful on how the word their announcements to the ASX. This I fully support as all ASX announcements are legal documents and in the past some management and board members have been liberal with forward looking statements. However, I don't think...(actually I confirmed this with the ASX and some senior brokers) that the aim of these guidelines was to only report current news or results.

It's actually ok for the company to talk about the company without thinking your are promoting the SP. It's OK to talk about your company. The ASX/ASIC won't cart you off to the big house and shareholders won't sued you. You're allowed to tell the company story...especial if it's a great one like AGY.

I am also fully aware that AGY's chairmanship isn't your only role and your CEO role at PDN would take up a large percentage of your time. It's a big company and a ASX 200 member. However, from what I read  of PDN's ASX releases...it seems to be a temp job. Further more, I don't believe you would have taken the AGY chairmanship role unless you were willing to give it 100% of the time it needs and is required by the ASX.

So going forward...

I think it's safe to assume that your reputation is a dealmaker/ finance guy. 2 things AGY is in need of. I have no doubt, besides the valuable guidance your giving AGY right now, you're also working on other deals for our future.

Unfortunately, the elephant in the room is the SP. The lithium sector on the ASX has had a cooling off period the past few months as investors now want something to looks like lithium production and not some company slapping lithium on the from door. As I'm sure you've discovered AGY is the real deal. From great projects in the right areas to inside ownership to many other points that we cover in this HC forum. AGY is different.

What I'm personally asking you to do and what I feel many of my follow AGY shareholders would like you to do is simply TELL THE AGY STORY to the market.

I look at every ASX stock there is...every ASX resource stock and every ASX lithium stock. Of all the lithium stocks...hardly any have as much going for them as AGY does. However, YOU Mr.Molyneux are now also one of our biggest assets. Just no one knows about it. To have a ASX 200 exec of your caliber is something none of the other lithium player can only dream of. One poster mentioned you were a rockstar with your dealmaking background, which I'd agree with.

What you aren't doing and can easily be done with minimal time effort is the following.

-Simple PR.
You are now the chairmen of AGY. Tell someone about it. There are many media and press outlets that would jump at the chance to interview you. The ASX would have no problem with you answering the question...So Why did you pick AGY? This is basically free for AGY can only improve shareholder value. Why would you not want to tell the Australian market how great AGY is?

-Brokerage coverage.
This is a area you have experience in and I believe it's just a phone call or 2 to drum up some interest. This would also include a AGY roadshow.

-AGY ownership.
This is no ones business but, your own. You aren't required to buy shares. You however have bought some AGY shares and I'm thankful of that. It's been mentioned by the company that you'll be buying more. Why wouldn't you as AGY is a mutli-bagger and a great investment opportunity for you? I eagerly await seeing more Director's Interest Notice that show strong buying. With the above mention stature...your continued buying would really send a message to all of the market.

I follow about 80+ lithium stocks around the world and look at how they promote themselves to the market. Many have weak projects with nothing going for them. They do have one thing going for them and that's they are actively trying to let the market know their stories and keeping them apprised of every step of their projects...including all details. This is showing in their share prices.

AGY isn't doing this.
Nor have you communicated with the market or shareholders. I and many AGY shareholders find this disappointing and hope it changes in the very near future.

Again, the ASX has no problem with a company or chairmen going over the facts of a company. I believe it's more of a concern to keep shareholders happy, then the ASX from a legal point of view. If there was a example of a stock not showing full shareholder value...simple because someone was busy. Well, that's simply not acceptable.

AGY isn't some oil/gold explorer. We aren't waiting for drilling results to hit the motherload. Basically, everyone who's invested in AGY know what's what. If for some reason things go bad, I'm happy to wear that. What I don't like wearing is we have this great story and the stock is sometimes knocked down 4% by a $200 sell order. AGY is tight and hardly no one is selling. Any solid inflows and this stock can easily get into a trading range it deserves.

I've heard a lot in recent weeks from AGY management that things are progressing and the future looks bright for AGY. What we need now is a loud voice to express that and hopefully execute some of the above PR exercises. This must now come from our chairmen.

All of AGY shareholders are currently under stress as the SP is extremely undervalued...for no real reason. This is possibly creating long term damage to the shares of AGY. We look to the leadership of our chairmen to guide us through this.

(Hopefully by the number of likes for this post, you'll get a sense of the AGY shareholder sentiment on the above matters.)


Regards,

Bill.M