Ann: Patersons Research Coverage, page-8

Now that this had been released officially by AGY via the ASX....

I'm not sure Everyone noticed the actually...Rincon Lithium Project – Stage 2 Evaporation Ponds Construction Works. PICTURE! You can barely see the earth moving equipment.
The ponds are going to be massive for the 1500 tones of LCE.

Other comments in the report that caught my eye:

(remembering this is now a 3rd party professional view, NOT AGY or you or I saying this. Juan Pablo Vargas de la Vega with be looking after his reputation and Patts also.)

** Near term Catalysts:
(1) Completion of the transaction by Qianyun;
(2) March 2018 Q: first batch of LCE to prove business concept with production of LCE;
(3) further tenement acquisition at Rincon;
(4) December 2017 Q: maiden JORC on Rincon,
(5) Late CY2018 Completion of Stage 2;
(6) further offtake agreement and
(7) funding and construction of Stage 3.

** We are of the view that AGY has a significant near term scalable production opportunity that has the potential to include AGY on the map of lithium brine producers.

**Our confidence in the Company has been boosted by the recent transaction on 17 August 2017 with Qianyun

**Qianyun is validating AGY JV’s technical credentials with the potential for near-term
production of battery grade lithium carbonate from the Rincon Lithium Project.

**On 23 August 2017, AGY announced the increase of the footprint tenement by pegging (I didn't know they PEGGED the new land! low cost.) new available ground. The cost of this ground is nominal to AGY.

** We believe that AGY has the right mix of people, project and potential funding to deliver on the Rincon Project. If results prove to be positive, then the Company could potentially have a company-making project producing at the right time when lithium carbonate pricing is at historical highs in the market.

**we estimate that the Company is funded for the next 12-18 months depending on Rincon’s advancements and AGY’s development plans.

AGY is now well placed to deliver on its strategy. Time is of the essence in brine operations. Despite the significant increase in share price since initiation, we believe that new opportunities may open up to the Company. The key aspect of AGY is having the expertise in lithium carbonate production, with limited experienced players in the current market.

There are also risks on Pg.9 that everyone should read as well.

DYOR!
(Just because Patersons says or thinks it...doesn't make it so.)