Hey mate I just saw a million odd notifications and my call sign...

Hey mate I just saw a million odd notifications and my call sign tagged so thought I probably should reply given the very courteous acknowledgement you gave me...

Yeah mate still have a parcel but nowhere like what I had in the early days which fortunately I cashed in for decent profits along the way...

Life has taken a different direction of late, working pretty long days/weeks so don't get much time to visit the forums these days and to be honest the dribble kinda turned me off from bothering to check in but its good to see there is still a few LT holders from the good old days still sticking to their guns.

It has been a long wait for a turnaround in the general sentiment for most Li stocks and always been my view that the sector needed to mature at some point. Eventually the wheat will be sorted from the chaff (so to speak). Brine to Li2Co3 is no easy feat if you are targeting the premium end of the market.

I still have my misgivings around the Mgt team and the whole approach of waiting for the right deal to transpire has left many wondering wtf is going on... My conversations with JZ a few years back gave me some hope in the 'money man' Molyneux coming to the party with a golden goose off-taker or 'cornerstone' investor that would see the project realised sooner rather than later.

Whether market conditions haven't allowed that to occur or he (AM) is a BS artist time will tell, but I suspect JZ is still learning on the job, who to trust and who is just out to make a quick buck. At the end of the day it is JZ's baby and he will protect it for all it's worth and I'm confident he has the nous to find the right partner and won't leave a stone unturned to make it happen. It's not the easiest of sells given the defined resource they/we are sitting on and to get this project off the ground (commercial production) will take a partner willing to take a decent risk. Given the challenges around international travel at the minute if a deal can be secured over zoom I will be super impressed...

If I had the reins of AGY I would be looking at securing funding from a cornerstone investor (preferably based in Oz) willing to take a 10% stake in Puna Mining for $20m USD (S2 funded) + $10m AUD gets them a 10% placement/share of AGY with a 3-year escrow period.

Project funding tick / working capital tick

It would be on the provision of a binding off-take agreement being signed with a major / mid tier cathode manufacturer that has tested the product and signed off on wanting more and ideally prepared to take the whole 2000tpa.

So how do we carve up the new addition of a 3rd party coming onboard with Puna Mining ?? We would need to assume Pablo and fam are prepared to take a hit on their final 10% stake.

The initial agreement says that once AGY could fund a commercial op then the split would move to a 10% Pablo & fam / 90% AGY.

Would Pablo be prepared to give up 2.5-3% and JZ/AGY give 7-7.5% to bring onboard a 3rd party that is willing to get this project happening sooner rather than later ?

It means less dilution for AGY shareholders but taking a hit on the long-term ownership of the Rincon project. We are currently at 77.5% without any proper revenue hitting the company's bank acct so 82.5-83% of a up & coming lithium producer is a way better alternative and I think it is a carrot Mgt need to think about throwing out there if a deal can't be locked down soon.


Anywho, that scenario may not be required if things continue on the current path and hopefully we can hold out for a bit longer and a major player wants us to go to 5000tpa straight up and has the coin to fund it with an off-take agreement that has a solid upfront payment.

C'mon JZ, just make it happen FFS, the suspense is killing us all