AGY

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9.3¢ argosy minerals limited

Ann: Results of Meeting, page-10

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givemethecash

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24/05/24

21:02

Post #: 74001753
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Originally posted by WhiteCollared: ↑

I was in attendance at the AGM today.
Biggest takeaway was that the team are learning a lot of lessons and gaining a lot of experience in complex lithium brine production as a result of the last six months. Jerko used the word 'demonstration' a bit in terms of the production outcomes of the current operation.
They can't tell us when they'll be pumping out 160 tonnes per month but they are currently pumping out 500kg a day with a goal to incrementally increase.
However in terms of a money they don't want to pump out massive volume RN with such a depressed price.
These lessons are all going to feed into the 10,000 production expansion.
Redevelopment of the current plant is unlikely, plan is to build big next door.

There are challenges with tariffs and supply chain/logistics getting to site.
Big delays to get parts, reagent costs - this has been one major reason why progress has been slower than expected.
Milei federal government understands this barrier and is keen to resolve however politics/bureaucracy takes time.

ATL has pressure on them to increase their lithium supply.
They have a vested interest in ensuring AGY/PUNA ensure the spice flows lol (not a direct quote)
They need to do their qualification process and we should expect more news once this has been completed.
It's been a relationship over years.

No cap raise planned but as lessons come in from the continous production ramp up there will be a clearer picture of capital requirements.

¬ ¬ ¬

If you want to get rich overnight you should probably sell up and go somewhere else.
If you are a patient longterm holder AGY is looking good.
not financial advice DYOR GLTA

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So the take away is AGY are producing 3.5 tonnes a week / 15 tonnes pcm at this stage?

Last edited by givemethecash: 24/05/24

AGY Price at posting: 13.5¢ Sentiment: Buy Disclosure: Held
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