You must have missed the part where I specifically stated that none of us know the conditions attached to that 12-month standstill agreement, and that the agreement may have been voided by AGY's decision to enter C&M. It doesn't say they unconditionally agreed to a 12-month standstill, and I highly doubt that there wouldn't have been some list of stipulations, such as use of funds, ongoing viability, etc....
If I were ATL and I were trying to obtain an offtake from the 2 ktpa plant (which is what the initial release pointed to), and I essentially stumped up an investment to get a foot in the door for offtake negotiations, only for the AGY to shut the operation down two months later, I'd be pissed and I'd probably dump my holding too. It makes sense.
The other thing to consider is that Chinese companies in the lithium space contractually agreed to all kinds of things prior to the last lithium downturn, and it didn't stop them from doing whatever the hell they wanted when things went sour. Contracts and agreements don't mean much in their world, unless of course it benefits them.
AGY Price at posting:
4.8¢ Sentiment: None Disclosure: Not Held
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