What don't you understand about the current financial conditions.
If we had a war chest of cash of course they would continue with the 2k plant PLUS do the 10K plant as well.
But like a lot of others we don't so we need to be prudent.
You can call it a failure if you want but keeping on going was destined to fail.
Plants need a specification.
The S1 had 500t and its role was to prove battery grade Li Carb could be made from Rincon - it did that,. Anyone thinking a 500t plant was somehow intended to be the extent of the business is a moran. It was also batch processing.
S2 was meant to prove continuous production. It has done that but due to market conditions there is no shareholder value of running it into the ground and trying to cap raise at 8c or worse sign an offtake to vultures a 8c stakeholder value or 12k Li price. or both.
So conserve cash and work on the commercial volume plant that can easily survive on its volume.
Yes it made me feel sick reading the announcement but in the end of the day it's smart to do rather than going broke trying to make S2 a business especially when its size is meaningless really to a partner long term.
imo dyor
AGY Price at posting:
4.8¢ Sentiment: Buy Disclosure: Held
(20min delay)